Governor Andrew M. Cuomo today nominated John Koelmel, the President & CEO of First Niagara Financial Group Inc., to serve on the New York Power Authority (NYPA) Board of Trustees. The Governor also recommended Mr. Koelmel as next Chairman of the NYPA Board, pending his Senate confirmation.
"With decades of experience in key leadership and management positions with major private sector organizations, John Koelmel has the expertise needed to be a strong and effective voice on the NYPA Board of Trustees," Governor Cuomo said. "NYPA plays a key role providing low-cost, clean power to homeowners and businesses across the state, helping create jobs and grow our economy. I believe John's corporate experience and Western New York roots will be an asset to NYPA's continued work to fuel the state's economic recovery."
John Koelmel said, "For New York State to come back stronger than ever, and to rebuild a vibrant and sustainable economy, we need affordable, clean power. I look forward to working together with the NYPA Board of Trustees, the Authority's senior leadership, and Governor Cuomo to ensure the state's businesses- which are our engines for economic growth- have the power they need to invest, grow and create jobs. I thank the Governor for this opportunity."
NYPA Vice Chair John Dyson said, "I am looking forward to John Koelmel joining the NYPA Board of Trustees and to acting on Governor Cuomo's recommendation to elect Mr. Koelmel as the next Chair of the Board. NYPA, as well as New York ratepayers and businesses, stand to benefit from his decades of management experience as the Power Authority works to continue investing in clean energy projects and providing low cost power throughout New York State."
Senator George Maziarz, Chair of Senate Energy and Telecommunications Committee, said, "I commend Governor Cuomo for nominating John Koelmel to serve on the NYPA Board of Trustees, and recommending him as the next Chairman. Mr. Koelmel's business acumen and familiarity with the Western area of New York State make him a smart choice to join the NYPA Board. I look forward to working together with Mr. Koelmel, Governor Cuomo, and the Power Authority to make sure New York State businesses and homeowners continue to have access to clean, affordable power."
Koelmel has served as President & CEO of First Niagara Financial Group Inc., since 2006. He joined the company in January 2004 as Executive Vice President and Chief Financial Officer. Mr. Koelmel spent the initial 26 years of his career at KPMG LLP, serving as Managing Partner of the Buffalo office and the firm's Upstate New York Business Unit. He has held leadership roles in numerous professional and community organizations in Buffalo and Western New York. Mr. Koelmel is currently chair of the Kaleida Health Board of Directors, the largest health care provider in Western New York through its five hospitals and numerous community health care centers. He is a Certified Public Accountant and holds a Bachelor's degree in Economics and Accounting from the College of the Holy Cross.
Established by Governor Franklin D. Roosevelt in 1931, the New York Power Authority is America's largest state power organization, with 17 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA's customer base includes large and small businesses, not-for-profit organizations, community-owned electric systems and rural electric cooperatives and government entities, and the Authority provides low-cost power to help support nearly 370,000 jobs statewide while reducing public-sector costs. NYPA does not depend on any tax revenue or state credit, financing construction projects through bond sales to private investors. For more information, visit: www.nypa.gov.
Mr. Koelmel will be replacing current NYPA Chairman Michael Townsend who joined the Board of Trustees in 2004 and has served as Chair since 2009. Mr. Koelmel's nomination is subject to confirmation by the New York State Senate.