PHOENIX – Pinnacle West Capital Corporation (NYSE: PNW) announced today that it has appointed Doug Parker, chairman and chief executive officer of US Airways Group, Inc. (NYSE: LCC) to its Board of Directors effective November 1, 2007.
“We are extremely pleased that we are able to attract an individual to our Board with Doug’s expertise,” said Pinnacle West Chairman Bill Post. “His in-depth experience and leadership in dealing with financial markets and a dynamic business environment will be an asset to our company and customers as we address the significant challenges of serving the fastest-growing state in the nation.”
Parker, 45, bcame chairman and CEO of US Airways Group upon the merger of US Airways and America West Airlines in September 2005. Prior to the merger, Parker was chairman, president and chief executive officer of America West Holdings Corporation.
Parker joined America West in June 1995 as senior vice president and chief financial officer. His responsibilities were expanded in 1997 to include schedule planning and revenue management. In May 2000, Parker was named president of America West Airlines, and in December of that year he assumed the additional title of chief operating officer. He was elected chairman, president and chief executive officer of America West in September 2001.
Prior to joining America West, Parker spent four years with Northwest Airlines as vice president and assistant treasurer, and vice president of financial planning and analysis. From 1986 to 1991, he held a number of financial management positions with American Airlines.
Parker received a Bachelor of Arts degree in economics from Albion College in 1984 and an MBA from Vanderbilt University in 1986. He and his wife, Gwen, have three children and reside in Paradise Valley, Ariz.
Dividend Declaration & 3rdQuarter Conference Call
The Company also announced today that its Board declared a quarterly dividend of $0.525 per share of common stock, payable on December 3, 2007, to shareholders of record on November 1, 2007.
In addition, Pinnacle West plans to release its 2007 third-quarter results on Thursday, October 25. That same day at 1:30 pm (ET), the Company invites interested parties to listen to a live web cast of management’s conference call to discuss earnings and recent events. The web cast can be accessed at www.pinnaclewest.com/presentations and will be available for replay on the web site for 30 days. To access the live conference call by telephone, dial (877) 356-3961 and enter reservation number 19150269. A replay of the call also will be available until 11:55 p.m. (ET), Thursday, November 1, 2007, by calling (800) 642-1687 in the U.S. and Canada or (706) 645-9291 internationally and using the same reservation number.
Pinnacle West is a Phoenix-based company with consolidated assets of about $11 billion. Through its subsidiaries, the Company generates, sells and delivers electricity and sells energy-related products and services to retail and wholesale customers in the western United States. It also develops residential, commercial, and industrial real estate projects.
Contacts
Media:
Alan Bunnell, (602) 250-3376
Analyst:
Rebecca Hickman, (602) 250-5668
Lisa Malagon, (602) 250-5671