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Cleco announces executive leadership changes

PINEVILLE, La., July 31, 2013 - Cleco Corporation (NYSE: CNL) today announced changes to its executive management team and the management team of Cleco Power LLC, its regulated utility subsidiary.  

Darren J. Olagues, who is currently Cleco Corporation's senior vice president and chief financial officer, will become president of Cleco Power LLC.

Thomas R. Miller, who is currently vice president and treasurer, will become senior vice president and chief financial officer of Cleco Corporation.

Charles A. Mannix, who is currently general manager of tax and strategic planning, will become vice president of tax and treasurer. Mannix will report to Miller.

"For the past two years, our strategy has been to focus our attention on our core business functions to spur growth through our regulated utility business," said Bruce A. Williamson, president and CEO of Cleco Corporation. "These executive changes will strengthen the management structure we put into place in February 2012. Darren will bring leadership and a strong financial understanding of our industry to support our team approach as we identify and capture business opportunities for Cleco Power. Tom and Chuck will use their experience and skills to further develop Cleco Corporation's efforts to advance our strategy."

Olagues, 42, has held the position of senior vice president and chief financial officer of Cleco Corporation since May 7, 2009, including serving as treasurer from November 2011 to July 2012. Prior to becoming chief financial officer, Olagues served as senior vice president of Cleco Midstream Resources LLC, Cleco's competitive wholesale generation business, from July 2007 through May 2009.

Miller, 53, joined Cleco in July 2012 as vice president and treasurer of Cleco Corporation. Prior to joining Cleco, Miller served as senior vice president and treasurer of Solar Trust of America LLC from November 2010 until July 2012 and vice president, treasury of Exelon Corporation from June 2002 until August 2010.  Miller also has previous experience with Conoco Inc. and Florida Power & Light Company.  

Mannix, 54, has been with Cleco since 2008 and has served in various financial capacities, including strategy, tax and treasury. Before coming to Cleco, Mannix served as manager of income tax and treasurer of Energy Risk Assurance Company, a subsidiary of Ameren Corporation, from 2004 until 2007.

These changes will be effective Aug. 3, 2013. 

Cleco Corporation is a regional energy company headquartered in Pineville, La. Cleco owns a regulated electric utility company, Cleco Power LLC, which owns nine generating units with a total nameplate capacity of 2,565 megawatts and serves approximately 283,000 customers in Louisiana through its retail business and 10 communities across Louisiana and Mississippi through wholesale power contracts.  Cleco also owns a wholesale energy business, Cleco Midstream Resources LLC, which owns two natural gas-fired generating units with a total nameplate capacity of 775 megawatts.  For more information about Cleco, visit www.cleco.com.

Analyst Contact:        
Tom Miller
(318) 484-7642

Media Contact:
Robbyn Cooper
(318) 484-7136

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