PNM Resources Board Introduces Two New Directors

ALBUQUERQUE, N.M., Jan. 2, 2019 /PRNewswire/ -- The Board of Directors of PNM Resources (NYSE: PNM) announces the addition of two new directors, Vicky A. Bailey and James A. Hughes. The terms for both directors began Jan. 1, 2019.

Ms. Bailey has extensive knowledge of the electric utility industry and nuclear energy operations, including significant state and federal regulatory and public policy experience. She served as a commissioner of the Indiana Utility Regulatory Commission and the Federal Energy Regulatory Commission (FERC), a trustee of the North American Electric Reliability Corporation (NERC), and as president and as a director of PSI Energy, Inc., Indiana's largest electric utility, now Duke Indiana. Ms. Bailey was appointed as Assistant Secretary at the United States Department of Energy for both International Affairs and Domestic Policy, and she was appointed to the Blue Ribbon Commission on America's Nuclear Future that conducted a review of nuclear policies and activities. 

Ms. Bailey currently serves as president of Anderson Stratton International, LLC, a strategic consulting and governmental relations firm. She also serves as a director of two publicly traded companies: Cheniere Energy, Inc. and Equitrans Midstream Corporation. She previously served as a director of publicly traded EQT Corporation and of Cleco Corporation while it was publicly traded, prior to its acquisition by private entities. Ms. Bailey also currently serves on the boards of numerous non-profit entities, including: Battelle Memorial Institute, a non-profit applied science and technology organization that manages several of the National labs across the country for the Department of Energy, Resources for the Future, United States Energy Association, World Energy Council and American Association of Blacks in Energy.

Mr. Hughes' corporate executive experience in the renewable energy and energy storage sectors is highly relevant in the transition to cleaner, more sustainable energy at PNM, the New Mexico regulated utility subsidiary of PNM Resources. He is currently the CEO and managing director of Prisma Energy LLC, a private entity focused on investments in energy storage, and is the former CEO and director of publicly traded First Solar, Inc.

Mr. Hughes currently serves as a corporate director of: Alcoa Corporation, a publicly traded producer of bauxite, alumina and aluminum products; Eos Energy Storage, a private company developing novel, low-cost energy solutions for the electric utility and transportation industries; and TPI Composites Inc., a publicly traded manufacturer of composite wind blades for wind turbines and composite products for the transportation market. Mr. Hughes is the former chairman and serves as a director of the Los Angeles Branch of the Federal Reserve Bank of San Francisco.

More information on the PNM Resources Board of Directors can be found at: http://www.pnmresources.com/corporate-governance/board-of-directors.aspx.  

Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2017 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,580 megawatts of generation capacity and provides electricity to more than 773,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements made in this news release that relate to future events or PNM Resources, Inc.'s ("PNMR"), Public Service Company of New Mexico's ("PNM"), or Texas-New Mexico Power Company's ("TNMP") (collectively, the "Company") expectations, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. PNMR, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements. PNMR's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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SOURCE PNM Resources, Inc.