LAS VEGAS, March 23 /PRNewswire-FirstCall/ -- Southwest Gas Corporation
(NYSE: SWX) announced today that Chief Executive Officer (CEO), Michael O.
Maffie, will retire effective June 2004. Maffie's career at Southwest Gas has
spanned 25 years, with over 10 years in the position of CEO. Mr. Maffie will
continue to serve as a member of the Board of Directors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010823/SWXLOGO )
The Board of Directors has been planning for this eventuality for several
years and intends to appoint Jeffrey W. Shaw, current President, as the new
CEO. Several years ago the company took steps to broaden and deepen the
experience of senior management to provide for an orderly transition in
succession planning. The appointment of Mr. Shaw to the position of CEO will
complete this process, which included his promotion to President in July 2003.
According to Thomas Y. Hartley, Chairman of the Board of Directors, "Mike
has been instrumental in guiding a company whose customer base has grown over
50% during his tenure as CEO. He has built a strong organization at Southwest
Gas and we thank him for all he has done for the company. We will miss his
leadership and experience and wish him well in retirement. At the same time,
we are pleased to turn over the reins to Jeff and are confident Southwest Gas
will continue to flourish under his leadership."
Prior to his position as President, Mr. Shaw served as Senior Vice
President/Gas Resources and Pricing, Senior Vice President/Finance and
Treasurer as well as the Chief Accounting Officer. He joined Southwest Gas in
1988 as Director/Internal Audit.
Shaw graduated from the University of Utah in 1983 with a degree in
Accounting. He is a Certified Public Accountant and a member of the American
Institute of Certified Public Accountants, the Nevada Society of CPAs and the
Leadership Las Vegas Alumni Association. Shaw has served on the board for the
YMCA of Southern Nevada, and is active with the Boy Scouts of America.
Southwest Gas, with headquarters in Las Vegas, Nevada, serves over 1.5
million homes and businesses in Nevada, Arizona and California. The company
has been one of the fastest growing natural gas distribution companies in the
nation for more than 10 years.
This press release may contain statements which constitute "forward-
looking statements" within the meaning of the Securities Litigation Reform Act
of 1995 (Reform Act). All such forward-looking statements are intended to be
subject to the safe harbor protection provided by the Reform Act. A number of
important factors affecting the business and financial results of the Company
could cause actual results to differ materially from those stated in the
SOURCE Southwest Gas Corporation