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El Paso Electric elects new chairman and vice chairman

Staff writer | El Paso, Tx., USA | February 9, 2015
Charles A. YamaroneFebruary 9, 2015, El Paso, Tx., USA - The El Paso Electric Company announced the election of board members Charles A. Yamarone as the new chairman of the board of directors and El Pasoan Edward Escudero as vice chairman of the board.
El Paso Electric's new Chairman, Mr. Yamarone, is currently a Managing Director of Houlihan Lokey and has been a director of El Paso Electric since 1996. He manages the Capital Markets Group at Houlihan Lokey, providing leadership to a team of 25 professionals crafting customized financing solutions for the firm's clients.

Mr. Yamarone is a director of United Continental Holdings, Inc. (United Airlines), and was chairman of their compensation committee since United Airlines and Continental Airlines merged in 2010 until June 2014.

Mr. Yamarone will replace departing Chairman, Michael K. Parks, who has resigned in order to accept a position with a global investment management firm.

Mr. Parks retired as Managing Director of Crescent Capital Group, LP at year-end 2013. Mr. Parks served as Managing Director of Crescent and for limited purposes as a Managing Director of Trust Company of the West ("TCW") from 2011 through 2013 and prior to that was a Managing Director of TCW since 2000.

Prior to joining Crescent and TCW, Mr. Parks held various executive level positions at Aurora National Life Assurance Company from 1993 to 2000, including Chief Executive Officer, President and Chief Investment Officer from 1996 to October 2000. From 1981 to 1992, he held various positions at Salomon Brothers Inc. He served as a director of E*Trade Financial Corp. (formerly, E*Trade Group Inc.) from April 2003 until May 2012 and served on its audit committee and finance risk oversight committee.

He also served as a director of Aurora National Life Assurance Company until 2012. He has been a director of the Company since 1996 and served as Chairman of the Board since July 2012, and previously served as Vice Chairman of the Board from November 2005 through July 2012.

Mr. Escudero has been a director of El Paso Electric Company since 2012 and is President and Chief Executive Officer of High Desert Capital LLC, a finance company specializing in providing various types of capital alternatives to small-to-mid-size companies.

Previously, he served as the Secretary and CFO of Petro Stopping Centers, L.P. Mr. Escudero serves on several local boards, including the Medical Center of the Americas Foundation, WestStar Bank, Sierra Providence East Medical Center, Council for Regional Economic Expansion and Educational Development and the El Paso Hispanic Chamber of Commerce.