"It is time for a new era at the Department of Water and Power, and that begins with accountable management and business and rate-payer-friendly reforms," said Villaraigosa. "With his vast financial and corporate experience, Eric Holoman will bring a unique perspective to the Board of Water and Power Commissioners and help lead their efforts to transform the DWP."
Villaraigosa appointed Holoman as president of the /*Los Angeles City Employees Retirement System*/ in July 2007.
Before joining Magic Johnson Enterprises, Holoman served as president of Holoman Food Services, Inc., and worked for Bank of America as a senior investment specialist.
City News Service contributed to this report.