Chugach Board of Directors statement

The Board of Directors and Joe Griffith announce that Mr. Griffith will be stepping down from his position of Chief Executive Officer of Chugach Electric Association, Inc. on September 2, 2005. After extensive deliberations and consultation with Mr. Griffith, Mr. Griffith’s desire to attend to health and family matters at this time and the Board’s desire to plan for the future led us to this mutual decision. Mr. Griffith will remain as CEO until then and is assisting the Board in developing and implementing an appropriate transition plan.

The Board of Directors would like to take this opportunity to express its great appreciation of and highest respect for Joe Griffith for all he has done for the Association during his nearly 16 years of service. Mr. Griffith served as the Association’s CEO since May 2002. Prior to that, he served as its Chief Financial Officer and Executive Manager, Finance and Planning since 1989. Mr. Griffith has also ably and unselfishly represented the Association and the community through his involvement with Commonwealth North, the Anchorage Museum Board of Directors, AEDC Board, UAA Business College board of Advisors, Chamber of Commerce, United Way and other civic organizations.

The Board of Directors will begin the process of selecting a new CEO for the Association in the near future. In the meantime, inquiries should be directed to Board Chairman Jeff Lipscomb at 762-4709.