organization announcement enron purchases billions dollars products wholly owned subsidiaries venture companies worldwide historically company conducted purchases highly fragmented decentralized manner allowing operating units discretion source requirements manner optimizes unit performance today however implementation sap profound explosion internet intranet based technologies believe company change direction focus aggregating demand goods strategically sourcing requirements global basis believe significant cash savings extracted company also commercial potential formation highly profitable business business e commerce venture effective february 1 2000 enron form new global strategic sourcing unit new unit consolidate current successful strategic sourcing initiatives underway gas pipeline group global asset operations enron corp initially global strategic sourcing focus aggregating enron internal joint venture business partner demand products services objective creating future business business e commerce venture gives us great pleasure announce george wasaff managing director lead new global initiative george report directly mike mcconnell chief executive officer global technology george enron fourteen years held many senior executive positions recent managing director enron south america wholesale operations george also interim chief executive officer elektro july 1998 june 1999 chief executive officer transportadora de gas del sur tgs june 1995 february 1998 george also held numerous commercial positions including vice president country manager mexico enron international vice president marketing transwestern pipeline company please join us supporting new global initiative congratulating george new role company