Citing Work Ahead, Calpine Asks To Keep Its CEO

Law360, New York (August 21, 2007, 12:00 AM EDT) -- Bankrupt Calpine Corp. has asked a judge to extend the tenure of its current chief executive officer until June 2008, saying his continued leadership is needed as it faces the challenges of Chapter 11 plan confirmation and emergence.

The motion, filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, said that Robert P. May's contract would expire at the end of the year without an additional agreement. He was first hired in May 2006 to help steer Calpine through bankruptcy....
To view the full article, register now.