Watson's Departure Signals Refocus at Dynegy as ChevronTexaco Exec Takes Helm

Dynegy Inc.'s new management team said restoring investor confidence and focusing on business remain key following the resignation last week of founder Chuck Watson, CEO and chairman. No strategic shifts are expected, but the executive team is now led by ChevronTexaco Vice Chairman Glenn F. Tilton. Steve Bergstrom, Watson's right-hand man, remains COO and president -- already seen by many as a good sign that the board of directors was loyal to Dynegy's direction, but not its 17-year leader.

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