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Ascendant Group Limited Announces Changes to the Board of Directors
Hamilton, Bermuda: Friday, 1 June 2012 – During yesterday’s annual general meeting (AGM) of shareholders, retirements from Ascendant Group Limited’s Board of Directors were announced and new appointments were approved, along with changes to the Board structure.
J. Michael Collier retired from his position as Chairman of the Board after eight years, having been a Board Member since 1989. He will remain a Director of Ascendant Group Limited and Bermuda Electric Light Company Limited and a Member of the Executive Committee of the Board of Directors of Ascendant Group Limited until the AGM in 2013, when he plans to retire from the Board completely.
In addition, Kathryn R. Siggins has retired as a Director of Ascendant Group Limited, having served as on the Board since 2004. Ms. Siggins is Chief Operating Officer of Opal Reassurance Limited.
Reginald S. Minors has been named Chairman of the Board of Ascendant Group Limited. Mr. Minors has been Deputy Chairman since 2004 and a Board Member since 1995. He is President & Chief Executive Officer (CEO) of Tools & Equipment Ltd. Ascendant Group Limited 2 | P a g e
Peter C. Durhager has been named Deputy Chairman. Mr. Durhager, a Director since 2003, is Executive Vice President & Chief Administrative Officer of RenaissanceRe Holdings Ltd.
Joining the Board as a Director is newly appointed Ascendant Group President & CEO Walter M. Higgins III. Mr. Higgins, a nuclear engineer, joins Ascendant Group having retired as Chairman, President & CEO of Sierra Pacific Resources (now NVEnergy). Mr. Higgins’ extensive resume spans more than 30 years in the utility industry, long service in the U.S. Navy and continued service as a Director on several Boards.
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Ascendant Group Limited is a publicly traded investment holding company whose shares trade on the Bermuda Stock Exchange (ticker AGL.BH). The mission of Ascendant Group is to maximise shareholder value through growth in existing energy-related businesses and investment in utility and infrastructure companies. Ascendant Group Limited is the parent Company of operating companies Bermuda Electric Light Company Limited (BELCO), Bermuda Gas & Utility Company Limited, PureNERGY Renewables Ltd., Sigma Corporate Services Company Limited and inVenture Limited, as well as BELCO Properties Limited and BTS Limited.
For further information about Ascendant Group Limited, visit www.ascendantgroup.bm