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(Updates with management changes in second paragraph.)
Nov. 17 (Bloomberg) -- The president and chief operating officer of Connecticut Light & Power Co., a unit of Northeast Utilities, has resigned amid investigations into the handling of power failures after last month’s snowstorm.
James Muntz, president of Northeast Utilities for transmission, will succeed Jeffrey Butler as president and COO, the company said in a statement today. The company will also create a new position to lead emergency preparedness, which will be filled by William J. Quinlan, Chief Executive Officer Charles Shivery said in a statement.
Connecticut Governor Dannel Malloy has formed a panel to investigate the utility’s response to power failures after Tropical Storm Irene and last month’s snowstorm that left 770,000 customers in the state in the dark.
“Governor Malloy made clear that he thought Northeast Utilities needed to address CL&P’s management issues, and it’s clear that process has begun,” Roy Occhiogrosso, the governor’s senior adviser, said in an e-mailed statement. “It’s also likely that there will be other changes on other fronts as a result of CL&P’s performance in the lead-up to and aftermath of the storm.”
Northeast Utilities is based in Springfield, Massachusetts, and run from Hartford, Connecticut. Shares fell 34 cents to $33.98 at 1:43 p.m. in New York.
--Editors: Jessica Resnick-Ault, Will Wade
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