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Subject:   NEW CHIEF FINANCIAL OFFICER JOINS SEATTLE CITY LIGHT
For Immediate Release:   
4/8/2009  3:28:00 PM
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Former CFO of the California Independent System Operator joins City Light Team

SEATTLE - Seattle City Light Superintendent Jorge Carrasco announced the addition of a new Executive Team member, Phil Leiber, who will take over the position of Chief Financial Officer (CFO). Leiber started at City Light on April 6.

Phil Leiber"Phil is an experienced financial professional who successfully addressed the financial challenges of the California Independent System Operator - the operator for most of Californias electric transmission grid serving 30 million customers - during the last 12 years, including through stresses presented by the West Coast Energy crisis," said Carrasco. "He is coming to City Light at a difficult period in time given the economy and our declining wholesale (surplus) power rates. I am confident that his financial planning and forecasting experience and his familiarity with bond markets will be invaluable to us as we strive to maintain our financial performance during this recession."

Leiber is a Certified Public Accountant (CPA), Certified Treasury Professional (CTP) and holder of Bachelor of Business Administration and a Master of Accounting degrees from the University of Michigan, and a Masters degree in Computer Information Systems from the University of Phoenix.



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