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TheStreet Open House

NiSource Shareholders Elect Two New Directors

Stocks in this article: NI

MERRILLVILLE, Ind., May 15, 2012 /PRNewswire/ -- NiSource Inc. (NYSE: NI) shareholders today elected two new directors to the company's Board of Directors for 2012-13. 

The new directors, Aristides S. Candris and Teresa A. Taylor , were among 12 NiSource Board Members elected at the company's 2012 annual shareholders meeting.  

Candris is a Senior Advisor at Westinghouse Electric Company, where he served as President and Chief Executive Officer until his retirement on March 31, 2012.   He also serves on the boards of Carnegie Mellon University and Transylvania University.  Taylor served as Chief Operating Officer of Qwest Communications, Inc., until April 2011.  She also is a director of First Interstate BankSystem, Inc.

Rolland announces plans to retire from NiSource Board

At today's annual meeting, NiSource Board of Directors Chairman Ian M. Rolland announced his intention to retire from the NiSource Board in May of 2013, following the one-year term to which he was elected today.

"It has been a privilege to serve on the NiSource Board over the past 34 years," Rolland said.  "I can say without hesitation that the company is in the best position it's been in for years, as evidenced by the company's success in meeting the needs of customers while generating sustainable earnings growth and shareholder value."

Rolland joined the NiSource Board in 1978, and has served as its Chairman since November 2006.  Prior to his retirement in 1998, he served as Chairman and Chief Executive Officer of Lincoln National Corporation of Ft. Wayne, Ind., a provider of financial products and services.  In addition to his role as Chairman of the NiSource Board, Rolland sits on the boards of more than a dozen non-profits and charities. In April, Indiana Governor Mitch Daniels honored him with the 2012 Sachem Award, which recognizes his outstanding contributions to the state.

"Those of us who have the privilege of working with Ian know that he personifies what it means to 'do the right thing,'" NiSource President and CEO Bob Skaggs said.  "Ian serves as a towering example for all of us at NiSource as we aspire to excellence, integrity and generosity in our professional and personal lives.  It goes without saying that he will leave big shoes to fill on the NiSource Board."

Rolland noted that the NiSource Board's succession planning process will guide selection of his successor.

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