Portland, Ore. — Portland General Electric Company (NYSE: POR) ("PGE" or the "Company") today announced that Jim Ajello, senior vice president of finance, CFO, treasurer and corporate compliance officer, has informed the Company of his intent to retire. Ajello will transition from his current roles, effective June 30, 2023, and serve as a senior advisor to the Company through August 31, 2023.
“Jim joined us in 2020, bringing a wealth of knowledge and deep experience that helped us to enhance our strategic focus, strengthen our financial foundation and drive superior customer service,” said Maria Pope, PGE president and CEO. “Importantly, under Jim’s leadership, we have reset our balance sheet to support higher levels of clean energy investments, reliability and smart grid improvements. On behalf of the board and management team, I wish him all the best in his well-deserved retirement.”
“It has been a privilege to have worked alongside Maria and the talented team at Portland General,” said Ajello. “Together, we have advanced critical initiatives to provide outstanding service to our customers and positioned the Company for growth as we accelerate our clean energy transition. While I look forward to a retirement filled with travel, time with my family and grandkids, and continued service on the boards of professional and educational organizations, I am proud of what we have accomplished and am confident in the Company’s continued success.”
The Company has initiated a search to identify its next CFO and will consider both internal and external candidates.
First Quarter 2023 Financial Results and Conference Call
PGE also separately announced its first quarter 2023 financial results. The Company will host a conference call with financial analysts and investors today, April 28, 2023, beginning at 11:00 a.m. ET. The conference call will be webcast live on the PGE website at investors.portlandgeneral.com. A webcast replay will also be available on PGE's investor website "Events & Presentations" page beginning at 2 p.m. ET on April 28, 2023.