Power conglomerate Sierra Pacific Resources’ board of directors named former Harrah’s Entertainment CEO Phil Satre as nonexecutive chairman. He will succeed Walt Higgins, who stepped down as CEO August 1.
Satre will take over as nonexecutive chairman for a one-year term after Higgins’ yearlong tenure ends August 1.
Satre said one of his priorities for the board over the coming year is to continue efforts to develop renewable energy sources, including wind, geothermal and solar power. He said he will continue his current role as a liaison between the board and the power company’s executives.
Sierra Pacific’s two subsidiaries, Nevada Power Co. and Sierra Pacific Power Co., returned to investment-grade bond ratings and stock dividends over the past few years.
Satre served as CEO of Harrah’s Entertainment for 10 years. He currently serves on the boards of Nordstrom, Rite Aid Corp., the National Center for Responsible Gaming and the Nevada Cancer Institute. He is vice chairman of the National World War II Museum and a trustee of Stanford University.