- After around eight years on the job
- Laud and praise for Ajello
(management-change.com) — Honolulu, Hawaii, February 14, 2017 — Jim Ajello, finance chief of Hawaiian Electric, hands over the reins. It is a change at short notice. As announced by Hawaiian Electric Industries, Inc. in a news release and in a regulatory filing published on Tuesday, February 14, 2017, James A. (Jim) Ajello leaves the post as Chief Financial Officer at the largest supplier of electricity in the state of Hawaii after around eight years on the job, effective April 02, 2017.
Ajello’s duties are taken over by Greg Hazelton, currently Senior Vice President, Finance at Hawaiian Electric Industries, Inc.
“Planned leadership transition process”
The imminent management change is explained as follows. Hawaiian Electric Industries (HEI) said: “Ajello, 63, has been HEI’s CFO since January 2009 and announced his intention to retire as part of a planned leadership transition process.”
Chaired by Jeffrey Watanabe
Hawaiian Electric Industries, Inc. is chaired by Jeffrey N. Watanabe.
CEO: Constance H. Lau
Constance H. Lau serves as CEO of Hawaiian Electric Industries, Inc. Lau was named president and chief executive officer of Hawaiian Electric Industries in May 2006.
On the job as CFO since 2009
Ajello joined Hawaiian Electric Industries, Inc. in January 2009 and serves as its executive vice president and chief financial officer.
Prior to joining HEI, Ajello was senior vice president of business development at Reliant Energy.
He joined Reliant in 2000 as president of Reliant Energy Solutions, and was named Reliant’s senior vice president and general manager of commercial and industrial marketing in 2004.
Ajello’s experience prior to joining Reliant includes serving as managing director of the business development/corporate finance group of UBS Securities, Inc. and as managing director of the energy and natural resources group of UBS/Warburg Securities.
He also worked at Enron North America, and was responsible for a team originating business with large industrial clients.
Before Enron, his work experience included a project management role at the U.S. Synthetic Fuels Corporation and as a management intern with the U.S. Department of Energy focusing on renewable energy development and naval nuclear reactors.
Ajello is a member of the Board of Directors of Crius Energy Trust and chairman of the U.S. Department of Energy’s Environmental Management Advisory Board.
He is also a board member of the Hawaii Pacific University Board of Trustees and its affiliate, the Oceanic Institute, as well as member of the Board of Trustees of Enterprise Honolulu (Oahu Economic Development Board).
Ajello holds a bachelor’s degree from the State University of New York and an MPA from Syracuse University.
In addition, he is a graduate of the Advanced Management Program of the European Institute of Business Administration in Fontainebleau, France.
Upon his retirement, Ajello will join the board of directors of HEI subsidiary American Savings Bank, F.S.B. (American).
Read the full story in the management-change.com report 08.2017 ($).