Avista Board Elects Malyn Malquist as CFO

November 12, 2002 by Jeff Shepard

Avista Corp. (Spokane, WA) announced that the company's board of directors has elected Senior Vice President Malyn Malquist as Chief Financial Officer, effective November 15, 2002. Malquist joined Avista in late September and succeeds Avista Senior Vice President Jon Eliassen as CFO. Eliassen will remain with the company to ensure an orderly transition and will officially retire from the company in April 2003.

"Malyn has been an excellent addition to Avista's leadership team. His long experience in the utility business sector and his impressive background in finance and management have already been of tremendous value to our company," said Gary Ely, Avista board chairman, president and chief executive officer. "He brings strong leadership to this position and will drive our continued focus on strengthening the company's financial position."