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Mr. Malquist has served as a Director of Headwaters since January 2003. Mr. Malquist is Senior Vice President and Chief Financial Officer of Avista Corp., an energy utility in the Pacific Northwest. Mr. Malquist has held this position since September 2002. He has 24 years of experience in the utility industry, many of which were in financial leadership positions. Mr. Malquist worked for the Truckee Meadows Water Authority from February 2001 until September 2002, serving as its General Manager. He was CEO of Data Engines, a high tech start-up company from May 2000 through October 2000. From 1994 through April 2000, Mr. Malquist was employed by Sierra Pacific Resources, initially as its Chief Financial Officer, and later as President, CEO and board member. He also worked for San Diego Gas and Electric from 1978 through 1994 in a variety of financial positions, including Vice President - Finance and Treasurer. Mr. Malquist received BA and MBA degrees from Brigham Young University. | 