EnergyCo, a US-based joint venture between PNM Resources and a wholly-owned subsidiary of Cascade Investment, has named John Loyack as its new CEO.

Mr Loyack most recently served as president and CEO of CPG International. During his two years with CPG, the company’s sales grew 62%, and the company completed two acquisitions.

Jeff Sterba, chairman, president and CEO of PNM Resources, said: We are proud to have someone of John’s drive, financial acumen and leadership abilities at the helm of EnergyCo. It bodes extremely well for the future success of this new company.