American Electric Power (AEP) this week announced that Benjamin G.S. Fowke III, a member of the company’s Board of Directors and the former chairman and CEO of Xcel Energy, has been appointed interim chief executive officer and president, effective immediately. Fowke succeeds Julie A. Sloat. The AEP Board determined, based on discussions with Sloat, that it is time to identify a new CEO to lead the company’s next chapter. However, the company said this was not a result of any disagreement with Sloat regarding AEP’s operations, policies or financial performance and was not made for cause or related to any ethical or compliance concern.
The announcement comes two weeks after AEP entered into an agreement with Icahn Capital L.P., under which Hunter C. Gary, senior managing director at Icahn Enterprises L.P., and Henry P. Linginfelter will join AEP’s Board of Directors. The board will temporarily increase to 14 directors as a result of the two additions.
PPL Corporation announced that Greg Cornett has been named president of Rhode Island Energy (RIE). Effective March 4, Cornett will succeed Dave Bonenberger, who is moving into a new role as PPL Senior Vice President and Chief Operating Officer – Utilities. Cornett is a 25-year utility industry veteran and currently serves as Vice President and Deputy General Counsel for PPL. He formerly served as Associate General Counsel and Director of Legal Services for PPL subsidiaries Louisville Gas and Electric Company and Kentucky Utilities Company.
Calpine announced upcoming leadership changes, including its next CEO. The company’s board of directors selected Andrew Novotny, Calpine’s President and Chief Operating Officer, to succeed Thad Hill as the Company’s Chief Executive Officer (CEO). Hill, who has served as CEO for ten years, will assume the role of Executive Chairman of the board. Novotny joined Calpine in 2012 and has served as President since May 2023. He has been the company’s COO, a position he has held since January 2021. The changes will take effect October 1, 2024.
