Date posted online: Wednesday, December 12, 2007
Maassel
out as NIPSCO chief
NIPSCO president served as Forum head in 2006
BY KEITH BENMAN
kbenman@nwitimes.com
219.933.3326
NIPSCO president Mark Maassel, known for his
deep involvement in community affairs, is stepping down as part of a
companywide management reorganization at parent company NiSource Inc.
The announcement of Maassel's departure comes a week after NiSource
appointed Eileen O'Neill Odum, 52, to the newly created post of executive
vice president and group CEO for NiSource's Indiana business segment.
"Basically she is now head of Indiana operations and those are all of the
operations Mark was in charge of," NIPSCO spokeswoman Colleen Reilly said
Tuesday.
Maassel has agreed to help with the corporate
reorganization and an exact date for his departure has not been set, Reilly
said. Maassel could not be reached for comment.
In addition to heading up NIPSCO, Maassel also oversaw operations at
Northern Indiana Fuel and Light Co. and Kokomo Gas. NIPSCO is the state's
largest utility, with 445,000 electric and 712,000 natural gas customers.
Maassel, 53, became head of NIPSCO in early 2004 in an earlier management
shakeup that saw the departure of then-president and CEO Barrett Hatches.
Maassel has worked for NIPSCO for 30 years.
His departure comes as the utility prepares for its first rate case in more
than 20 years, which could set customer charges for decades to come. Maassel
oversaw a historic restructuring of NIPSCO's natural gas rates this past
year, which will offer customers incentives for conserving energy.
Maassel serves on the boards of directors of numerous civic organizations
and business groups, including the Northwest Indiana Forum and the Indiana
Chamber of Commerce. He was Forum chairman in 2006.
Odum is a former telecommunications executive from Rye, N.Y. With the hiring
of a new chief legal counsel last month, NiSource CEO Robert Skaggs Jr.
continues to put his stamp on the company. He took up reins as CEO in 2005,
replacing longtime NiSource chief Gary Neale.
Odum's appointment is part of an executive restructuring that is expected to
include the establishment of an additional senior position to oversee
NiSource's natural gas distribution companies in Ohio, Pennsylvania,
Kentucky, Virginia, Maryland and New England.
NiSource is establishing both positions to provide centralized profit and
loss accountability at its major business segments, Skaggs said last week.
