HOUSTON, June 9, 2011 /PRNewswire/ -- The Board of Directors of Integrated Electrical Services, Inc. (NASDAQ: IESC) today announced the appointment of James M. Lindstrom as Interim Chief Executive Officer and President of IES. Lindstrom succeeds Michael J. Caliel, who will be leaving the Company, effective June 30, 2011, to pursue other interests. The Board of Directors recognizes the contributions and efforts that Mr. Caliel has made to the organization since he joined the Company in 2006 and wishes him well in his future endeavors.
"Over the past five years, Mike Caliel has led IES' transformation from a collection of individual electrical and communications contractors to three distinct IES branded divisions focused on the Residential, Commercial & Industrial, and Communications sectors," said Lindstrom. "Since late 2010, Mike and I have worked together with corporate and divisional management to revise management incentives to align more closely with shareholder interests, as well as reallocate financial resources to our leading business units and transfer certain corporate responsibilities to the Company's three business divisions to ensure that our employees can deliver the highest quality service to their individual marketplaces in an efficient and profitable manner."
Consistent with this reallocation of resources to the Company's three business divisions, Thomas Santoni, previously Vice President, Central Division, Commercial & Industrial, has been promoted to the position of President, IES Commercial & Industrial. Santoni joins fellow Divisional Presidents, Donald Fishstein, IES Communications and Dwayne Collier, IES Residential. Santoni has been with IES for 16 years, serving in various management positions in the commercial and industrial businesses. He attended the University of Illinois Champaign-Urbana.
Lindstrom also announced that a search has begun to fill the role of the newly formed corporate level position to lead IES' operational risk management efforts. This position will oversee risk management activities, with an initial focus on successful major project execution in the Company's Commercial & Industrial division.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV