AEP Names Matthew Fransen Treasurer

Rhea-AI Summary

American Electric Power (AEP) has appointed Matthew Fransen as senior vice president, Finance and Treasurer, effective Dec. 1, succeeding retiring Julie Sherwood. Fransen will oversee finance and treasury functions, including capital market relations, cash flow management, capitalization strategy, and risk management. Currently serving as vice president of New Generation Resource Development, Fransen brings experience in renewable energy development and strategic initiatives. He will report to CFO Chuck Zebula and will be instrumental in managing AEP's investments in modernizing its energy system.

Positive

• Strategic appointment of experienced internal candidate with renewable energy expertise
• Planned succession ensures leadership continuity in treasury operations

Negative

• None.

COLUMBUS, Ohio, Oct. 24, 2024 /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Matthew Fransen senior vice president, Finance and Treasurer, effective Dec. 1. He will succeed Julie Sherwood, who is retiring after 20 years with the company. Fransen will report to Chuck Zebula, executive vice president and chief financial officer.

Fransen will be responsible for all elements of the finance and treasury function including working with banking institutions, investors and rating agencies to support AEP's capital market needs; cash flow management and forecasting; development of capitalization strategy and monitoring of key credit metrics; and management of AEP's trusts and investments. He also will lead management of various corporate risks, including markets, credit and insurance.

"AEP's investments in a reliable, modern energy system to deliver more value and affordable energy to customers require a strong connection to capital markets," Zebula said. "Matt's financial acumen paired with his expertise in corporate strategy will serve us well as AEP increases capital spend to support growth in our footprint and across the country."

"Julie has done an exceptional job managing our cash flow strategy and strengthening our relationships with industry stakeholders in the capital markets," Zebula said. "Her leadership and institutional knowledge were impactful in making the needed investments to build the energy system of the future. We wish Julie all the best in the future."

Fransen currently is vice president, New Generation Resource Development, and leads AEP's efforts to integrate renewable assets into its portfolio. He has held various roles in renewable energy development, including vice president, Renewable Development and Investment of AEP Renewables, a former subsidiary of AEP. Fransen also was a managing director in AEP's strategic initiatives group and a manager in the company's treasury organization. Prior to joining AEP, he held various roles with Bank One Corporation.

Fransen received his bachelor's and master's degree in business administration from the Ohio State University.

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.

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SOURCE American Electric Power

FAQ

When will Matthew Fransen start as AEP's new treasurer?

Matthew Fransen will start as AEP's senior vice president, Finance and Treasurer on December 1, 2023.

What will be Matthew Fransen's responsibilities at AEP?

Fransen will manage finance and treasury functions, including capital market relations, cash flow management, capitalization strategy, trust and investment management, and corporate risk management.

What was Matthew Fransen's previous role at AEP?

Fransen previously served as vice president of New Generation Resource Development, leading AEP's efforts to integrate renewable assets into its portfolio.

Who is Matthew Fransen replacing as AEP's treasurer?

Fransen is replacing Julie Sherwood, who is retiring after 20 years with the company.