Tenaska Marketing Ventures Announces Strategic Succession Planning

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Mar 28, 2024, 10:35 ET

Welcomes New Leadership as Experienced Executive Prepares for Retirement

OMAHA, Neb., March 28, 2024 /PRNewswire/ -- Tenaska Chief Executive Officer Chris Leitner today announced the promotion of Tim Kudron to president of Tenaska Marketing Ventures (TMV), a Tenaska affiliate and leading North American natural gas marketer. Kudron, a 28-year employee of Tenaska, board member and current chief financial officer of TMV replaces Mark Whitt who will be retiring. Current Senior Vice President of Credit Risk, Mark Soulliere will become CFO of TMV. Kudron and Soulliere will step into their new roles effective April 1, 2024.

"This planned succession is a testament to TMV's dedication to preserving a customer-focused culture and reinforces its leading market position," said Leitner. "Tim brings a wealth of financial and energy industry knowledge to the position and his decades-long experience as an executive at Tenaska will allow TMV to build upon the robust foundation that Whitt maintained and enhanced, reflecting Tenaska's proactive approach to seize new opportunities and drive future growth."

Leadership Transition and Sustained Excellence
After dedicating 22 years to TMV, Whitt is slated to retire in March 2025. He will assume an executive advisory role at Tenaska to work closely with Kudron. This collaboration will span over the next year, allowing for a smooth transition to facilitate the handover of responsibilities and maintain TMV's strong performance and customer relationships.

Under Whitt's leadership, TMV not only maintained its leading position in the industry but has also achieved significant growth. Since 2020, TMV's natural gas wholesale volumes have increased. The company has expanded its customer base and extensive storage and transportation assets, securing its position as the No. 1 physical gas marketer in the U.S., according to S&P Global Platts Gas Daily and Natural Gas Intelligence. Consistently achieving top ranking in MASTIO & Company's Natural Gas Marketer Customer Value/Loyalty Benchmarking Study within the Major Marketing Group category, TMV has claimed this honor eight times in the last ten years and remained among the top 5 since 2007.

"I am proud of our accomplishments at TMV and am grateful for the opportunity to work with our customers as well as our talented and committed team," said Whitt. "Our reputation for reliability and exceptional customer service is a testament to this team's dedication and expertise. We have an extremely strong commercial team coupled with our best-in-class operations group that will continue to provide exceptional customer service. I have full confidence in Tim and Mark to uphold these values and drive TMV's success into the future."

Strong Leadership and Strategic Direction
Both Kudron and Soulliere bring over two decades of dedicated service and a wealth of industry knowledge to their new roles. Kudron's career at Tenaska began in 1995, where he has held various roles in corporate accounting, finance and administration. His rise to the role of senior vice president of finance set the stage for his position as TMV's CFO. As President of TMV, Kudron's leadership extends to overseeing the entire operation.

Soulliere's tenure at TMV started in 1997 as the sole risk analyst. He initially led the market risk, deal capture, and credit groups during TMV's formative years. Subsequently, he dedicated his efforts to enhancing the credit system and assembling a team to support the trade floor as TMV continued to expand its footprint. As CFO of TMV, Soulliere will have direct oversight of all accounting and back-office functions.

"Mark Whitt has been a key contributor to Tenaska's success and a respected leader in the industry. We thank him for his dedication," Leitner said. "The board and I are confident that Tim will continue to provide strong leadership and strategic direction for TMV as we navigate the evolving energy markets."

About Tenaska Marketing Ventures
Tenaska Marketing Ventures / Tenaska Marketing Canada / Tenaska Gas Storage (TMV) is an affiliate of Omaha, Nebraska-based energy company Tenaska. TMV offers tailored solutions to meet wholesale customers' needs for natural gas buying and selling, price hedging, asset management, and supply and demand volume swing management. For more information, visit www.tenaska.com.

About Tenaska
Consistently ranked among Forbes' List of America's Largest Private Companies, Tenaska is a leading energy company with business operations that span the energy value chain. Tenaska Marketing Ventures (TMV) and Tenaska Power Services Co. (TPS) are among the largest natural gas and electric power marketing companies in North America. The company has an operating fleet of 7,700 megawatts (MW) of natural gas and renewable generating facilities and throughout its history has developed, managed and/or operated approximately 22,128 MW of natural gas-fueled and renewable generation. Tenaska's development services portfolio includes more than 28,887 MW of solar, wind and energy storage projects including 10 carbon sequestration projects capable of storing 50 million metric tons of CO₂ per year. Tenaska seeks investment opportunities to allocate its capital into generation assets nationwide. For more information, visit www.tenaska.com.

Contact:
Leighton Eusebio
402-691-9534
[email protected]

SOURCE Tenaska