The Long Island Power Authority is searching for a new chief financial officer following Elizabeth McCarthy’s resignation last week.

“It was time for me to make a change,” McCarthy said. “I’m going to explore my opportunities. It’s an exciting time in the industry.”

McCarthy, who came to LIPA in 2003, said that she had not decided whether she would stay in the power industry or public finance.

LIPA spokesman Ed Dumas said that McCarthy was not terminated and she will stay on through March.

McCarthy came to the authority in 2003 from DPL Inc., a regional utility company based in Dayton, Ohio, where she was group vice president and chief financial officer. She had also been a partner at PricewaterhouseCoopers.

LIPA president and chief executive officer Kevin Law asked McCarthy to stay on as part of his team when he assumed his role in October 2007, she said.

The authority has sold $5.44 billion of bonds since 2003, according to Thomson Reuters.



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