Salt River Project names new general manager

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Tempe, Ariz., April 26, 2011 — Salt River Project's board of directors selected Mark B. Bonsall to succeed Richard H. (Dick) Silverman as the general manager.

Bonsall, 58, will assume the responsibilities of general manager in August. Bonsall is currently SRP's chief financial executive and associate general manager of Commercial and Customer Services.

Following the announcement, Bonsall said, "I am honored by the board's decision to have been selected to lead an organization with such a proud heritage of stewardship. I am looking forward to working with Dick Silverman and the other members of the general manager's staff in the weeks ahead to assure our electric customers, water shareholders and employees of a seamless transition."

President David Rousseau said the board's decision reflects its commitment to continue SRP's priorities of outstanding customer satisfaction, reliable electric and water service and strong community involvement.

"We had a number of experienced candidates to consider, but in the face of a challenging economy and a rapidly changing utility industry, Mark Bonsall is the right choice to lead SRP as we look to maintain our financial strength and our tradition of putting customers first," said Rousseau.

"With Dick Silverman as general manager, SRP made critical investments in infrastructure and technology that have positioned us well for the future. Mark has the experience and the expertise to provide the type of leadership that will continue to serve our customers well."

In February, Silverman announced his intention to retire in August, marking his 45th anniversary with SRP. "Having worked with Mark over the past 30 years, I have every confidence that he will take SRP to the next level," said Silverman.

Bonsall was named SRP's chief financial executive and an associate general manager in 1991. Since joining SRP in 1977, he has served as assistant treasurer, assistant general manager and associate general manager. Bonsall is vice chairman of the Heard Museum and Phoenix Children's Hospital boards of directors, and former treasurer of the American Public Power Association.

The Phoenix native earned his baccalaureate degree in engineering from Arizona State University, magna cum laude. He earned a master's in business administration from the Wharton School of the University of Pennsylvania. Bonsall and his wife, Mary, have three children.

SRP is the third-largest public power utility in the nation, serving more than 940,000 customers in the greater Phoenix metropolitan area.

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