Louisiana Public Service Commission Calls on Cleco Board to Ask - KALB-TV News Channel 5 & CBS 2

Louisiana Public Service Commission Calls on Cleco Board to Ask for Resignation of Company CEO

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FOREST HILL, La. (KALB News Channel 5) -- Louisiana Public Service Commissioner Clyde Holloway (Republican- Forest Hill) called today for the board members of Cleco to ask for the resignation of CEO, Bruce Williamson. 

“Under the leadership of Bruce Williamson, this central Louisiana company no longer practices the type of positive community partnership in this area (central Louisiana) once shared with Cleco, and now the employees of the company have to work under the constant threat the company is for sale due to the fact the board and CEO have no ties to central Louisiana and only a few to Louisiana. It is in the best interest of Louisiana the Cleco board of directors calls for the resignation of their current CEO. ” stated Holloway, who represents 17 parishes (on the Commission) which includes the majority of the Cleco’s customer footprint.

“I am concerned about rate payers and in this particular case, the future economic impact Cleco has on the local economy. At this time, I do not see that “local” interest for Louisiana coming from the CEO of Cleco…and to compound the issue, there is no longer any local representation on Cleco’s board of directors. Out of eight board members, only one is from Louisiana and he is from the New Orleans area,” continued Holloway. 

“Let me be clear, the local leadership, employees and workers of Cleco do a good job, but as the Public Service Commissioner, I take great issue with the fact Cleco’s major corporate decisions are not being made by people in Central Louisiana. Those decisions are being driven by Wall Street rather than central Louisiana,” stated Holloway regarding the recent events of potential suitors looking to purchase Cleco.

Prior to serving as Commissioner, Clyde Holloway was elected to Congress in 1986 where he served for three terms until Louisiana lost the eighth district due to population loss and reapportionment. In 2006 he received an appointment by President Bush as the USDA State Director of Rural Development where he served until January 20 of 2009. Mr. Holloway currently serves as Vice-Chairman of the Louisiana Public Service Commission and represents District IV which is comprised of 17 parishes. 

 

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