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Nov 21, 2000

BEL restructures management

Belize Electricity Limited, the nation’s sole distributor of electric power, is in the process of reorganizing its management structure. Forty-two year old CEO Lynn Young retains his executive position and has also been named to the newly created post of president. He remains a member of the board. Veteran Fernando Coye will retire at the end of December following twenty-nine years of service. He currently serves as chief operating officer and has in the past held positions as general manager and deputy CEO. A new set of vice presidencies has been created with thirty-two year old Rene Blanco serving as VP-finance, forty-year old Dereck Davis as VP-energy supply and generation, thirty-six year old Joseph Sukhnandan as VP-planning and engineering and forty-four year old Mike Polonio acting as vice president-customer service and business development. A vice presidency for operations will also be created, but remains vacant for the time being.

In related news Young has urged the quick resolution of environmental issues surrounding the construction of the Chalillo Dam as rising costs of electricity from Mexico have added four million dollars to BEL’s power bill. The price of electricity from Mexico is indexed to the price of petroleum, which has risen to near record levels. Electricity generated by domestic hydro plants would not be subject to fluctuating oil prices or other outside influences.

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