organizational changes given evolution number businesses decided make organizational change change response number factors first part new initiative enron net works becoming clear opportunity quickly expand enron underlying business model commodity markets expansion requires coordinated focus strategy select develop opportunities second success enrononline continued expansion wholesale activities north america europe increased coordination requirements across north american european operations result two factors making following organizational changes effective immediately cliff baxter move enron north america enron corp executive vice president chief strategy officer mark frevert become chairman ceo north america replacing cliff addition mark remain chairman enron europe john sherriff become president ceo enron europe confident changes increase effectiveness organization please join us congratulating cliff mark john new responsibilities