Kansas City, Mo.

Aquila Inc. announced on October 1 that it reached an agreement with president and CEO Robert K. Green under which he has resigned from all executive officer positions with the company and from Aquila's board of directors. The company cited market realities that demanded a strategic repositioning of the company and its recent decision to substantially reduce the scale and scope of its business. That reduction now, in turn, requires a smaller executive staff.

Aquila announced on June 17 that it would no longer conduct any speculative wholesale energy trades and would return to its historic roots as an energy distribution network and generation business. The board has reassigned Bob Green's CEO responsibilities to longtime chairman Richard C. Green, Jr. Bob Green will continue to work with the company over the next 18 months as he explores other career opportunities.

"My appointment to CEO in January 2002 came as our energy trading and risk management, merchant generation and international operations were increasing the size and complexity of our business," said Bob Green. "Following our decision to reposition the business, both strategically and financially, a much smaller executive team is required. I strongly support Rick's return to leadership of the company as CEO. He has the knowledge and experience to serve our shareholders' interests well."