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Electric utilities

Montana Power Company Breaks Tradition with Out-of-State Board Directors

Strategic Insights

— 1 min read

The Montana Power Company (NYSE: MTP) has elected two out-of-state business persons to its Board of Directors, marking a departure from its long-standing tradition of having only Montanans serve on the board. Daniel T. Berube, chairman and CEO of MPC, stated that the decision is aimed at broadening the board's vision and experience in an increasingly competitive business environment. The new directors, Dr. Tucker Hart Adams of Colorado Springs and John Jester of Seattle, will join the board effective September 1.

Key Takeaways:

  • The Montana Power Company has elected two out-of-state directors, Dr. Tucker Hart Adams and John Jester, to its Board of Directors, breaking a 50-year tradition of only having Montanans serve on the board.
  • The addition of Adams and Jester brings the total number of MPC directors to 16, with 12 outside directors and four inside directors who are officers of the company.
  • The new directors will bring expertise in economics and telecommunications, respectively, to help MPC navigate its broader business environment.
  • Adams has a background in economic research, analysis, and forecasting, having worked as vice president and chief economist at United Banks of Colorado.
  • Jester has experience in telecommunications services, having worked for various companies including Chesapeake & Potomac Telephone Co. and Contel Corporation.
  • The changes in the MPC board will not affect the separation of the non-utility companies from the regulated businesses.

Statistics:

  • The Montana Power Company has operated for over 83 years, dating back to its formation in 1912.
  • The company has a long-standing tradition of having only Montanans serve on its board, which has been in place for over 50 years.
  • The board will now have a total of 16 members, with 12 outside directors and four inside directors.
  • Distribution of the MPC board is as follows: 2 out-of-state and 14 in-state directors, with 4 inside directors who are officers of the company.

Sources:

  • PRNewswire, Aug. 22, 1995
  • Montana Power Company
  • Dr. Tucker Hart Adams' biography provided in the original text
  • John Jester's biography provided in the original text

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