A former Blue Cross and Blue Shield executive is one of five Louisiana residents who will be appointed to Cleco’s Board of Directors, after the company is officially acquired by a group of investors, Cleco Partners announced today in a news release posted to NasDaq.
Peggy Scott of Baton Rouge will sit on the board along with Rick Gallot of Ruston, Randy Gilchrist of Lecompte, Bruce Wainer of Metairie, and Darren Olagues of Alexandria. Olagues will become Cleco’s president and CEO following the closing of the transaction.
Scott recently retired from Blue Cross and Blue Shield of Louisiana. She held several titles there, including executive vice president, chief operating officer, treasurer and chief financial officer. She graduated from the LSU with a bachelor’s in accounting and holds an executive MBA from Tulane.
The investor group, also known as Cleco Partners, is led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corp., with John Hancock Financial and other Infrastructure investors.
“Keeping Cleco a locally-managed, Louisiana-focused company is very important to us,” says Andrew Chapman, senior managing director of Macquarie Infrastructure Partners Inc., which is the manager of Macquarie Infrastructure Partners III, in a statement. “We are pleased to have secured such an impressive group of directors representing different regions of Louisiana. These individuals will each bring a valuable perspective to the board through their broad range of expertise and experience.”
