COLUMBUS, Ohio, Sept. 22,
2022 /PRNewswire/ -- American Electric Power (Nasdaq:
AEP) has made organizational and executive leadership changes to
support the company's strategic priorities and executive succession
plans, according to Nicholas K.
Akins, chair and chief executive officer.
Peggy Simmons, currently
president and chief operating officer (COO) for Public Service
Company of Oklahoma (PSO), has
been named executive vice president – Utilities. AEP's seven
utility company presidents and AEP's customer service support
organization will report directly to Simmons.
Leigh Anne Strahler, currently
vice president of Regulatory and Finance for AEP Texas, will
succeed Simmons as president and COO at PSO.
Chris Beam, currently president
and COO for Appalachian Power, has been named executive vice
president – Energy Services, with oversight of AEP's generation,
transmission, nuclear, supply chain, procurement, fleet, and safety
and health organizations.
Aaron Walker, currently vice
president of Distribution Region Operations for Appalachian Power,
has been named president and COO of Appalachian Power, succeeding
Beam.
Simmons and Beam will report to Julie
Sloat, AEP president and chief financial officer, in their
new roles effective today. Strahler and Walker will report to
Simmons.
"Peggy, Chris, Leigh Anne and
Aaron have all demonstrated success in key leadership roles in our
regulated operating companies, helping enhance customer
satisfaction, spearheading growth and providing increasingly more
reliable, resilient and clean energy for the communities we serve.
I'm confident that their operational expertise, deep industry
knowledge and collaborative leadership styles will continue to
support the execution of our long-term strategy – investing in
cleaner energy infrastructure and innovative technological
solutions to benefit our customers," Sloat said.
AEP's executive vice president and COO position is being
eliminated. Lisa Barton will remain
at AEP with transitional responsibilities, reporting to Akins,
until Nov. 1.
"On behalf of the Board and myself, I want to thank Lisa for her
important contributions and leadership during her time at AEP. She
brought a high level of energy and engagement to help transform
strategic areas of our company, including our transmission business
and renewable energy investments, and demonstrated a deep
commitment to improving our culture and to serving our customers.
Lisa's efforts enhanced our ability to provide safe, reliable and
clean energy to power communities and build value for shareholders.
We wish her all the best in her future endeavors," Akins said.
Greg Hall, currently executive
vice president – Energy Supply, has been named to an expanded role
as executive vice president and chief commercial officer, with
responsibility for AEP's competitive retail business, competitive
wholesale business, distributed energy assets organization,
regulated commercial operations and grid solutions organizations.
Hall will continue to report to Akins until Sloat becomes CEO
Jan. 1, 2023.
"Greg and his team have been delivering custom energy solutions
in the competitive space, including renewable and distributed
generation, while our grid solutions team has been focused on
developing critical infrastructure innovations and clean energy
projects to benefit customers served by our regulated operating
companies. Aligning these organizations under Greg will help us
better leverage the experience and expertise across the company to
advance new customer solutions and expand our energy offerings in
all the states where we operate," Sloat said.
Simmons, 45, has been president and COO of PSO since 2018, with
responsibility for all aspects of electric service for more than
560,000 customers in Oklahoma. She
previously was managing director of Transmission Asset Strategy for
AEP and has held leadership roles in AEP's Transmission
organization, at AEP Ohio and as part of AEP's competitive
renewable energy business. Simmons joined AEP in 1999. She received
a bachelor's degree in economics from The Ohio
State University and a master's degree in public policy and
administration from Central Michigan
University. She serves as a board member for the Tulsa Area
United Way, the Tulsa Regional Chamber of Commerce and the
State Chamber of Oklahoma, Tulsa County. She is on the board of trustees
for the Tulsa Community Foundation and the board of directors
of BOK Financial Corporation. Simmons also serves on the Southwest
Power Pool (SPP) Members Committee and the Federal Reserve Bank of
Kansas City Economic Advisory Council.
Beam, 53, has been president and COO of Appalachian Power since
2017, responsible for all aspects of electric service for
approximately 1 million customers in West
Virginia, Virginia and
Tennessee. He previously was vice
president of Projects, Controls & Construction in AEP's
generation organization. Beam joined the company in 1990 at Kammer
Plant and held progressive leadership roles in the company's
generation organization. Beam received a bachelor's degree in
Technical Management from DeVry
University. He is on the board of directors of The Education
Alliance, the Clay Center for the
Arts & Sciences, the West
Virginia Chamber of Commerce and the Virginia Business
Council. He also serves on the West Virginia
State University's Board of Visitors.
Hall, 50, has been executive vice president of Energy Supply
since 2021, with oversight of AEP's competitive retail energy
businesses. Previously, he was president of AEP Energy Partners,
responsible for building AEP's competitive wholesale, retail,
onsite solutions and universal-scale renewables businesses. He
joined AEP in 1997 and has held progressive leadership roles in
AEP's energy marketing organization. Hall received a bachelor's
degree in geography from Brigham Young
University and a master's degree in geography from The
Ohio State University. He serves on the
boards of the American Clean Power Association and Flying Horse
Farms.
Strahler, 49, has been vice president of Regulatory and Finance
for AEP Texas since 2018, responsible for the regulatory and
financial activities of AEP Texas. She previously was director of
Business Operations Support for Appalachian Power. Strahler joined
AEP in 2006. She has held leadership positions in AEP's Generation
Business Planning & Support Services group and AEP's Operations
and Performance Transformation group with responsibility for
implementing process improvements across the company. Before
joining AEP, she worked at Limited Brands and IBM Global Services.
