10/31/2024 | Press release | Distributed by Public on 10/31/2024 06:37
October 31, 2024
COLUMBUS, Ohio, Oct. 31, 2024 - American Electric Power (Nasdaq: AEP) today announced leadership and organizational changes that will empower local operations, drive growth and create value for customers and stakeholders. The changes are effective today.
"This new leadership and organizational structure is part of our effort to streamline the company, shift decision making and accountability closer to customers, and align our support organizations to ensure our businesses have the appropriate resources to enhance value for all of our stakeholders," said Bill Fehrman, AEP president and chief executive officer. "These changes will allow us to be more responsive to the needs of our states and support growth in our local economies."
As part of these leadership and organizational changes, AEP announced:
Fehrman continued, "On behalf of the Board, I want to thank Chris and Peggy for their years of contributions and dedicated leadership. We wish them the best in the future. As we move forward, strong execution begins with aligning the right individuals to the right roles, and we are fortunate to have a strong team across our organization that is laser-focused on delivering for all of our stakeholders."
About AEP
At American Electric Power, based in Columbus, Ohio, we understand that our customers and communities depend on safe, reliable and affordable power. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable. We are on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and have a goal to achieve net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement 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.