CEO Rosenblum of Hawaiian Electric to retire

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News,Business

HONOLULU (AP) — Hawaiian Electric Company's CEO Richard Rosenblum says he will retire from the company within a year.

Rosenblum said Tuesday that he came out of retirement in 2008 to lead the company though its clean energy initiatives. He says the company's customers are getting more than 18 percent of their energy through renewable energy, compared with 8 percent in 2008.

Rosenblum says he shared his retirement plans to allow ample time for a smooth transition. He says he is committed to completing the development of plans for the next phase of clean energy transformation.

Rosenblum is 64 years old. He joined the company after a 32-year career at Southern California Edison.

Constance Lau, chairwoman of Hawaiian Electric's board of directors, says Rosenblum helped the company reduce its dependence on imported oil.

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