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Fortnightly Magazine - July 1 1998

Off Peak

STARTING A NEW JOB CAN RESULT IN A FEW SURPRISES,but some new executives at electric utilities may be getting more than their share.

According to the Global Energy Utilities Practice, a Spencer Stuart study, electric utilities have been hiring droves of executives from outside industries (see Figure 1) to fill vice-presidential positions and above - only to lose their new recruits, often within a year.

By turning to other industries for new hires, utilities seek a shortcut on the road to competition, according to the study.