From: paul.pfeffer@bakerbotts.com
To: gerald.nemec@enron.com
Date: 2001-08-15 18:07:20+00:00
Subject: RE: Organizational Announcement

Nice effect on the stock.  Get Skilling back.

-----Original Message-----
From: Nemec, Gerald [mailto:Gerald.Nemec@enron.com]
Sent: Tuesday, August 14, 2001 4:23 PM
To: paul.pfeffer@bakerbotts.com
Subject: FW: Organizational Announcement


Fyi

>  -----Original Message-----
> From: 	Enron Announcements/Corp/Enron@ENRON
> [mailto:IMCEANOTES-Enron+20Announcements_Corp_Enron+40ENRON@ENRON.com]
> On Behalf Of Ken Lay-@ENRON
> Sent:	Tuesday, August 14, 2001 3:59 PM
> To:	All Enron Worldwide@ENRON
> Subject:	Organizational Announcement
>
>
> It is with regret that I have to announce that Jeff Skilling is
> leaving Enron.  Today, the Board of Directors accepted his resignation
> as President and CEO of Enron.  Jeff is resigning for personal reasons
> and his decision is voluntary.  I regret his decision, but I accept
> and understand it.  I have worked closely with Jeff for more than 15
> years, including 11 here at Enron, and have had few, if any,
> professional relationships that I value more.  I am pleased to say
> that he has agreed to enter into a consulting arrangement with the
> company to advise me and the Board of Directors.
> Now it's time to look forward.
> With Jeff leaving, the Board has asked me to resume the
> responsibilities of President and CEO in addition to my role as
> Chairman of the Board.  I have agreed.  I want to assure you that I
> have never felt better about the prospects for the company.  All of
> you know that our stock price has suffered substantially over the last
> few months.  One of my top priorities will be to restore a significant
> amount of the stock value we have lost as soon as possible.  Our
> performance has never been stronger; our business model has never been
> more robust; our growth has never been more certain; and most
> importantly, we have never had a better nor deeper pool of talent
> throughout the company.  We have the finest organization in American
> business today.  Together, we will make Enron the world's leading
> company.
> On Thursday at 10:00 a.m. Houston time, we will hold an all employee
> meeting at the Hyatt.  We will broadcast the meeting to our employees
> around the world where technically available, and I look forward to
> seeing many of you there.


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