Calpine ousts founder

- Energy Risk
- 01 Dec 2005

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California power company Calpine has replaced Peter Cartwright, its chairman, president, chief executive and founder, prompting speculation the debt-laden firm could be in for a restructuring. Chief financial officer Robert Kelly has also been shown the door. The company's board says these management changes are "essential to better address Calpine's financial challenges and to provide a new direction for the company," adding that it will announce permanent replacements soon.

Calpine is still

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