On February 5, 2015, Michael K. Parks, Chairman of the Board of Directors of El Paso Electric Co. announced that he had accepted a new position that requires him to resign from the Board, effective immediately. Mr. Parks has been a Director since 1996, has served as Chairman since July 2012 and prior to that served as Vice Chairman from November 2005.

Following Mr. Parks's resignation, the Board elect independent directors Charles A. Yamarone as Chairman and Edward Escudero as Vice Chairman.