SPOKANE, WA -- (Marketwire) -- 05/18/11 -- The Board of Directors of Avista Corp. (NYSE: AVA) has named Donald C. Burke and Rick R. Holley as new directors who will join the board as of August 1, 2011. Mr. Burke and Mr. Holley will stand for election to the board at the next annual meeting of shareholders on May 10, 2012.
Mr. Burke, age 50, serves as an independent trustee for the Goldman Sachs mutual fund complex, which consists of a broad range of investment portfolios for retail and institutional investors managed by Goldman Sachs Asset Management, L.P. and certain affiliates. He has held this position since August 2010. Prior to assuming this role, Mr. Burke was a managing director for BlackRock, Inc., and served as the president and chief executive officer of the BlackRock U.S. mutual funds. He also served as a trustee for numerous BlackRock funds established in Luxembourg and the Cayman Islands. In addition, Mr. Burke held a number of positions with Merrill Lynch Investment Managers and Deloitte & Touche.
Mr. Burke is a frequent speaker at professional conferences and has authored papers published in technical journals, newspapers and firm publications.
Mr. Burke earned a Bachelor of Science degree in accounting and economics from the University of Delaware and a Master of Business Administration degree in taxation from Pace University. In addition, he is a Certified Public Accountant.
Mr. Holley, age 59, has served as president and chief executive officer of Plum Creek Timber Co., Inc. since 1994. Prior to this position, Mr. Holley was vice president and chief financial officer of Plum Creek. Previously, Mr. Holley was assistant vice president for corporate audit at Burlington Northern, Inc. and served on the corporate audit staff for the General Electric Company.
Currently, Mr. Holley serves as the chairman of the National Alliance of Forestland Owners, as director of Sustainable Forestry Initiative, Inc. and as a trustee of the American Forest Foundation. In addition, he is a member of the 12th District Federal Reserve Bank's Economic Advisory Council.
Mr. Holley earned a Bachelor of Science degree in accounting and business administration from San Jose State University and attended the Advanced Executive Program at Northwestern University.
'We are pleased that Don and Rick are joining our board of directors,' said Scott L. Morris, Avista Corp. chairman of the board, president and chief executive officer. 'Don brings a strong investment management background coupled with a breadth of experience in audit, accounting and tax. Rick brings valuable acumen in doing business in the Northwest with an excellent understanding of the importance of environmental stewardship for sustainable business practices. As the energy industry is going through rapid change, the experience each of these men brings will be of great value to our company.'
About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 358,000 customers and natural gas to 319,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Avista's primary, non-regulated subsidiary is Advantage IQ. Our stock is traded under the ticker symbol 'AVA.' For more information about Avista, please visit www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.