Preng & Associates Recruits Chief Risk Officer for PJM Interconnection
October 24, 2022 – Houston-based executive search firm Preng & Associates recently assisted in the recruitment of Carl F. Coscia as vice president and chief risk officer of PJM Interconnection. “Risk management is a critical function for PJM as an organization and for the protection of our members,” said Manu Asthana, president and CEO of PJM. “Carl brings a wealth of risk management, market, and regulatory experience to PJM that will serve us and our stakeholders well.”
Dr. Coscia has more than 20 years of experience in commodity and financial markets, most recently as global head of risk management for German-based energy company EnBW, where his responsibilities included market risk, enterprise risk, credit risk, compliance, and approval for all master trading agreements. He previously served as chief business officer and chief risk officer for Hartree Partners, LP. He also worked as VP of federal energy policy for Constellation Energy, director of wholesale power fundamentals for TXU Wholesale Power Trading, and branch chief for the Federal Energy Regulatory Commission’s Office of Enforcement.
As a member of PJM’s executive team, Dr. Coscia will work closely with PJM’s CEO, other executive team members, and the risk and audit committee of the board to coordinate PJM’s risk management operations, including credit risk, enterprise risk management, market surveillance, and insurance.
“I look forward to managing risk for an organization that is so vital to the lives of the 65 million people it serves,” said Dr. Coscia. “Risk management becomes more important each day in this evolving, dynamic industry that produces and delivers power and administers the markets for wholesale electricity.”
PJM Interconnection is a regional transmission organization (RTO) in the U.S. It is part of the Eastern interconnection grid operating an electric transmission system serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia. PJM is headquartered in Valley Forge, PA.
Energy-Focused Recruiters
Preng & Associates, founded in 1980, is a retainer-based, international executive search firm specializing solely in the energy industry. The firm’s experience spans the entire energy value chain – from the well head to the wall socket. Its subsector verticals have specific expertise in oil and gas (upstream, midstream, and downstream), oilfield equipment and services, power and utilities, renewables, engineering and construction and industrials. The recruiting outfit has conducted more than 3,800 engagements for over 800 companies and placed highly qualified individuals for board, executive management, and professional positions in 91 countries, according to the firm.
David Preng, the firm’s founder, president, and CEO, has worked on over 2,000 energy-related searches during his career, ranging from board and senior executive to managerial and senior technical positions. His current focus is primarily at the board, CEO, and C-suite level roles. Mr. Preng’s industry experience includes financial, managerial, and executive positions with Shell Oil, Litton Industries, and Southwest Industries.
New Challenges for the Energy Sector
Over the last decade, clean technology, solar and electric energy, and sustainability have moved from the periphery to the center of the global economy. Established and emerging companies, along with private equity and venture capital firms, are making massive investments across the field as they stake out expanding areas of the market. This has driven demand for a new breed of leadership, according to a new report from Russell Reynolds Associates.
Related: Preng & Associates Places New Leader for Traverse City Light & Power in Michigan
Among the search firm’s new research are tips for identifying and hiring leaders in cleantech, new energy, and sustainability. “Governments have made sustainability and the technology needed to achieve it a key component of both environmental policy and economic development,” said Russell Reynolds Associates. “The question no longer is whether this trend will take hold but rather when large markets will coalesce and which technologies and companies will prevail. Current global economic conditions and gyrating energy prices have made operating and investment conditions challenging in the short run, but industry players nonetheless are moving to capture mind share and press their speed-to-market advantage.”
Preng & Associates Assists SeekOps in CEO Search
Preng & Associates has assisted SeekOps in the recruitment of Iain Cooper as its new CEO. The move strengthens the current executive team as the company’s founder and CEO of three and a half years, Andrew Aubrey, transitions to a new role as senior vice president of strategic partnerships.
The influence of cleantech, energy, and sustainability extends beyond the diverse array of companies focused on this market space. “Sustainability has become a strategic leadership issue in virtually every industry as enterprises rethink everything from product design to facilities strategies in the face of regulatory developments, increasing scarcity of resources and rising costs,” said the search firm. “Forward-thinking companies are appointing chief sustainability officers to proactively address these issues and turn them into opportunities for growth.”
Related: Preng & Associates Assists Independent Oil and Gas with COO Search
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media
