AEP NAMES KELLY CHIEF FINANCIAL OFFICER

Rhea-AI Summary

American Electric Power (Nasdaq: AEP) has appointed Ann P. Kelly as the new executive vice president and chief financial officer (CFO), effective November 30, 2022. Kelly, who previously served as CFO at AmeriGas Propane, will oversee AEP's accounting, treasury, risk, corporate planning, budgeting, and investor relations. She will report to Nicholas K. Akins, AEP's CEO, until January 1, when Julie Sloat transitions to CEO. AEP operates the largest electricity transmission system in the U.S. and aims for significant renewable energy growth by 2030.

Positive

• Appointment of a highly qualified CFO with vast industry experience.
• Commitment to renewable energy growth, targeting 50% of capacity by 2030.
• Plans for an 80% reduction in carbon emissions by 2030.

Negative

• None.

COLUMBUS, Ohio, Nov. 2, 2022 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Ann P. Kelly executive vice president and chief financial officer (CFO), effective Nov. 30. Kelly is currently vice president of finance and CFO for AmeriGas Propane, Inc., a UGI Corp. subsidiary.

Kelly will be responsible for AEP's accounting and tax, treasury and risk, corporate planning and budgeting, and investor relations functions. She will report to Nicholas K. Akins, AEP chair and chief executive officer (CEO), until Jan. 1 when Julie Sloat, AEP president and current CFO, becomes CEO.

"Ann brings significant financial expertise, deep industry knowledge and an engaging leadership style to this role, and I am thrilled to have her join our dynamic team. Her experience will be invaluable as we continue to grow our business and invest in a modern, reliable energy system to benefit our customers," Sloat said.

Kelly, 52, was appointed vice president of finance and CFO for AmeriGas in 2019. Previously, she was corporate controller and chief accounting officer for UGI, assistant treasurer for UGI, and controller and principal accounting officer for UGI Utilities.

Prior to joining UGI Utilities in 2014, Kelly was CFO for JGM, Inc., senior vice president of finance for Preferred Sands, and held roles of increasing responsibility in finance and accounting at Exelon Generation, PECO, Radnor Holdings, Price Waterhouse and Dean Witter. Kelly earned a bachelor's degree in accounting from Ohio Wesleyan University and a Master of Business Administration with a concentration in finance from Villanova 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 2005 levels by 2030 and has committed to achieving net zero by 2045. 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.

 

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SOURCE American Electric Power

FAQ

Who is the new CFO of AEP?

Ann P. Kelly has been appointed as the new CFO of American Electric Power.

When does Ann P. Kelly officially start as AEP CFO?

Ann P. Kelly will start her role as AEP CFO on November 30, 2022.

What are AEP's renewable energy goals by 2030?

AEP aims to have approximately 50% of its total generating capacity from renewable energy by 2030.

Who does Ann P. Kelly report to at AEP?

Ann P. Kelly will report to Nicholas K. Akins, AEP's CEO, until January 1, when Julie Sloat becomes CEO.