BETHESDA, Md.--(BUSINESS WIRE)--Dec. 9, 2003--
- Wolf Brings Wide Range of Business Development Experience
- Retiring CFO Hal Shelton to Assist in Smooth Transition
William H. Timbers, President and Chief Executive Officer of USEC Inc. (NYSE:USU), announced today the appointment of Ellen C. Wolf as Senior Vice President and Chief Financial Officer. She will be responsible for the overall financial plans, policies and activities of the Company, as well as financial community relationships.
"Ellen Wolf brings to USEC exactly the right blend of strategic thinking and business excellence to help us move forward with our current initiatives and to maintain the integrity and discipline of our finance organization," Timbers said. "We are confident that Ellen's experience will contribute substantially to our arranging financing for the construction of the American Centrifuge and accomplishing our strategic growth initiatives, while continuing our record of superior corporate governance. Hal Shelton, our retiring CFO, will assist in a smooth transition of the Company's financial management before his departure."
Before joining USEC, Ms. Wolf was vice president and chief financial officer of American Water Works, Inc. of Voorhees, NJ, a national water company with $1.7 billion in revenue and 6,600 employees. In addition to her financial management responsibilities, she led the negotiating team that successfully concluded the $8.6 billion sale of American Water Works to RWE AG, a German holding company, in January 2003. Following that transaction she served as CFO of the subsidiary water company.
Prior to her experience as CFO at American Water Works, Ms. Wolf was vice president and treasurer of Bell Atlantic. She held a succession of management positions in various Bell Atlantic organizations, including playing an integral part in the due diligence activities related to the merger of NYNEX and Bell Atlantic and later, the merger of Bell Atlantic with GTE that formed Verizon Communications.
Ms. Wolf began her career at the accounting firm of Deloitte Haskins & Sells and is a certified public accountant. She received her B.A. degree from Duke University and earned an M.B.A. degree from the Wharton Graduate School at the University of Pennsylvania.
USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.
CONTACT:
USEC Inc.
Steven Wingfield, (301) 564-3354
SOURCE: USEC Inc.