CEO shines light on plans for merged entity of KCPL, Westar
The company acquiring Topeka-based Westar Energy plans for the merged entity to continue maintaining an office in the capital city for the long term, its CEO said Friday.
“Never say never, but I don’t have a reason we wouldn’t always have an office” in Topeka, said Terry Bassham, CEO of Kansas City Power and Light.
Bassham and Westar CEO Mark Ruelle spoke at the Kansas Expocentre’s Maner Conference Center late Friday afternoon in the last of about 15 statewide stops of their “Westar-KCPL Better Together” tour being held to update business and community leaders on the proposed merger.
Friday’s gathering came three days before a planned public hearing by the Kansas Corporation Commission, which must approve the sale for it to take place. Residents will be able to learn more about the proposed acquisition and make comments at the hearing, which will be at 6 p.m. Monday at Shawnee Heights High School, 4201 S.E. Shawnee Heights Road.
Westar, KCPL and its parent company, Great Plains Energy, filed a joint application last July with the KCC seeking approval for GPE to acquire Westar for $12.2 billion. The merger would bring GPE a place on the Fortune 500 list of the nation’s largest companies, Bassham said Friday.
The KCC in September and October filed multiple orders warning that GPE and Westar had failed to meet merger standards in filings made with the KCC, which could halt the sale if it didn’t get more specific details on cost savings and other information.
Chuck Caisley, spokesman for GPE, said Friday the companies responded by providing more specific information, which apparently met those standards.
Bassham told Friday’s audience he hopes the sale will be finalized by the second quarter of next year.
Employees will be asked to help come up with a new name for the merged entity, which will probably take about a year, Bassham added.
“We want something that makes sense to everybody,” he said.
Bassham told Friday’s audience the merged company plans to continue to work after the transaction to become more efficient, and suggested it would eliminate some employees through attrition.
Caisley said its administrators intend to make the entire company “more slender,” including gradually lowering its employee total throughout the organization. KCPL currently has about 3,000 employees and Westar about 2,400, he said.
The merged company’s commitment to Topeka will be illustrated through an announcement regarding its executive leadership that will be made next week, Caisley added.
He said the company doesn’t expect to ask any employees working in Topeka to move to Kansas City, or any employees living in Kansas City to move to Topeka.
Those unable to attend Monday’s KCC public hearing can watch it live and submit written comments for the record from the commission’s website, www.kcc.ks.gov. The live stream and recording will be close-captioned.
The KCC will also accept written comments on the record through 5 p.m. Jan. 18 from those who call its public affairs office at (785) 271-3140 or (800) 662-0027; or send a letter to the Kansas Corporation Commission, Office of Public Affairs and Consumer Protection, 1500 S.W. Arrowhead Road, Topeka 66604-4027. Those providing comments are asked to make reference to Docket #16-KCPE-593-ACQ.
Contact reporter Tim Hrenchir at (785) 295-1184 or @timhrenchir on Twitter.
