HECO chief to retire
A replacement has not been chosen yet for T. Michael May
T. Michael May, president and chief executive of Hawaiian Electric Co., the utility subsidiary of Hawaiian Electric Industries Inc., will step down on Aug. 1.
May will assist the company with its transition until his retirement at the end of the year. An executive search process has begun for his replacement.
May, 61, served as president, CEO and a member of the company's board for more than 13 years. He joined HECO in 1992 as senior vice president, and became president and CEO in 1995.
During his tenure, the utility implemented a new dispatch and system-operations center, and increased its use of renewable energy sources.
Besides an upcoming request for proposals to add 100 megawatts of renewable energy on Oahu, HECO has plans to use renewable bio-energy for power generation. Also, the company's energy-efficiency programs have reduced electricity demand by more than 152 megawatts -- the equivalent of a power plant.
"Our company has been working for quite some time to chart a strategic course that is focused on achieving a clean energy future for Hawaii," May said. "I am confident the company is now well positioned to meet the challenges of this changing energy marketplace."
May said he earlier advised the board of his desire to retire, but stayed on to help coordinate strategic planning.
"Now, after a 36-year business career, the time is right for me to retire," May said.