MONDAY, MAY 21: Walter M. Higgins III has been appointed president and CEO of Ascendant Group Limited.

Mr. Higgins, who is American, succeeds Bermudian A.L. Vincent Ingham, who retired from the position on December 31, 2011.

The Ascendant Group is the parent company of BELCO and Bermuda Gas, among other entities.

Mr. Higgins has been a director, chairman, President and CEO of two large U.S. energy companies including: Sierra Pacific Resources (now NVEnergy) which serves most of Nevada and parts of California; AGL Resources, the parent company of Atlanta Gas Light; as well as president and COO of Louisville Gas & Electric, in Kentucky.

Mr. Higgins served as a technical assistant at the US Nuclear Regulatory Commission and is a nuclear engineer, having trained at the US Naval Academy.

Ascendant Group chairman, J. Michael Collier said: “We are very pleased to be welcoming an energy professional of Mr. Higgins calibre to our organisation.

“His 37-year career has primarily revolved around the utility industry, initially working in utility services, regulation and later in top management positions. “Among his successes, Mr. Higgins has led companies through deregulation, mergers, acquisitions, repositioning and succession planning.

“At the end of 2010, the Ascendant Group Board of Directors initiated a long-range leadership and succession planning strategy. The Board of Directors also adopted a number of strategic initiatives developed under the leadership of now Senator A.L. Vincent Ingham.

“Mr. Higgins will be working with the executive and senior management teams to deliver the Group’s strategic initiatives, the focus of which is primarily to grow and diversify business units, manage policy and regulatory risks and ensure adequate financial and human resource organisational capacity, with emphasis on succession planning.”

Ascendant Group Limited is the parent company of operating companies Bermuda Electric Light Company Limited (BELCO), Bermuda Gas & Utility Company Limited, PureNERGY Renewables Ltd., Sigma Corporate Services Company Limited and inVenture Limited, as well as BELCO Properties Limited and BTS Limited.