UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITES EXCHANGE ACT OF 1934
Date of Report (Date of earliest events reported) January 27, 2000
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January 26, 2000
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PUBLIC SERVICE COMPANY OF NEW MEXICO
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(Exact name of registrant as specified in its charter)
New Mexico Commission 85-00019030
--------------------------- File Number 1-6986 ----------------------
(State or Other Jurisdiction ------ (I.R.S. Employer
of Incorporation) Identification) Number)
Alvarado Square, Albuquerque, New Mexico 87158
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(Address of principal executive offices) (Zip Code)
(505) 241-2700
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(Registrant's telephone number, including area code)
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(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Event
The following is the Company's press release announcing the new president and is
being filed herewith as a current event.
PNM Names New President
(ALBUQUERQUE, NM) - PNM, Public Service Company of New Mexico, announced today
that Jeffry E. Sterba is rejoining PNM as the company's president.
Sterba served as PNM's executive vice president and chief operating officer from
1997 until his departure at the end of 1998. In 1998, Sterba accepted a position
as executive vice president at USEC, a global energy company headquartered in
Bethesda, Maryland. During his 21-year tenure with PNM, he worked primarily in
the company's power generation, transmission and retail and wholesale marketing
areas.
Sterba will assume his new role at PNM on or before March 15. Ben Montoya, PNM's
current chairman, president, and chief executive officer, will continue to serve
as chairman and CEO. Upon Montoya's retirement, it is expected that Sterba will
assume the role of chairman and CEO.
"Since coming to PNM six and one-half years ago, I've accomplished much of what
I wanted to do," Montoya said. "Recently I've made it no secret that I will
retire sometime in the next 18 months. The number one item on my to-do list for
2000 has been to find a successor and ensure that we have a smooth transition to
the new leadership.
"The timing of Jeff's arrival is fortunate. He's re-joining us at a time when he
can participate in several significant decisions that will be made this year
regarding the formation of our holding company and the entire organization's
transition to competition," Montoya added.
"I am very excited and honored," said Sterba. "PNM is facing some challenging
times, but they are also times that are full of remarkable opportunities. And
PNM has all the right stuff - terrific people and a great strategy - to make a
successful transition to a competitive electric marketplace in New Mexico. I am
looking forward to getting down to work on the issues facing the company and to
returning with my family to New Mexico."
PNM is a combined electric and gas utility serving approximately 1.3 million
people in New Mexico. The company also sells power on the wholesale market.
Avistar, PNM's wholly-owned subsidiary, manages the City of Santa Fe's water
system, and offers energy and water management services for other municipalities
and for government and institutional clients. The company's stock is traded
primarily on the NYSE under the symbol PNM.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PUBLIC SERVICE COMPANY OF NEW MEXICO
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(Registrant)
Date: January 27, 2000 /s/ John R. Loyack
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John R. Loyack
Vice President, Corporate Controller
and Chief Accounting Officer
(Officer duly authorized to sign this report)
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