Wagner named new CFO of Mirant

Wagner, who officially joins Mirant in January, has held a number of CFO positions at companies outside the energy sector. Most recently, he was CFO of Optio Software – an Atlanta-based business software specialist.

He replaces Mirant’s current CFO, Ray Hill, who is moving into academia. Hill has accepted a teaching position at Emory University’s Goizueta School of Business, Georgia.

The energy firm’s financial reporting and trading has been under regulatory scrutiny in 2002. Last month, Mirant reported that it had overstated profits by $41 million during the past three years, and that it will re-audit its books for 2000 and 2001.

Separately, the Federal Energy Regulatory Commission (Ferc) has been investigating power and gas 'wash' trading. In May, Mirant explicitly denied that it had conducted wash trades referenced in the Ferc’s inquiries. At the time, Mirant’s chief executive and president, Marce Fuller, said Mirant had “not performed any simultaneous buy and sell trades with counterparties for the purpose of inflating its trading volumes or revenues".