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February 9, 2002 (N) NYSE:STR 02-03
Contact: R. Curtis Burnett Business: (801) 324-5647
QUESTAR ANNOUNCES SENIOR MANAGEMENT CHANGES Don Cash Will Step Down As CEO After 20 Years
SALT LAKE CITY The Board of Directors of Questar Corp. (NYSE:STR) today announced that Don Cash will step down as chief executive officer, effective May 1, 2002. He will continue as chairman of the Board of Directors.
The Board approved the promotion of Keith O. Rattie to president and chief executive officer, also effective May 1. Mr. Rattie previously served as Questar president and chief operating officer.
Mr. Cash said his decision to step down as CEO "culminates a two-and-a-half year transition to new leadership that can guide Questar to the next level of its development as a leading regional energy company." Cash, who will be 60 in June 2002, became president and chief executive officer of Mountain Fuel Supply Co., a Questar predecessor company, on March 1, 1982. He resigned from his position as president on Feb. 1, 2001. He has served as chairman of the board since 1985.
Mr. Cash said: "Questar is in excellent shape following two consecutive years of record earnings. We are well positioned to capitalize on the strong fundamentals for natural gas. Our organization is strong, our people are focused and productive, and our strategies are working. I have been a CEO for 20 years and have accomplished most of the goals I set out to do thanks to the many fine employees I have worked with over the years. Now, Questar is very fortunate to have Keith Rattie, who has demonstrated tremendous leadership ability in his capacity as president and chief operating officer over the last year. I have every confidence that he and his management team will accomplish their growth strategies, and I'm looking forward to working with them in my position as Chairman of the Board."
Mr. Rattie joined Questar in February 2001 as president and chief operating officer. He previously served as senior vice president of Coastal Corp. and president and chief executive officer of Coastal Gas Services Co. Mr. Rattie also worked for Chevron Corp. in various engineering and management positions, including general manager of Chevron's international gas unit.
Mr. Rattie said: "Over the past 20 years, Don Cash has directed the transformation of this company from what was widely perceived as a small utility to what Questar is today the West 's most respected and dynamic energy company. But what sets Don apart is the high standard he sets for ethics and integrity in business and the community."
Questar is a $2.9 billion diversified natural gas company headquartered in Salt Lake City. Through subsidiaries, it engages in energy development and production; gas gathering and processing; wholesale gas, electricity and liquids trading; retail energy services; interstate gas transmission and storage; retail gas distribution; and information systems and technologies.
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