Strahler received a bachelor's degree in economics from
Bethany College and a master's in
business administration from The Ohio State
University. She is chair of the board for the Purple Door, a
domestic violence shelter headquartered in Corpus Christi, Texas.
Walker, 39, has been vice president of Distribution Operations
for Appalachian Power since 2020, with responsibility for
construction, engineering, maintenance and operations of
Appalachian Power's electric distribution systems. He previously
was plant manager of AEP's Rockport Plant. Walker joined AEP in
2005 and has served in a variety of roles including project and
field engineering, project management, generation performance
improvement and as a generation energy production superintendent.
Walker received a bachelor's degree in chemical engineering from
The Ohio State University.
American Electric Power, based in Columbus, Ohio, is powering a cleaner,
brighter energy future for its customers and communities. AEP's
approximately 16,700 employees operate and maintain the nation's
largest electricity transmission system and more than 224,000 miles
of distribution lines to safely deliver reliable and affordable
power to 5.5 million regulated customers in 11 states. AEP also is
one of the nation's largest electricity producers with
approximately 31,000 megawatts of diverse generating capacity,
including more than 7,100 megawatts of renewable energy. The
company's plans include growing its renewable generation portfolio
to approximately 50% of total capacity by 2030. AEP is on track to
reach an 80% reduction in carbon dioxide emissions from 2000 levels
by 2030 and has committed to achieving net zero by 2050. AEP is
recognized consistently for its focus on sustainability, community
engagement, and diversity, equity and inclusion. AEP's family of
companies includes utilities AEP Ohio, AEP Texas, Appalachian Power
(in Virginia and West Virginia), AEP Appalachian Power (in
Tennessee), Indiana Michigan
Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana, east Texas and the Texas
Panhandle). AEP also owns AEP Energy, which provides
innovative competitive energy solutions nationwide. For more
information, visit aep.com.
This report made by American Electric Power and its Registrant
Subsidiaries contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934. Although AEP
and each of its Registrant Subsidiaries believe that their
expectations are based on reasonable assumptions, any such
statements may be influenced by factors that could cause actual
outcomes and results to be materially different from those
projected. Among the factors that could cause actual results to
differ materially from those in the forward-looking statements are:
changes in economic conditions, electric market demand and
demographic patterns in AEP service territories; the impact of
pandemics, including COVID-19, and any associated disruption of
AEP's business operations due to impacts on economic or market
conditions, costs of compliance with potential government
regulations and employees' reactions to those regulations,
electricity usage, supply chain issues, customers, service
providers, vendors and suppliers; the economic impact of escalating
global trade tensions including the conflict between Russia and Ukraine, and the adoption or expansion of
economic sanctions or trade restrictions; inflationary or
deflationary interest rate trends; volatility in the financial
markets, particularly developments affecting the availability or
cost of capital to finance new capital projects and refinance
existing debt; the availability and cost of funds to finance
working capital and capital needs, particularly if expected sources
of capital, such as proceeds from the sale of assets or
subsidiaries, do not materialize, and during periods when the time
lag between incurring costs and recovery is long and the costs are
material; decreased demand for electricity; weather conditions,
including storms and drought conditions, and AEP's ability to
recover significant storm restoration costs; the cost of fuel and
its transportation, the creditworthiness and performance of fuel
suppliers and transporters and the cost of storing and disposing of
used fuel, including coal ash and spent nuclear fuel; the
availability of fuel and necessary generation capacity and the
performance of generation plants; AEP's ability to recover fuel and
other energy costs through regulated or competitive electric rates;
the ability to transition from fossil generation and the ability to
build or acquire renewable generation, transmission lines and
facilities (including the ability to obtain any necessary
regulatory approvals and permits) when needed at acceptable prices
and terms, including favorable tax treatment, and to recover those
costs; new legislation, litigation and government regulation,
including changes to tax laws and regulations, oversight of nuclear
generation, energy commodity trading and new or heightened
requirements for reduced emissions of sulfur, nitrogen, mercury,
carbon, soot or particulate matter and other substances that could
impact the continued operation, cost recovery, and/or profitability
of AEP's generation plants and related assets; the risks associated
with fuels used before, during and after the generation of
electricity, including coal ash and nuclear fuel; timing and
resolution of pending and future rate cases, negotiations and other
regulatory decisions, including rate or other recovery of new
investments in generation, distribution and transmission service
and environmental compliance; resolution of litigation; AEP's
ability to constrain operation and maintenance costs; prices and
demand for power generated and sold at wholesale; changes in
technology, particularly with respect to energy storage and new,
developing, alternative or distributed sources of generation; AEP's
ability to recover through rates any remaining unrecovered
investment in generation units that may be retired before the end
of their previously projected useful lives; volatility and changes
in markets for coal and other energy-related commodities,
particularly changes in the price of natural gas; changes in
utility regulation and the allocation of costs within regional
transmission organizations, including ERCOT, PJM and SPP; changes
in the creditworthiness of the counterparties with contractual
arrangements, including participants in the energy trading market;
actions of rating agencies, including changes in the ratings of
debt; the impact of volatility in the capital markets on the value
of the investments held by AEP's pension, other postretirement
benefit plans, captive insurance entity and nuclear decommissioning
trust and the impact of such volatility on future funding
requirements; accounting standards periodically issued by
accounting standard-setting bodies; other risks and unforeseen
events, including wars and military conflicts, the effects of
terrorism (including increased security costs), embargoes,
naturally occurring and human-caused fires, cyber security threats
and other catastrophic events; and the ability to attract and
retain the requisite work force and key personnel.
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SOURCE American Electric Power