CRANBERRY TWP — Westinghouse Electric has announced Aris Candris, president and chief executive officer, will retire as of March 31, but will remain a senior adviser to the company.

He has been with Westinghouse for 37 years, serving as president since July 2008.

Additionally, the board announced the forming of the Westinghouse Executive Office with the appointment of Jim Ferland as co-president and chief executive officer and Ricardo Pérez as co-president and chief operating officer.

Ferland currently is president of the Americas Region for Westinghouse, and Pérez is president of operations.

Oil hits near $103 on Iran tensionsOil prices rose to nearly $103 a barrel today amid concerns about tensions between the West and Iran and growing investor optimism that the U.S. economy is improving, which would boost crude demand.By midday in Europe, benchmark crude for February delivery was up $1.54 to $102.85 a barrel in electronic trading on the New York Mercantile Exchange.Tension between Iran and Western powers over Iran’s nuclear program also has helped keep crude above $100. The U.S. has recently enacted new sanctions targeting Iran’s central bank and its ability to sell petroleum abroad, and Europe is planning to restrict oil imports from Iran.