ITC Announces Executive Transition

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Novi, Mich.-based ITC Holdings Corp. has appointed Chief Financial Officer (CFO) Edward M. Rahill to president of ITC Grid Development LLC, and has named Cameron M. Bready to succeed Rahill as senior vice president and CFO of ITC Holdings Corp. Bready will also serve as treasurer, a position formerly held by the company's chairman, president and CEO, Joseph L. Welch.

In this newly created position, Rahill will manage ITC Grid Development and its subsidiaries and will be responsible for identifying, developing and implementing new business opportunities, including new projects and partnerships.

Rahill had been managing the business activities of ITC Grid Development while simultaneously acting as ITC Holdings' CFO. Growing business opportunities for ITC Holdings – including ITC Great Plains LLC, ITC Panhandle LLC, the Upper Midwest and other regions of the country – have prompted the company to make the management shift.

Rahill joined ITC as CFO in 2003 and oversaw the company's transition from a privately held venture to a New York Stock Exchange-listed public corporation in 2005. Rahill will continue as senior vice president of ITC Holdings Corp.

As senior vice president, treasurer and CFO, Bready brings 15 years of financial and accounting experience to the company. Bready will be responsible for the company's accounting, finance, treasury and other related financial functions.

SOURCE: ITC Holdings Corp.

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