IDACORP and Idaho Power add Albertsons and Boise Cascade Executives to their Boards of Directors

Rhea-AI Summary

Nate Jorgensen and Susan Morris have been named to the board of directors of IDACORP, Inc. and Idaho Power. Jorgensen is the CEO of Boise Cascade Company and Morris is the Executive Vice President and COO at Albertsons Companies. They will offer valuable insights into serving customers with reliable, affordable, clean energy.

BOISE, Idaho--(BUSINESS WIRE)-- Nate Jorgensen and Susan Morris, top executives at two public, Idaho-based companies, have been named to the board of directors of IDACORP, Inc. (NYSE: IDA) and Idaho Power, effective May 18.

Jorgensen has served as the CEO of Boise Cascade Company since March 2020. Prior to that role, he was the company’s chief operating officer responsible for overseeing the Wood Products and Building Materials Distribution divisions. Jorgensen joined Boise Cascade in 2015 after 28 years with Weyerhaeuser, where he served in various leadership roles.

Morris is the Executive Vice President and Chief Operations Officer at Albertsons Companies, a role she has held since January 2018. She leads the company’s retail operations, overseeing more than 2,200 stores across 34 states, and has held a variety of leadership roles in her more than 38 years in the retail grocery industry.

“We are thrilled to have these two proven leaders in Idaho industry on our Board,” said Lisa Grow, IDACORP and Idaho Power President and Chief Executive Officer. “Nate and Susan will offer valuable insights into how we can continue serving our customers, communities, and shareowners with reliable, affordable, clean energy.”

Jorgensen earned a bachelor’s degree in civil and environmental engineering from the University of Wisconsin and attended the Tuck School of Business Executive Education Program at Dartmouth University. He serves on the board of directors for the American Wood Council.

Morris is a graduate of Colorado State University with a degree in Social Science/Political Science. She also serves on the board of the J.A. and Kathryn Albertsons Foundation, the Food Marketing Institute, and the Federal Reserve Bank of San Francisco’s Salt Lake City Branch Board of Directors.

“Nate and Susan offer a wealth of knowledge and expertise in both operations and leadership, along with strong ties to the Idaho community,” said Richard Dahl, Chairman of the Board of IDACORP and Idaho Power. “Their proven records of success while leading Boise Cascade and Albertsons are a testament to the depth of knowledge they will bring to our team.”

Background Information

IDACORP, Inc. (NYSE: IDA), Boise, Idaho-based and formed in 1998, is a holding company comprised of Idaho Power, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978. Idaho Power, headquartered in vibrant and fast-growing Boise, Idaho, has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile service area in Idaho and Oregon. Idaho Power’s goal to provide 100% clean energy by 2045 builds on its long history as a clean-energy leader that provides reliable service at affordable prices. With 17 low-cost hydropower projects at the core of its diverse energy mix, Idaho Power’s residential, business, and agricultural customers pay among the nation's lowest prices for electricity. It’s 2,000 employees proudly serve more than 620,000 customers with a culture of safety first, integrity always, and respect for all. To learn more about IDACORP or Idaho Power, visit www.idacorpinc.com or www.idahopower.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230519005050/en/

Investor and Analyst Contact

Justin S. Forsberg

Director of Investor Relations & Treasury

Phone: (208) 388-2728

JForsberg@idacorpinc.com

Media Contact

Jordan Rodriguez

Corporate Communications

Phone: (208) 388-2460

JRodriguez@idahopower.com

Source: IDACORP, Inc.

FAQ

Who are the new members of the board of directors of IDACORP, Inc. and Idaho Power?

The new members of the board of directors are Nate Jorgensen and Susan Morris.

What are the positions of Nate Jorgensen and Susan Morris in their respective companies?

Nate Jorgensen is the CEO of Boise Cascade Company and Susan Morris is the Executive Vice President and COO at Albertsons Companies.

What expertise do Nate Jorgensen and Susan Morris bring to the board?

They bring expertise in operations, leadership, and strong ties to the Idaho community.

What is IDACORP, Inc.?

IDACORP, Inc. is a holding company comprised of Idaho Power, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects.

What is Idaho Power's goal?

Idaho Power's goal is to provide 100% clean energy by 2045.

How many customers does Idaho Power serve?

Idaho Power serves more than 620,000 customers.