Risk & Compliance

Another Enron CFO Departs

An associate director for the restructuring company that has managed Enron will serve as interim chief financial officer.
Stephen TaubOctober 5, 2004

Houston-based energy company Enron Corp. announced in a government filing Friday that Raymond M. Bowen resigned as executive vice president, chief financial officer, and treasurer, effective immediately.

Bowen, who joined Enron in 1996, became treasurer in November 2001, shortly before the company declared bankruptcy, according to the Associated Press; he was named CFO the following January. He submitted his resignation ”to pursue other professional opportunities,” added the AP, citing a company spokeswoman.

“Ray Bowen is absolutely a stand-up guy,” said Andrew Entwistle, a lawyer who represents institutional-investor claimants against Enron, reported the Houston Chronicle. “He worked tirelessly through the most difficult period following all the disclosures to marshal the company’s assets” and to cooperate with Kroll Zolfo Cooper LLC, the restructuring firm that has been managing the company.

Robert S. Bingham, an employee of Kroll Zolfo Cooper since February 1999 and an associate director of restructuring for Enron since February 2002, was named interim chief financial officer and interim treasurer.

Previously, Bingham he served as vice president and chief financial officer of Pick Telecommunications Corp., a provider of long-distance and prepaid calling-card telecommunications services, from January 1997 to February 1999. Bingham also serves as a director for Portland General Electric Co., an Enron subsidiary, where he chairs the audit committee and serves on the compensation committee.

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