Houston-based Dynegy Inc. announced that Nick J. Caruso has been named executive vice-president and chief financial officer. In his new position, Caruso will be responsible for Dynegy's financial affairs, including treasury, tax, investor relations, risk management, internal audit, and lender and credit rating agency relationships.
Prior to his appointment, Caruso worked for Shell Oil Co. for more than 30 years in positions of increasing responsibility until he retired last year.
Most recently, he served as vice-president, finance, and chief financial officer.
Before being named chief financial officer, Caruso served as Shell Oil's controller and general auditor.
Separately, Dynegy also appointed Robert Ray to the position of senior vice-president and treasurer. In this role, he will focus on all the company's financings and on its relationships with lenders and credit rating agencies.
Other moves
Gary A. Cappeline has been named vice-president, Ashland Inc., and president of Ashland Specialty Chemical, effective Dec. 4. Cappeline succeeded James A. Duquin, who retired after a 32-year career with the company.
Cappeline joined Covington, Ky.-based Ashland in 1974 and has held various positions until he was named group vice-president in the company's specialty chemicals business in 1993.
In 1997, Cappeline left Ashland to join Iselin, NJ-based Engelhard Corp., where he served as group vice-president, pigments and additives. He was later named president of AlliedSignal Specialty Chemicals. Most recently, he worked as a chemical industry partner at Bear Stearns Merchant Bank.
