Westinghouse President and CEO Steve Tritch to Retire July 1

PITTSBURGH, March 3 /PRNewswire/ -- Westinghouse Electric Company announced today its President and CEO Steve Tritch has elected to retire, effective July 1, 2008. He will continue in his role as Chairman of the Westinghouse Board of Directors.

The company also announced that Mr. Tritch would be succeeded by Aris Candris, a 33-year Westinghouse veteran who is currently sr. vice president of the Westinghouse Nuclear Fuel Business Unit.

Mr. Tritch, who joined Westinghouse in 1971 and became President and CEO in 2002, presided over the company during a period of dramatic change and growth. During his tenure, Westinghouse saw continual growth within all of its business units: Nuclear Fuel, Nuclear Services, and Nuclear Power Plants.

In July, 2007, Westinghouse signed multi-billion dollar contracts to provide four new AP1000(TM) nuclear power plants to China, marking the first time ever that a U.S. company was awarded new nuclear plant contracts in that country. Additionally, the AP1000 over the last two years has been identified as the technology of choice for no less than 12 of the new nuclear power plants announced for the United States.

In announcing his retirement plans, Mr. Tritch told employees:

"My 37 years with this company have been extremely interesting and fulfilling and I am pleased that Westinghouse is well positioned for a bright and successful future. We are moving ahead in our efforts to dramatically transform Westinghouse to create significant value for our owners over the next 10 years. As the company prepares to enter this new era, I believe it is an opportune time for me to pursue a new phase in my life as well."

Mr. Tritch also said that Dr. Candris is ideally suited to lead Westinghouse:

"Aris is the right leader for Westinghouse at this time of tremendous growth and change. He has led both our Nuclear Services and, most recently, Nuclear Fuel businesses. As our first senior vice president of operational excellence in 2003, he spearheaded the Customer 1st initiative that has dramatically changed the way we work and behave with our customers.

"I am confident that he will carry forward the positive momentum we have built in improving our customer relationships and reshaping Westinghouse into a more dynamic industry leader. I will be working with Aris over the next few months as he transitions to his new role."

Also today, Westinghouse announced that Joe Belechak would succeed Dr. Candris as sr. vice president of the Westinghouse Nuclear Fuel Business Unit, and that Rick Etling would replace Mr. Belechak as vice president, strategy. Mr. Etling is currently vice president, business planning and strategy within the Westinghouse Nuclear Fuel Business Unit.

Westinghouse Electric Company, a Toshiba Group company, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants.

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