The IPE, Europe's Leading Energy Futures And Options Exchange, Has Appointed Stephen Gutteridge As Its New Executive Vice President Of Business Development.

The IPE, Europe's leading energy futures and options exchange, has appointed Stephen Gutteridge as its new Executive Vice President of Business Development. Mr Gutteridge has an impressive track record in the energy industry, beginning his career in Shell UK in 1976. At Shell he worked in Planning and Marketing, before moving to Oil Trading in 1984. After two years on the crude desk, he became Head of Risk Management, developing Shell's use of futures, options and other risk management tools. In 1987 he moved to Mitsui in a trading role, and then joined Amerada Hess, firstly, to set up and manage their UK oil trading operations, and then two years later moving to head up their UK Gas Business unit. In 1992, Mr Gutteridge was appointed a main board Director at Seeboard plc, becoming Managing Director for energy supply with responsibility for electricity purchasing, trading and sales, gas and generation. He left Seeboard in 1997 to become Group Chief Executive of Ferguson International, a printing and packaging company, where he remained until March 1999. More recently he has been working with a number of companies in a consultancy capacity. Mr Gutteridge, 45, will take up his new appointment at the IPE on 1 March. He will be responsible for the marketing and growth of the IPE's existing contracts as well as launching new contracts and markets. Mr Gutteridge's long experience in electricity and gas as well as oil will be invaluable to the IPE in the development of both existing and new products. He replaces Richard Ward who became chief executive of the IPE in September 1999. Richard Ward said " we are delighted to welcome Stephen Gutteridge as our new head of Business Development. He has the combination of management skills and industry knowledge that will help the IPE grow its business. The IPE has an extremely solid foundation in the oil markets to build on, with volumes up 75% in the last two years. There are also many new opportunities opening up to us, including electricity and gas. Stephen's experience will help the IPE to position itself as the market of choice for these sectors".