Message-ID: <9106502.1075857391898.JavaMail.evans@thyme>
Date: Mon, 31 Jul 2000 11:07:00 -0700 (PDT)
From: office.chairman@enron.com
To: all.worldwide@enron.com
Subject: Organisational Announcement - Introducing Enron Global Markets
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Office of the Chairman
X-To: All Enron Worldwide
X-cc: 
X-bcc: 
X-Folder: \Errol_McLaughlin_Jun2001\Notes Folders\Discussion threads
X-Origin: McLaughlin-E
X-FileName: emclaug.nsf

As evidenced by an exceptionally strong performance in the second quarter,=
=20
Enron=01,s wholesale energy businesses in North America and Europe continue=
 to=20
experience tremendous growth.  The opportunities to continue to grow our=20
natural gas and power businesses have never been better and it is critical =
to=20
Enron=01,s future success that we remain focused on expanding these busines=
ses=20
and maintaining the strong momentum we have in these markets.

It is equally important that we continue to develop new businesses outside =
of=20
gas and electricity, which can make significant contributions to our earnin=
gs=20
growth.  We have made significant progress in developing these businesses i=
n=20
North America, Europe, and most recently in our new Net Works business unit=
. =20
Included in these global businesses are our efforts in crude and products,=
=20
coal, emissions, insurance, currency, equity trading, interest rates, credi=
t=20
trading, paper and pulp, and metals.

While significant progress has been made in these efforts we need to=20
accelerate the growth of these new businesses while continuing to=20
aggressively expand our core gas and electricity businesses in North Americ=
a=20
and Europe.  In order to accomplish these two objectives and to capitalize =
on=20
the increasingly global opportunities in these new businesses we are today=
=20
announcing the formation of a new business unit =01) Enron Global Markets. =
 This=20
new business unit will focus on markets and commodities which are global in=
=20
scope, but outside our traditional gas and power markets.  This new core=20
business unit will operate in parallel with and in close coordination with=
=20
the North American and European businesses.

Enron Global Markets will be headed by Mike McConnell, President and Chief=
=20
Executive Officer, and Jeff Shankman, Chief Operating Officer.  They will=
=20
report to Mark Frevert who will be Chairman of Enron Global Markets.  Mark,=
=20
Mike and Jeff will comprise the Office of the Chairman for Enron Global=20
Markets.

Included in this new business unit and reporting to the Office of the=20
Chairman will be the following businesses and their leaders:
- Global Crude and Products:     John Nowlan
- Coal:         George McClellan
- Currency, equities, interest rate and agricultural trading:  Gary Hickers=
on
- Insurance and weather:      Jere Overdyke

Enron=01,s metals business and Enron Credit.com will remain the responsibil=
ity=20
of Enron Europe. The Paper and Pulp business will continue to reside in Nor=
th=20
America.=20

With the departure of Mike McConnell from Enron Net Works, we are pleased t=
o=20
announce the following appointments in that business unit:
- Jeff McMahon: President and Chief Operating Officer
- Louise Kitchen: Chief Commercial Officer
- Philippe Bibi:  Chief Technology Officer

Jeff, Louise and Philippe, along with Greg Whalley,  will comprise the Offi=
ce=20
of the Chairman for Enron Net Works.

With Jeff Shankman=01,s departure from Enron North America=01,s natural gas=
=20
operation, all of Jeff=01,s direct reports will report to John Lavorato.

We are also pleased to announce the following changes to the Enron North=20
America Office of the Chairman.  John Lavorato will join the ENA Office of=
=20
the Chairman as Chief Operating Officer.  Dave Delainey will assume the rol=
e=20
of President and Chief Executive Officer.  Mark Frevert will retain his rol=
e=20
as Chairman of Enron North America in addition to his role as Chairman of=
=20
both Enron Global Markets and Enron Europe.

Please join us in congratulating everyone in their new assignments and in=
=20
supporting the new Enron Global Markets organisation.