Announcement Letter That the Employee Has No Longer Working with Us - DOC
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Announcement Letter That the Employee Has No Longer Working with Us document sample
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April 25, 2007 Dear Fellow Employees: This afternoon our Company will announce I have chosen to retire as an employee and a director effective June 30, 2007. The announcement also will say that Bill Moore will succeed me as CEO and as a director. Between now and June 30, I will work with Bill and our officer team to assure an effective transition to Bill’s leadership. I don’t know what’s coming next in my professional career. I’m certain, however, that my work at Westar will always be the most special and satisfying of my career. When I returned to Westar, I told you I considered it a great privilege to lead our Company in the time of its greatest difficulty. I still believe that. More importantly, I told you I had high expectations that all of us working together would solve Westar’s problems and regain its place as a respected, successful company dedicated to the well being of its employees, communities and customers, and investors. Each of you enthusiastically embraced those expectations and set to work to get the job done. After four and one-half years, look at the fruits of our effort. We are working more safely and with greater productivity than at any time in our history. Westar is again a premier place to work in Kansas. Throughout our service area, Westar employees provide leadership to community organizations and countless volunteer hours and financial contributions. We have reduced debt obligations by well over $2 billion, restored our credit quality to investment grade, and our stock price has risen from $8.50 per share to more than $28. We are no longer focused on solving past problems. Now, from a solid base, we are focused on turning tomorrow’s challenges into opportunities. This is the best time to pass the reigns of leadership. That Bill Moore will take those reigns is our good fortune. I have worked with Bill since 1980. He is a person of the highest integrity and goodwill. Bill has extensive senior level experience in finance and operations. Bill is highly respected throughout Kansas and within the electric power industry. He is known as a person who gets the toughest jobs done and done well. Bill is a winner. Westar will reach new heights under the leadership of Bill and our officer team. Westar has a bright future. I’m pleased with the part I’ve played in setting the stage for that. I am proud, very very proud to have been associated with each of you. Thank you. Jim
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