updated: 1/27/2012 3:55:33 PM
Steven Beering is retiring from the board of directors for Merrillville-based NiSource Inc. (NYSE: NI). The former Purdue University president has been on the panel for 25 years and will leave the board once his current term expires.
January 27, 2012
MERRILLVILLE, Ind., Jan. 27, 2012 -- The NiSource Inc. (NYSE: NI) Board of Directors today announced that Dr. Steven C. Beering, 78, has elected to retire at the end of his current term following 25 years of service as director.
"Steve's dedication and commitment to NiSource have proven invaluable to the company and our Board," Ian M. Rolland, Board Chairman noted. "During his tenure, Steve has helped position NiSource as one of the country's leading energy companies, paving the way for sustained value for customers and shareholders. On behalf of the entire Board, I extend our deep appreciation to Steve for his contributions and many years of service."
"It has been a great privilege to be a part of NiSource's remarkable transformation," Dr. Beering said. "And, I can say with confidence that I believe NiSource today is better than ever, with strong leadership, a great team of talented employees and a solid, well-established growth strategy. I am proud of my service on the Board, and will watch NiSource's continued progress with great interest."
Dr. Beering served as president of Purdue University from 1983 to 2000, and previously was dean of the Indiana University School of Medicine. In 2010 he completed a term as chairman of the National Science Board. He is a member of the NiSource Board of Directors' Corporate
Governance, Environmental Safety & Sustainability, and Officer Nomination & Compensation committees.
As part of NiSource's commitment to contemporary governance practices, the Board has established a search committee comprised of independent directors, and has engaged an external search firm, to aid in locating qualified candidates to fill Dr. Beering's director seat. Members of the Board stand for re-election by shareholders annually.
NiSource Inc. (NYSE: NI), based in Merrillville, Ind., is a Fortune 500 company engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution. NiSource operating companies deliver energy to 3.8 million customers located within the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England. Information about NiSource and its subsidiaries is available via the Internet at www.nisource.com.
Source: NiSource Inc.