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Two Enron executives fired

Feb. 14, 2002 at 6:12 PM   |   Comments

HOUSTON, Feb. 14 (UPI) -- Enron said Thursday it has fired two executives criticized in a recently released internal report on the energy company's collapse.

Richard A. Causey, executive vice president and chief accounting officer, and Richard B. Buy, executive vice president and chief risk officer, were terminated immediately, the company said.

Stephen Cooper, Enron's acting chief executive officer and chief restructuring officer, said the company is committed to reorganizing.

"The board and I, together with the many hard-working employees of the company with whom I have met, are dedicated to restructuring this company and emerging from Chapter 11 as an operating business," he said. "The new Enron and its board are committed to ensuring that communication within the company is open and free-flowing, particularly as to any matters of professional concern regarding Enron's business affairs."

Causey and Buy were criticized in the report of an internal investigative team headed by University of Texas Law School Dean William Powers for failure to monitor deals between Enron and some financial partnerships.

The former Enron officials refused to answer questions in a congressional hearing last week.

Causey and Buy had said earlier they wanted to resign, but couldn't because they needed the board's approval to get out of their contracts.

© 2002 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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