UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 6, 2006
AVISTA CORPORATION
(Exact name of registrant as specified in its charter)
| Washington | 1-3701 | 91-0462470 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 1411 East Mission Avenue, Spokane, Washington | 99202-2600 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 509-489-0500
Web site: http://www.avistacorp.com
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 5 – Corporate Governance and Management
| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
On January 6, 2006, Avista Corporation (Avista Corp. or the Company) announced the appointment of Christy Burmeister-Smith as vice president and treasurer and Ann Wilson as vice president and controller. Malyn Malquist, who remains senior vice president and chief financial officer of the Company, previously also held the position of treasurer. Christy Burmeister-Smith, 48, previously was vice president and controller of the Company since June 1999. Ann Wilson, 40, previously was vice president and controller of Avista Energy, Inc., a subsidiary of the Company, since January 2000. For further details, please refer to the press release filed as Exhibit 99.1 to this Current Report, which is incorporated herein by reference.
As a new executive of the Company, Ms. Wilson will be provided the same benefits and incentive opportunities as other vice presidents beginning in 2006. This includes incentive opportunities under the Executive Officer Incentive Plan and Executive Performance Share Plan. Ms. Wilson will be enrolled in the Executive Income Continuation Plan and the Supplemental Executive Long Term Disability Plan. Ms. Wilson will also be eligible to participate in the Supplemental Executive Retirement Plan and the Executive Deferral Plan. Ms. Wilson will also be provided with a Change in Control Agreement in the same form as other vice presidents of the Company.
Section 9 – Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits. |
| (c) | Exhibits |
| 99.1 | Press release dated January 6, 2006. |
Neither the filing of any press release as an exhibit to this Current Report nor the inclusion in such press releases of a reference to the Internet address of Avista Corp. or its subsidiaries shall, under any circumstances, be deemed to incorporate the information available at such Internet addresses into this Current Report. The information available at the Internet address of Avista Corp. or its subsidiaries is not part of this Current Report or any other report furnished or filed by Avista Corp. with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| AVISTA CORPORATION | ||||
| (Registrant) | ||||
| Date: January 10, 2006 |
/s/ Malyn K. Malquist | |||
| Malyn K. Malquist | ||||
| Senior Vice President and Chief Financial Officer | ||||
 |
Exhibit 99.1 |
Contact:
Media: Jessie Wuerst (509) 495-8578, jessie.wuerst@avistacorp.com
Investors: Jason Lang (509) 495-2930 jason.lang@avistacorp.com
Avista 24/7 Media Access (509) 495-4174
Avista Corp. Names Burmeister-Smith Vice President, Treasurer;
A. Wilson Vice President, Controller
Malyn Malquist to remain as chief financial officer
SPOKANE, Wash. – Jan. 6, 2006, 1:30 p.m. PST: Avista Corp. (NYSE: AVA) today announced two changes in its financial leadership. Avista Senior Vice President and Chief Financial Officer Malyn Malquist has named Vice President Christy Burmeister-Smith to take over the post of vice president and treasurer for the corporation. Previously Burmeister-Smith was vice president and controller for Avista Corp. Ann Wilson has been named vice president and controller for Avista Corp. Wilson previously was vice president and controller for Avista subsidiary Avista Energy.
“Both Christy and Ann are very well qualified to take on their new roles. Avista is fortunate to have executives of this caliber who will lead our company in strengthening its financial position,” said Malquist.
As vice president and treasurer, Burmeister-Smith will have responsibility for financing and capital activities, including oversight of banking relations, the capital structure of the corporation, pension assets and future corporate financings.
Burmeister-Smith joined Avista in 1980 as an accountant and has served in a variety of roles in the accounting area. Prior to serving as corporate controller, she was the controller for the company’s energy delivery business unit. Burmeister-Smith is a graduate of Boise State University, with a degree in business administration. She has passed the CPA exam, and she has completed various executive development programs. She is active in community activities, including current service on the boards of directors of the Avista Foundation and Leadership Spokane, and upcoming service on the board of directors for United Way of Spokane County.
Returning to Avista Corp., now as vice president controller, Wilson will be responsible for financial and accounting activities as well as records of the corporation, its assets and its business affiliates.
Wilson graduated from the University of California at Santa Barbara, and she is a licensed Certified Public Accountant. In addition, she completed the University of Idaho’s Utility Executive Course in 2005. Prior to joining Avista Energy, Wilson worked
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as the internal auditor for energy trading at Avista Corp. Her career also includes tenure as contract analyst and audit manager at Egghead Software, four years of public accounting and three years of governmental auditing. Wilson has been active in the community through the Junior Achievement program at Wilson Elementary School and other local non-profit organizations.
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 a company operating division that provides service to 330,000 electric and 285,000 natural gas customers in three western states. Avista’s non-regulated subsidiaries include Avista Advantage and Avista Energy. Avista Corp.’s 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.
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