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WestCoast Hospitality Corporation Appoints Jon E. Eliassen to Board of Directors |
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August 28, 2003 SPOKANE, Wash. - WestCoast Hospitality Corporation (NYSE:WEH) today announced the appointment of Jon Eliassen to the Company's Board of Directors. |
Mr. Eliassen, 56, is recently retired from his position as Senior Vice President and Chief Financial Officer of Avista Corporation (NYSE:AVA). With the addition of Mr. Eliassen the Company will have seven Directors, four of which are independent from the Company.
Donald Barbieri, Chairman of the Board of WestCoast Hospitality Corporation stated, "Jon Eliassen brings a deep background in corporate strategy, governance and finance in publicly traded companies and has demonstrated innovative and ethical business practices which have built him a strong reputation in the financial community. We are eager to integrate his leadership and experience into our Board as we continue to shape the strategic direction of the Company."
Mr. Eliassen spent 33 years at Avista Corporation, a diversified utility with a market capitalization of approximately $734 million, including 16 years as its Chief Financial Officer where he presided over all accounting, treasury, audit, and information services for the utility. In 2001 he led financing/refinancing of $1 billion to preserve credit ratings and financial stability of the company. While at Avista, Mr. Eliassen was an active participant in development of a number of successful subsidiary company operations including technology related startups Itron, Avista Labs, and Avista Advantage. In addition to his career at Avista Corp., he serves on the Board of Directors of Itron Corporation, and is the principal in Terrapin Capital Group, LLC.
Mr. Eliassen's corporate accomplishments are complemented by his extensive service to the community in roles including current interim President of the Spokane Area Economic Development Council, Board member and President of the Spokane Symphony Endowment Fund, Board Member of The Heart Institute of Spokane, Washington State University Research Foundation, Washington Technology Center, Spokane Intercollegiate Research and Technology Institute, and past Board Member of numerous other organizations and energy industry associations.
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