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Cleco CFO resigns to join charitable foundation
updated 4:56 p.m. ET May 9, 2008
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PINEVILLE, La. - Cleco Corp. said Friday that Kathleen Nolen, its senior vice president and chief financial officer, is leaving the electric utility effective May 31.

Nolen will join the staff of the Rapides Foundation, a charitable foundation focused on improving the health status of central Louisiana.

Russell Davis, the company's vice president and chief accounting officer, will serve as interim chief financial officer. He joined Cleco in 2000.

Cleco shares fell 18 cents to $24.33 in aftermarket trading, after rising 34 cents to $24.51 in the regular session. The stock is off 13 percent since the start of the year.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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