Thomas Sayles Elected President of the Board of Water and Power Commissioners Eric Holoman Elected Vice President

Thomas Sayles Elected President of the Board of Water and Power Commissioners

Eric Holoman Elected Vice President

LOS ANGELES — In a unanimous vote of support at its meeting on December 20, 2010, the Los Angeles Department of Water and Power Board of Water and Power Commissioners elected Thomas Sayles President of the Board of Water and Power Commissioners to replace current two-term President, Lee Kanon Alpert, a partner in the Encino based law firm of Alpert Barr & Grant, after Alpert announced shortly after Thanksgiving that he would retire from the Board at year’s end.

Mr. Sayles currently serves as Vice President, Government and Civic Engagement for the University of Southern California (USC). Prior to joining USC, Mr. Sayles served as the Senior Vice President, Government Relations and Corporate Communications for Rentech Inc., an alternative fuels company headquartered in Los Angeles.

From 1994 to 2007, Mr. Sayles worked for Sempra Energy and its predecessor companies. He has also served as California Commissioner of Corporations; California Secretary of Business, Transportation and Housing; and practiced law in the private and public sector.

“I am humbled and honored to be elected President of the Board of Water and Power Commissioners,” said Mr. Sayles. “As Commission President, my priorities will be maintaining and establishing policies that enable the Department to provide our customers reliable and low-cost water and power, ensure the safety of our customers and employees, and enhance the Department’s transparency and accountability.”

“I congratulate Tom Sayles on his unanimous election as the new Commission President,” stated Mr. Alpert.  “Tom has significant industry experience, a passion for this Department and furthering its positive goals and will bring fresh, positive leadership as President.  He has been a pleasure to work with, a tremendous confidant and I am honored to call him my friend.”

The Board also unanimously elected Commissioner Eric Holoman as its Vice President. Mr. Holoman is President of Magic Johnson Enterprises, where he oversees operations including strategy, finance and business development for the organization.

Prior to joining the company, Mr. Holoman served as Senior Vice President and Regional Sales Manager of Wells Fargo Bank’s Private Client Services Division and concluded his career at Wells Fargo as head of the private mortgage bank in Los Angeles.  Mr. Holoman served as president of the Los Angeles City Employees’ Retirement System from July 2005 – October 2009. He recently served on the Federal Reserve Bank of San Francisco Los Angeles Branch board of directors.  He is a National Association of Securities Dealers-registered General Securities Principal, Municipal Principal, and Options Principal.  He also is a Registered Investment Advisor. Mr. Holoman holds a degree in Finance from the University of Southern California

Mr. Sayles and Mr. Holoman will begin their terms effective January 2011.

The Board of Water and Power Commissioners is the governing body of the LADWP, the nation’s largest municipal utility serving 1.4 million electric customers and 680,000 water customers.  Each Board commissioner is appointed to five-year terms by the Mayor, subject to confirmation by the City Council, and serves on a voluntary basis.