Mr Derr tendered his resignation in order to focus his time and energies on other business and personal matters. With his resignation, the company’s board of directors will have eight members.
Mr Derr was chairman of the board of Calpine from November 2005 until January 2008 and has been a director since May 2001. In addition, he served as acting CEO, prior to the tenure of current CEO, Robert May.
He retired as the chairman and CEO of integrated oil major Chevron in 1999, a position that he held since 1989, after a 39-year career with the company.
William Patterson, Calpine’s chairman, said: We thank Ken for his steadfast service and for his many contributions to the board and to the company, especially during our very successful reorganization.
