Westar`s current headquarters in Topeka would be Holdco`s headquarters in Kansas and the candidates are committed to maintaining a workforce of at least 500 people there for at least five years after the completion of the merger. Thereafter, under the settlement agreement, Holdco would maintain a Kansas headquarters somewhere in Topeka for a period of at least 10 years after the merger was completed. After the closure, Ruelle became the non-executive chairman of the company`s new board of directors. Bassham will be President and Chief Executive Officer of the new entity and will also be a member of the Board of Directors. Management positions are shared by the managers of both companies. These include Tony Somma, Westar`s current Senior Vice President and Chief Financial Officer (CFO), who becomes Executive Vice President and Chief Financial Officer.