1. Investor News NYSE:PEG
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Kathleen A. Lally, Vice President – Investor Relations Phone: 973-430-6565
Greg McLaughlin, Sr. Investor Relations Analyst Phone: 973-430-6568
Yaeni Kim, Sr. Investor Relations Analyst Phone: 973-430-6596
November 12, 2007
PUBLIC SERVICE ENTERPRISE GROUP NAMES SCOTT JENNINGS
VICE PRESIDENT-MERGERS, ACQUISITIONS AND DEVELOPMENT
Public Service Enterprise Group (PSEG) has appointed Scott S. Jennings as its vice
president-mergers, acquisitions and development, effective November 19. He has been a
vice president at the PSEG subsidiary, PSEG Energy Holdings, since 2005.
In his new role, Jennings will report to Stephen C. Byrd, who is PSEG’s senior vice
president-finance, business development, strategy and mergers and acquisitions. Jennings
will be charged with exploring multiple strategic growth opportunities.
“With increasingly strong operations and an improved balance sheet, PSEG has the
ability to pursue opportunities that make strategic and financial sense,” Byrd said. “Scott
Jennings has the right intellectual tools and business experience to lead this effort.”
For the last year, Jennings oversaw finance at PSEG Energy Holdings, which includes
PSEG Global and PSEG Resources. In particular, he led an extensive analysis of Global’s
portfolio which resulted in the refinancing or sale of various international assets. He also
oversaw the business planning process, financial forecasting and the development of new
management reporting tools for the portfolio and its projects. With the reduced overall
portfolio at PSEG Energy Holdings, financial responsibilities will be folded into its businesses,
with particular emphasis on managing Global’s remaining assets and supporting
development of selected renewables assets.
Jennings worked at PSEG in the accounting services area since joining the company
in 1998. He became assistant controller in 2004. During his tenure in accounting services,
he was at the center of a number of accounting issues related to Public Service Electric and
Gas Company’s (PSE&G) deregulation, reorganization, and financing of its affiliates and
various corporate development transactions. Prior to joining PSEG, he spent five years at
Deloitte & Touche in its New Jersey office, working primarily with financial services firms and
the public utility industry.
Jennings has a bachelor of business administration degree and a master of business
administration degree in accounting from Pace University. He is a certified public accountant.
He has been active in several professional and civic organizations.