CVEC Names Wood as New CEO and President

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Press Release from CVEC

Lovingston, Va.
January 6, 2008

Central Virginia Electric Cooperative recently announced that its Board of Directors has named Gary E. Wood to serve as the company’s Chief Executive Officer and President. Wood assumed the top position on January 2 with the retirement of outgoing CEO, Howard Scarboro.
A long term employee at CVEC, Wood began his career in 1987 as an electrical engineer, was selected as the Planning Engineering Manager in 1991 and was promoted to Vice President of Engineering and Operations in 1999. Wood most recently served as the CVEC Senior Vice President, overseeing all functions related to wholesale energy purchases, distribution system engineering and operations management.
Wood received strong votes of confidence from both Scarboro and the CVEC directors. “Gary Wood was the first person that I hired after I arrived at CVEC and it was one of my best decisions, Gary brings a triple play of talents to the Cooperative’s table, with training and experience in three key areas; technology, business and leadership,” said Scarboro. “Gary has initiated or participated in many of the advancements occurring at CVEC since his arrival.”
Past-chairman, K.M. Beasley, Jr. of Buckingham County summarized the sentiment of the CVEC Directors, stating “Since that summer of 1991, Mr. Wood had key roles in virtually every aspect of the Cooperative’s success story.”
Wood commented on the expansion of his responsibilities: “I am honored to have been selected for this leadership position and I am dedicated to continuing the CVEC traditions of hard work and innovative practices in order to deliver the best energy value to the cooperative members. With the excellent Board of Directors and a staff of dedicated, highly-skilled employees, CVEC will work to build on the many successes it achieved during Mr. Scarboro’s tenure.”
Wood also announced additional promotions at CVEC. “I am pleased to name Bruce Maurhoff as the new Vice President for Engineering and Operations, while Joseph Key will move into the position of Engineering Manager. Both are outstanding employees and will play important roles in the Cooperative’s success in their new positions. CVEC is fortunate to have this depth of talent available within its ranks.”
About Gary E. Wood – Wood is a licensed professional engineer with a degree in electrical engineering from the University of Virginia and a Master of Business Administration from Auburn University. A native of Nelson County, he has served on the Nelson County School Board and is a past chairman of the Nelson County Board of Supervisors. Gary Wood and his wife, Deborah Harvey, continue to reside in Nelson County with their two children, Christopher and Katherine.
ABOUT CVEC – Central Virginia Electric Cooperative is a member-owned, not-for-profit electric distribution utility serving more that 33,000 locations in the rural portions of 14 Virginia counties. With a long practice of innovation and independent thinking, CVEC has consistently provided reliable service at affordable rates.

P. O. Box 247 · Lovingston, VA 22949 · 800-FOR-CVEC · 434-263-8336 · Fax: 434-263-8339 · www.forcvec.com