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Bill Magness, president and CEO of the Electric Reliability Council of Texas (ERCOT), was terminated from his contract by the organization’s board of directors after an emergency meeting Wednesday night.
In a statement sent to CNN, ERCOT said the board “ordered the corporate secretary to exercise the 60-day termination notice” to Magness in accordance with the employees’ agreement. He will continue to serve as president and chief executive officer during this transition period, the press release said.
Five board members had already resigned after the storms.
ERCOT expects to begin an immediate search for a new president and CEO, the statement said. The next ERCOT board meeting is currently scheduled for April 13.
At least 80 people have died in 11 states from weather problems, according to a CNN tally. At least 47 of the weather-related deaths have been reported in Texas.
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