Higgins to Retire from Sierra Pacific Resources

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Walter Higgins, who has overseen Sierra Pacific Resources for more than a decade, is retiring as chief executive officer, effective July 31st.

The 62-year-old Higgins will remain board chairman for the holding firm of Nevada's two main utilities, Sierra Pacific Power and Nevada Power Companies.

On Thursday, board members also elected current President Michael Yackira to take over as CEO effective August 1st.

(Copyright 2007 by The Associated Press. All Rights Reserved.)