October 29, 2018
AEP Announces Organizational, Executive Leadership Changes
COLUMBUS, Ohio, Oct. 29, 2018 – American Electric Power (NYSE: AEP) today announced organizational and executive leadership changes to support the company’s strategic goals and future success. The changes will be effective Jan. 1, 2019.
“These changes will leverage and expand the operational expertise, experience, leadership and industry knowledge of the AEP team as we focus on enhanced service for customers, building smarter energy infrastructure and delivering new technologies and custom energy solutions,” said Nicholas K. Akins, AEP chairman, president and chief executive officer.
Julie A. Sloat, 49, currently president and chief operating officer, AEP Ohio, has been named senior vice president – Treasury & Risk, a newly created position overseeing the company’s Treasury, Corporate Finance and Risk functions. Sloat will replace Lonni L. Dieck, senior vice president and treasurer, who is retiring from the company. Lisa R. Groff, 49, formerly managing director – Risk and Insurance Management, has been promoted to vice president and chief risk officer, reporting to Sloat. In addition to overseeing Corporate Risk, Groff will have responsibility for corporate Emergency Response and Business Continuity.
“Lonni has been an incredibly valuable member of the AEP team for 27 years. We will greatly miss her and her contributions, but we wish Lonni and her family all the best in retirement,” Akins said.
Stephan T. Haynes, 57, senior vice president – Strategic Initiatives and chief risk officer, has been named senior vice president – Strategy & Innovation, with added responsibility for Innovation & Technology, and Operations & Performance Transformation. Both Sloat and Haynes will report to Brian X. Tierney, executive vice president and chief financial officer.
Raja Sundararajan, 43, will replace Sloat as president and chief operating officer for AEP Ohio, with responsibility for all aspects of electric service for AEP Ohio’s 1.5 million customers. Sundararajan is currently vice president – Regulatory Services for AEP. Matthew J. Satterwhite, 45, currently president and chief operating officer, Kentucky Power, has been named vice president – Regulatory Services to replace Sundararajan. Satterwhite will have responsibility for AEP’s regulatory activities before 11 state regulatory commissions and the Federal Energy Regulatory Commission (FERC). He will report to Charles R. Patton, executive vice president – External Affairs. Brett Mattison, 54, will become president and chief operating officer for Kentucky Power, with responsibility for all aspects of electric service for Kentucky Power’s 169,000 customers. Mattison is currently director – Customer Services & Marketing for Southwestern Electric Power Co. Sundararajan and Mattison will report to Paul Chodak III, executive vice president – AEP Utilities.
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s more than 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 219,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.4 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 32,000 megawatts of diverse generating capacity, including 4,300 megawatts of renewable energy. 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 and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.
Director, External Communications
Bette Jo Rozsa
Managing Director, Investor Relations
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AEP Completes Purchase of Wind Assets from Sempra Acquisition, Advances Part of Planned $2.2 Billion Investment in Contracted Renewables by 2023
American Electric Power (NYSE: AEP) today announced that its competitive renewable energy subsidiary, AEP Clean Energy Resources, has completed the purchase of Sempra Renewables LLC and its 724 megawatts (MW) of operating wind generation and battery assets for approximately $1.05 billion. AEP will pay Sempra $584 million in cash, which includes $33 million in working capital, and assume $470 million in existing project debt and tax equity obligations, subject to adjustments.