Bohn named to Public Utilities Commission
San Francisco Business Times
San Francisco businessman John Bohn has been appointed to the California Public Utilities commission by Gov. Arnold Schwarzenegger.
He fills a seat to which Peninsula entrepreneur Steve Poizner had been appointed, only to withdraw later saying his many investments could create conflicts of interest.
Bohn is chairman of GlobalNet Venture Partners LLC, a global financial advising and consulting firm in San Francisco. He was previously co-founder and executive chairman of Chematch (now ChemConnect Inc. of Houston), an Internet-based petrochemical trading exchange, from 1997 to 2000, and a managing director of the public relations firm Burson-Marsteller, a unit of WPP Group plc (NASDAQ: WPPGY [ADR]), from 1997 to 1998.
Bohn also served for over seven years as president and chief executive officer of Moody's Investors Service, a unit of Moody's Corp. (NYSE: MCO) beginning his tenure in 1989. Prior to joining Moody's, he was appointed special assistant to United States Treasury Secretary Don Regan in 1981 and was subsequently made ambassador and executive director of the Asian Development Bank.
"John is uniquely qualified to understand how regulatory structures impact investment decisions. His expertise in this area will be invaluable as California moves forward toward attracting necessary new investment in energy infrastructure and technology," said Schwarzenegger, in a written statement. "In telecommunications, technology is fast outstripping the old regulatory structure. More than ever, the PUC needs people, like John, who understand the power of technology to reduce prices and improve services and I am confident he will be an invaluable addition to the Commission."
The PUC is responsible for the regulation of investor-owned utilities, including gas, electricity, telephone, water, railroads and certain passenger and household goods carriers. The specific activities of the PUC include enforcement of safety regulations, regulation of rates for services and promotion of energy and resource conservation. The PUC has an annual budget of approximately $1.2 billion and more than 830 employees.
In April, Poizner said he was removing himself from consideration after getting advice from the California Fair Political Practices Commission that effectively prevented him from voting on many important telecommunications matters facing the CPUC
The appointment of Bohn, which is for six years, must be approved by the state Senate.
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