NYISO Board of Directors Names Richard J. Dewey President and CEO

RENSSELAER, NY (05/23/2019) (readMedia)-- The New York Independent System Operator (NYISO) today announced that its Board of Directors has named Richard J. Dewey, currently Executive Vice President, to be President and Chief Executive Officer, effective June 1, 2019. Mr. Dewey replaces Robert E. Fernandez who has served as interim President and CEO since October 2018. Mr. Fernandez will become Executive Vice President, General Counsel, and Chief Compliance Officer under management changes announced by the Board. Prior to serving as the Interim President and CEO, Mr. Fernandez was the company's General Counsel and Chief Compliance Officer.

NYISO Board Chairperson Ave Bie said, "Rich has built an impressive track record of performance-driven results in a number of senior management roles throughout his career at the NYISO. He has a deep understanding of our business, the electric industry, and the markets we operate, which will be critical to guiding the company successfully into the future. Rich's strategic vision is exactly what we need at this pivotal time for the NYISO and the competitive electric markets."

Bie also said, "On behalf of the NYISO Board of Directors, I want to express my sincere gratitude to Rob for his stewardship over the past eight months. He demonstrated great leadership with the company's employees, stakeholders, and public officials and helped the company navigate successfully through several major initiatives during his tenure. Rob had indicated to the Board of Directors, that after much thought, he did not wish to be considered for the President and CEO role on a permanent basis and once a permanent replacement was named, wished to return to his role as the NYISO's chief legal officer where his professional skills would be most beneficial to the company over the long term. We look forward to his ongoing advice and counsel and wish him well in his new role as Executive Vice President, General Counsel, and Chief Compliance Officer."

Mr. Dewey is a 19-year veteran of the NYISO. He currently leads the System Planning, Information Technology and Market Structures organizations for the company, with a focus on proactively addressing the evolving and dynamic challenges of the industry. Mr. Dewey joined the NYISO in 2000 and has held several pivotal executive roles in Product and Project Management, Strategic Software Development and Quality Assurance. Previously, he spent several years with Husky Injection Molding Systems and the Niagara Mohawk Power Corporation. He earned a B.S. in Electrical and Computer Engineering from Clarkson University, a M.S. in Computer Engineering from Syracuse University, and is a graduate of Harvard Business School's General Management Program.

As part of the management changes announced by the NYISO Board of Directors, Emilie Nelson, Vice President of Market Operations, becomes Executive Vice President. She will assume the roles and responsibilities currently led by Mr. Dewey.

Ms. Nelson joined the NYISO in 2004 and leads the Market Operations team with responsibility for the administration of the wholesale electricity markets. She oversees the capacity market, energy market and demand response areas that serve a critical role in the reliability of the electrical grid. She has over twenty years of experience in the power industry and worked for several years in power generation. She earned a B.S. in Mechanical Engineering from Tufts University and an M.B.A. from Pace University.

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