BOISE, Idaho -- IDACORP, Inc. (NYSE:IDA) announced following its May 16 annual meeting the election of Bob Tinstman to serve as the new independent chairman of the boards of IDACORP and Idaho Power Company. Tinstman has been a director since 1999 and chairman of the compensation committee since 2002.
Previously in his career, he served as President and Chief Executive Officer of Morrison Knudsen Corporation from 1995 to 1999, Executive Chairman of James Construction Group from 2002 until 2007, and Chairman of Contractorhub.com from 2000 to 2001.
Effective immediately prior to the IDACORP, Inc. 2013 annual meeting of shareholders, former board chairman Gary G. Michael retired from the boards of IDACORP and Idaho Power Company. Mr. Michael's retirement was in accordance with company bylaws and corporate governance guidelines, which impose a mandatory retirement age of 72. Mr. Michael served with distinction as a member of the boards of directors of IDACORP and Idaho Power Company since 2001.
“I am confident Bob will be an excellent chairman of our boards, and an appropriate successor to Gary,” said IDACORP President and Chief Executive Officer and Idaho Power Company Chief Executive Officer J. LaMont Keen. “He has brought tremendous value to IDACORP and Idaho Power during his tenure as a director, and his proven business acumen and knowledge of a wide variety of disciplines, including construction, allow him to share valuable insights to advance the companies’ business strategy, especially in the area of our ongoing large infrastructure projects.”
Tinstman is also currently a member of the boards of directors of Home Federal Bancorp Inc. since 1999 and Primoris Services Corporation since 2009. Former directorships include Morrison Knudsen Corporation from 1995 to 1999 and CNA Surety Corp. from 2004 to 2011.
He has also served on several charitable/educational boards, including St. Luke's Regional Medical Center, U.S.S. Boise, Danny Thompson Memorial, and the University of Idaho Engineering School.
A Professional Engineer, Mr. Tinstman graduated from University of Wisconsin, Platteville with a B.S. in Mining Engineering in 1968. He lives in Boise.
About IDACORP, INC.
IDACORP, Inc. (NYSE: IDA) is based in Boise, Idaho and was formed in 1998 as a holding company. IDACORP subsidiaries include: Idaho Power, a regulated electric utility; IDACORP Financial, an investor in affordable housing projects and real estate; and Ida-West Energy, an operator of small hydroelectric projects. IDACORP’s origins lie with Idaho Power and operations beginning in 1916. Today, Idaho Power employs more than 2,000 people who serve more than 500,000 customers throughout a 24,000-square-mile area in southern Idaho and eastern Oregon. To learn more, visit www.idahopower.com or www.idacorpinc.com.
Contact: Stephanie McCurdy
Communication Specialist
Idaho Power
208-388-6973 and SMcCurdy@idahopower.com
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