AEP NAMES FOWKE, VON THAER TO BOARD OF DIRECTORS
American Electric Power (AEP) has elected Ben Fowke and Lewis "Lou" Von Thaer to its Board of Directors. Fowke, former CEO of Xcel Energy, brings extensive experience in energy transformation and regulatory navigation. Von Thaer, CEO of Battelle, adds expertise in research and cyber security. AEP also appointed Sara Martinez Tucker as lead director following Steve Rasmussen's resignation. AEP aims to enhance its clean energy strategy, targeting a 50% renewable generation portfolio by 2030 and an 80% reduction in carbon dioxide emissions by the same year.
- Ben Fowke and Lou Von Thaer bring valuable expertise in energy transformation and technology.
- AEP's commitment to achieving 50% renewable energy by 2030 aligns with industry trends towards sustainability.
- Sara Martinez Tucker's leadership role is expected to strengthen board dynamics and decision-making.
- None.
COLUMBUS, Ohio, Feb. 22, 2022 /PRNewswire/ -- Ben Fowke, former chairman of Xcel Energy, and Lewis "Lou" Von Thaer, president and CEO of Battelle Memorial Institute, have been elected to the American Electric Power (Nasdaq: AEP) Board of Directors.
"Ben and Lou bring valuable experience in energy transformation, energy policy, technology and security to our board as we continue to make progress on our strategy to provide cleaner energy and a smarter, more resilient and more reliable system for our customers," said Nicholas K. Akins, AEP chairman, president and chief executive officer.
"Ben has been a visionary leader in our industry and delivered strong results for Xcel shareholders while managing Xcel's aggressive transition to clean energy resources. He has expertise in navigating the unique regulatory and public policy issues that impact investor-owned utilities and a strong background in finance, financial reporting and shareholder outreach," Akins said.
"Lou leads the world's largest independent research and development organization and has experience in global research, manufacturing and extensive governmental experience. He also has expertise in cyber and national security issues. We welcome Ben's and Lou's engagement and insights as part of our board," Akins said.
AEP also named Sara Martinez Tucker lead director following the resignation of Steve Rasmussen from the board for personal reasons.
"I want to sincerely thank Steve for his significant contributions during the decade that he has been on our board. His experience and insights have been extremely valuable, and we wish him all the best," Akins said.
"Sara already has taken a leadership role on our board and chairs our Human Resources Committee. Her experience on other corporate boards and her executive positions in education, government and the highly regulated telecommunications industry have brought incredibly valuable perspectives to AEP. We're very excited to have her take on this role," Akins said.
Fowke, 63, was chairman and CEO of Xcel for more than a decade until his retirement as CEO in August 2021. He remained executive chairman of the Xcel board until December 2021. Fowke held a variety of leadership roles at Xcel including chief operating officer and chief financial officer. He also was CEO of Xcel's utility subsidiaries Northern States Power Co., Public Service Co. of Colorado and Southwestern Public Service. Fowke has a bachelor's degree in finance and accounting from Towson University and obtained his CPA in 1982. He is on the board of Securian Financial and Energy Insurance Mutual and former chair of the board of Edison Electric Institute.
Von Thaer, 61, has been president and CEO of Battelle since October 2017. Before joining Battelle, he was CEO of DynCorp International. He began his technology career with AT&T Bell Laboratories, worked at General Dynamics and at Leidos Inc. as president of their national security sector. Von Thaer has a bachelor's degree in electrical engineering from Kansas State University and a master's degree in electrical engineering from Rutgers University. Von Thaer is board chair of Pacific Northwest National Laboratory and AmplifyBio, co-chair for UT-Battelle (operator of Oak Ridge National Laboratory) and a board member of Ambri Inc., Defense Science Board, Nationwide Children's Hospital, National Veterans Memorial and Museum, and TAPS (Tragedy Assistance Program for Survivors). He also is a member of The Ohio State University Board of Trustees.
Tucker, 66, is former CEO of the National Math and Science Initiative. She has been a member of the AEP Board of Directors since 2009. She is a retired executive of AT&T and a former Under Secretary of Education in the U.S. Department of Education. Tucker is a board member of Service Corporation International and Nationwide Insurance, as well as a member of the University of Notre Dame's Board of Trustees and Board of Fellows.
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 30,000 megawatts of diverse generating capacity, including more than 6,100 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately
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SOURCE American Electric Power
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