Louis Hutchinson was aware of the challenges ahead when he took on the task to revamp the business strategy of WGL Holdings Inc. Despite that, Hutchinson helped position the local gas utility to generate record earnings of $131.3 million during his first year as chief revenue officer.
For D.C.-based WGL, which runs Washington Gas, Hutchinson realigned its business strategy to meet market demands and increased earnings per share by nearly 20 percent for several years. He drew upon his past experiences, including as senior vice president of the public sector and energy efficiency at Baltimore’s Constellation Energy Group, where his efforts helped helped boost annual revenue from $1.2 million to $6 billion in five years. He was also president and CEO of Crunchy Technologies and held executive positions at Netscape Communications and Powersoft Corp.
Ultimately, his success led to WGL’s nearly $9 billion sale in July to Canadian behemoth AltaGas Ltd. After he helped usher that deal to…Read the full story from the Washington Business Journal.