Los Angeles city officials have no official word on who will fill the soon-to-be-vacant general manager spot at the Department of Water and Power. But KPCC's Molly Peterson reports that the city’s mayor has picked a new water and power commissioner.
The fifth and final member of the L.A. Board of Water and Power Commissioners will be Eric Holoman. He was president of the Los Angeles City Employees Retirement System until last October.
He resigned because of new state limits on what public pension officials may do in the private sector. Holoman is president of Magic Johnson Enterprises – manager of urban movie theaters, Starbucks outlets and T.G.I. Friday’s restaurants.
In a press release, Mayor Antonio Villaraigosa referred to Holoman's vast financial and corporate experience. Last August, while he was on the city's pension board, Holoman voted to approve a plan that would allow thousands of L.A. city employees to retire early.
As a member of the DWP board Holoman will once again serve on a public board with interests that sometimes clash with those of the city of Los Angeles. Water and power commissioners will cast important votes in coming months to decide the fate of a rate hike over which the utility and the L.A. City Council continue to fight.