CONTACT: GEORGE McCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
UI College of Business Administration honors MidAmerican Energy CEO
IOWA CITY, Iowa -- The University of Iowa College of Business Administration
has named Stanley J. Bright, president, chairman and chief executive officer
of MidAmerican Energy Company in Des Moines, as the recipient of the 1998
Oscar C. Schmidt Iowa Business Leadership Award.
The College of Business Administration will honor Bright at a dinner
and program beginning at 6:30 p.m. Thursday, Feb. 11 at the Main Lounge
of the Iowa Memorial Union.
The Iowa Business Leadership Award was established by the late C. Oscar
Schmidt, president of the Cincinnati Butchers' Supply Company, who wanted
to honor his father by recognizing an outstanding Iowa business executive.
The award recognizes outstanding performance in the world of commerce in
the belief that business leadership is essential to the economic progress
of Iowa and the nation.
"Although Stan Bright's professional life has been spent in an
industry that has historically been highly regulated, he has developed
an entrepreneurial spirit. He is accessible and innovative and has made
many valuable contributions to his industry, his community and state,"
said Gary Fethke, dean of the UI College of Business Administration.
Bright came to Iowa in 1986 as vice president of finance and chief financial
officer of the Iowa-Illinois Gas and Electric, a predecessor of MidAmerican.
He became a director of Iowa-Illinois in 1987, president and chief operating
officer in 1990, chairman and chief executive officer in 1991. In July
1995 Iowa-Illinois merged with Midwest Resources, Inc. to form MidAmerican.
MidAmerican is currently in the process of being acquired by the Omaha-based
CalEnergy Co. to form what will become Iowa's largest publicly traded company.
Following the merger Bright will become vice chairman of the board of the
Previously Bright was a financial officer of Potomac Electric Power
Company (PEPCO) Washington, D.C. He also was president and a director of
Potomac Capital Investment Corporation, a wholly owned subsidiary of PEPCO.
Prior to joining PEPCO, Bright was associated with Price Waterhouse. He
is a graduate of George Washington University and is a certified public
accountant. He is a member of the UI College of Business Administration's
Board of Visitors, and serves on many corporate boards and councils. In
November 1998 he was named chairman of an economic development group, the
"Choose Des Moines Communities" initiative.