Felts named president of MCPU | Business
The Board of Directors of Mt. Carmel Public Utility Co. (MCPU) has named Margaret Felts President of the Utility.
The utility company board also appointed Phil Barnhard and Terry Bruce as Co-Chairman and Co-CEO.
"Margaret will be an excellent president," Bruce said. "She will help the utility grow and also will help the economic development of the area."
"She is a good choice to lead the company and I am looking forward to continuing growth and stability in Mt. Carmel Public Utility," Barnhard said.
Felts has been with MCPU since 1996 and was the Secretary-Treasurer for the company prior to being elevated to president. She will vacate these two positions.
Prior to coming to MCPU, she was employed for 19 years by Security Bank and Trust/Old National Bank, achieving the position of Assistant Vice-President and then Old National Trust Co. as Trust Officer.
"I have great respect for the history of this company and the service it has provided to this community since its organization as a public utility in 1913. I am honored that Chairman Barnhard and the board has chosen me to lead this company," Felts said.
In addition to her work at MCPU, Felts is active in the community and currently serves as Secretary of the Area Industrial Development Committee (AIDC). Felts is also active in the development of a new economic development group called Mount Carmel Area Economic Alliance.
In other actions, the board continued Eric Bramlet as Chief Operating Officer and General Counsel, and appointed Debra Beal as Corporate Secretary, Margaret Dougherty as Corporate Treasurer, and selected Sharon Gehret to be Secretary to the Board.
The Board of Directors is comprised of Phil Barnhard, Eric Bramlet, Margaret Felts, Tom Gibbons and Terry Bruce.
The board actions took place during the board meeting held on Oct. 31.
Mt. Carmel Public Utility is a publicly owned company that provides electricity and natural gas to 8,962 customers in Mt. Carmel and surrounding communities.
It has annual revenues of $17 million, and employees 46 people.