Teco Energy Inc. unveiled a top level management shakeup on Thursday that serves as the prelude for the company combining its two largest business units, Tampa Electric and Peoples Gas.
The combination expected to unfold in the next few months will lead to the elimination of duplicate functions and likely job cuts that company officials declined to outline. Tampa Electric employs about 2,500 and People's Gas about 600 most of whom work in the Tampa Bay area.
The changes install Gordon Gillette, previously chief financial officer of the parent company, as president of both units. He replaces long time veterans of the company Bill Cantrell, who had been president of People's Gas, and Chuck Black, president of Tampa Electric. Both announced their retirements in the overhaul.
"Both Chuck and Bill leave a a legacy of extraordinary contributions to TECO Energy," said John Ramil, president and chief operating officer of the parent holding company.