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News > Companies
Enron names new CEO
December 13, 2000: 12:17 p.m. ET

Energy giant selects new chief, ends rumors of a possible Washington move
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NEW YORK (CNNfn) - Natural gas and communications company Enron said it has promoted Jeffery Skilling to the chief executive spot, effective Feb. 12, 2001.

graphicSkilling, 47, will succeed Kenneth Lay as CEO and continue his role as president and chief operating officer, according to Enron's company statement.

The Houston-based energy company said Lay will continue to serve as chairman in the company, despite speculations of published reports that his name had been mentioned for a Bush cabinet post as Energy Secretary or Secretary of the Treasury.

Skilling became president and COO in December 1996 and has served on the company's board of directors. He joined Enron (ENE: Research, Estimates) in 1990 after leaving McKinsey & Co.'s energy and chemical consulting practices.

Shares of Enron dipped 31 cents to $76.88 at midday Wednesday. graphic

- from staff and wire reports

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