SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: April 28, 1997
LG&E ENERGY CORP.
(Exact name of registrant as specified in its charter)
Kentucky 1-10568 61-1174555
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
220 West Main Street
P.O. Box 32030
Louisville, KY 40232
(Address of principal executive offices)
(502) 627-2000
(Registrant's telephone number)
Item 5. Other Events.
On April 24, 1997, LG&E Energy Corp. announced that, effective May 15, Victor
A. Staffieri will be promoted to chief financial officer of the corporation;
and Stephen R. Wood will be promoted to president, Louisville Gas and Electric
Company and distribution services division.
On April 25, 1997, LG&E Energy Corp. announced the consolidation of the
trading, risk management and administrative operations of its power marketing
and gas marketing divisions into a single energy marketing unit, to be located
in its Louisville headquarters.
Item 7(c). Exhibits Filed.
Exhibit
Number Description
99.01 News Release dated April 24, 1997.
99.02 News Release dated April 25, 1997.
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.
LG&E ENERGY CORP.
Registrant
Date: April 28, 1997 /s/ John R. McCall
John R. McCall
Executive Vice President, General
Counsel and Corporate Secretary
Exhibit 99.01
LG&E Energy Corp. Promotes Officers To New Positions
LOUISVILLE, Ky. - LG&E Energy Corp. announced that, effective May 15, Victor A.
Staffieri will be promoted to chief financial officer of the corporation; and
Stephen R. Wood will be promoted to president, Louisville Gas and Electric
Company and distribution services division.
Staffieri previously was president of distribution services and Louisville Gas
and Electric Company. In his new position, Staffieri will be responsible for
financial and accounting policy and management throughout LG&E Energy Corp. In
addition, he will lead international and domestic development activities,
including business growth through acquisitions and joint ventures.
Staffieri joined LG&E Energy Corp. in December 1992 as senior vice president,
public policy, and general counsel. He has nearly 20 years of legal and public
policy experience. Prior to joining LG&E, he was general counsel and secretary
at Long Island Lighting Company in Hicksville, N.Y.
Staffieri is the 1997 Chair of the Louisville Area Chamber of Commerce and a
member of the chamber's African-American Affairs Committee. He also is a
member of The National Conference and Chairman of the Coordination Council for
Economic Development Activities-Regional Economic Development Strategy. In
addition, Staffieri is a member of Bellarmine College Board of Trustees and
several subcommittees, the University of Louisville Board of Overseers, and the
board of directors for the Downtown Development Corporation, Fifth Third Bank
of Kentucky Inc., Greater Louisville Fund for the Arts, Kentucky Country Day
and Jefferson County/Louisville Area Chamber of Commerce Family Business
Partnership.
Staffieri has a bachelor's degree from Yale University and juris doctorate from
Fordham University School of Law. Staffieri and his wife, Kim, have four
children.
Wood, in his new position, will be responsible for all operations of Louisville
Gas and Electric and the distribution services division. In addition, Wood
will be responsible for the corporation's two Argentine natural gas distribu-
tion companies, Centro and Cuyana. He was formerly executive vice president
and chief administrative officer, LG&E Energy Corp. A new chief administrative
officer will be named later.
Wood joined Louisville Gas and Electric Company in 1989 as senior vice presi-
dent, human resources and administration. He has more than 30 years of broad-
based business experience, which he gained at notable companies, such as
Memorex Telex Corporation and Ford Motor Company.
Wood is on The Conference Board's Chief Administrative Officers' Council in New
York; and Chairman of the Board of Acordia of Louisville Inc., and WKPC-TV,
Channel 15, in Louisville. He also is on the board of directors of Martin
Engineering in Illinois.
Wood has a bachelor's degree from Purdue University and a master of business
administration degree from the University of Detroit. He and his wife, Mona,
have three children.
LG&E Energy Corp. (LGE:NYSE), a Fortune 500 company, is an industry-leading
energy services holding company headquartered in Louisville, Ky. The company
has assets and operations in retail and wholesale power and natural gas
services and marketing. It has offices, operations and partnership projects
throughout the U.S. as well as Canada, Argentina and Spain.
Louisville Gas and Electric Company is a regulated subsidiary of LG&E Energy
Corp.
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Exhibit 99.02
LG&E Energy To Consolidate Energy Trading Businesses In
Louisville, Creating More Than 40 New Jobs
LOUISVILLE, Ky. - Advancing its plans to converge its energy marketing busi-
nesses, LG&E Energy Corp. today announced the consolidation of the trading,
risk management and administrative operations of its power marketing and gas
marketing divisions into a single energy marketing unit, to be located in its
Louisville headquarters. The move will bring more than 40 professional jobs
to Louisville in this expansion of the company's local commodity trading
function.
LG&E Energy had previously announced its intention to integrate its two
marketing companies, LG&E Power Marketing and LG&E Natural, into a new divi-
sion, LG&E Energy Marketing, to capitalize on the convergence of the electric
and gas marketing industries. The consolidated division will expand the
variety of commodities it will offer to customers to include coal, emission
allowances and other energy-related products.
"The energy marketplace demands that we offer a broad array of products at the
lowest possible price," said Walter Z. Berger, Group President, Energy Market-
ing. "The convergence of the power and gas marketing groups is an opportunity
to expand the value-added solutions we can offer our customers, and attain
substantially lower costs. Our combined expertise in multiple commodities,
including gas, electricity, coal and emission allowances, will enable us to
develop these customer solutions on a broader scale."
Under the integration plan, LG&E Energy will move the trading, risk management,
accounting, legal, credit management and other support operations from its
Dallas office to Louisville, consolidating them with its power marketing group
currently located in its headquarters here. The company will maintain sales
and marketing offices in Dallas as well as in Fairfax, Va., Chicago, Denver,
Costa Mesa, Calif, and Calgary, Canada.
As a result of this consolidation, LG&E Energy will incur a one-time, after-tax
charge of $3 to $5 million in the second quarter of 1997. This cost will cover
employee relocation, severance, facilities, information systems and other
related costs. The cost will be more than offset, however, by future savings
achieved from the synergies created by the integration of its energy trading
operations.
LG&E Energy (NYSE: LGE) is a Fortune 500 energy services company headquartered
in Louisville, Ky. The company owns and operates a portfolio of energy
businesses with assets of more than $3 billion and annual revenues of more than
$4 billion. It has offices and operations throughout the U.S. as well as in
Argentina, Spain and Canada.
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