LIPA Names New Vice President of Finance

Uniondale, N.Y. - The Long Island Power Authority (LIPA) has named Michael J. Taunton as LIPA’s new Vice President of Finance. Mike will join LIPA from Arrow Electronics Inc. where he served as Vice President and Treasurer since 2007. In addition to being named Vice President of Finance, it is anticipated that Mike will be confirmed as LIPA’s new Chief Financial Officer at this month’s Board of Trustees meeting.

Taunton brings extensive knowledge of the utility business to LIPA, including over 30 years of experience with KeySpan Corporation where he held numerous high-level management positions such as: Senior Vice President, Treasurer, and Chief Risk Officer, Vice President of Investor Relations, and Merger Transition Manager.

“I am delighted to welcome Mike to the LIPA executive team,” said LIPA Chief Operating Officer Michael Hervey. "With his knowledge and experience of the utility business and his impressive credentials, Mike possesses the necessary skills to provide LIPA with strong financial leadership.”

Taunton has an MBA in Finance from Adelphi University and a B.S. in Accounting from St. Francis College. In addition, he has completed the Public Utility Executive Program at the University of Michigan and the Advanced Management program at Harvard Business School.

Prior to Mike Taunton, Herb Hogue served as Vice President of Finance and CFO for LIPA from 2009-2011.

LIPA, a non-profit municipal electric provider, owns the retail electric Transmission and Distribution System on Long Island and provides electric service to more than 1.1 million customers in Nassau and Suffolk counties and the Rockaway Peninsula in Queens. LIPA is the 2nd largest municipal electric utility in the nation in terms of electric revenues, 3rd largest in terms of customers served and the 7th largest in terms of electricity delivered. In 2010, LIPA outperformed all other overhead electric utilities in New York State for frequency of service interruptions, and ranked second for duration of service interruptions. LIPA does not provide natural gas service or own any on-island generating assets. More information about LIPA can be found online at: http://www.lipower.org.

Media Contact Information
Mark Gross
Phone - (516) 719-9892
Media Pager - (516) 229-7248
media.relations@lipower.org

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