Edison Chairman Announces Retirement

ROSEMEAD, CA - Edison International announced Wednesday that Theodore F. Craver Jr., the Rosemead-based company's chairman, president and CEO, will step down this fall and be replaced by the president of its principal subsidiary.

Craver's retirement, effective Sept. 30, is in keeping with the company's practice of its CEO retiring upon reaching age 65, according to Edison.

Pedro J. Pizarro will succeed Craver as CEO and president, and was elected to the Edison International board, effective June 1. He has served the company for more than 16 years, currently as president of Southern California Edison, one of the nation's largest electric utilities.

The company opted to separate the roles of chair and CEO. Independent director William P. Sullivan, retired CEO of Agilent Technologies, will become non-executive chair.

Kevin M. Payne and Ronald O. Nichols, who both currently hold the title of senior vice president, will become SCE's CEO and president, respectively.

W. James Scilacci, Edison International's executive vice president and chief financial officer, will retire on Sept. 30 and be succeeded by Maria Rigatti, SCE's senior vice president and CFO.

SCE's vice president and treasurer, William M. "Tres" Petmecky, will succeed Rigatti as the utility's senior vice president and CFO.

--City News Service, photo courtesy of Edison