OGE Energy Corp. Board names Luke C. Kissam, IV to board of directors

Rhea-AI Summary

OGE Energy Corp. (NYSE: OGE) has appointed Luke C. Kissam, IV, to its board of directors, effective Sept. 1, 2020. Kissam, the former CEO of Albemarle Corporation, brings extensive experience in the specialty chemicals sector. His term will last until the May 2021 shareholders' meeting, where he is anticipated to be nominated for a full term. He will serve on the compensation and nominating and corporate governance committees. OGE Energy is a regulated utility serving 863,000 customers in Oklahoma and Arkansas, and holds a significant interest in Enable Midstream.

Positive

• Luke C. Kissam's extensive leadership experience is expected to strengthen the board.
• Kissam's background in specialized industries may bring valuable insights to OGE Energy.

Negative

• Concerns may arise regarding the transition and integration of Kissam into the board.
• Kissam's prior commitments could affect his ability to focus on OGE's strategic objectives.

OKLAHOMA CITY, Aug. 6, 2020 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE) today announced that Luke C. Kissam, IV has been elected to serve on its board of directors. His term will begin Sept. 1, 2020 and expire at the company's annual shareholder meeting in May 2021, at which time he is expected to be nominated for approval by the company's shareholders. He will serve on the compensation, and nominating and corporate governance committees.

Kissam is the former chairman, chief executive officer and president of Albemarle Corporation, a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. Prior to becoming CEO, he held various leadership positions at Albemarle since joining the company in 2003. He also serves on the board of directors of DuPont de Nemours and Albemarle Corporation and has served on a number of community and charitable boards and associations.

"We are pleased to welcome Luke to the board of directors," said OGE Energy Corp. Chairman, President and Chief Executive Officer Sean Trauschke. "He brings a depth of executive and board leadership that, combined with his rich, cross-discipline experience, will lend insight and perspective and serve to further strengthen our board. We look forward to his joining us in September."

OGE Energy Corp. is the parent company of OG&E, a regulated electric utility with approximately 863,000 customers in Oklahoma and western Arkansas. In addition, OGE holds a 25.5 percent limited partner interest and a 50 percent general partner interest of Enable Midstream, created by the merger of OGE's Enogex LLC midstream subsidiary and the pipeline and field services businesses of Houston-based CenterPoint Energy.

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SOURCE OGE Energy Corp.

FAQ

Who is Luke C. Kissam, IV, and what is his role at OGE Energy?

Luke C. Kissam, IV, is a newly appointed member of OGE Energy's board of directors, effective Sept. 1, 2020.

What experience does Luke C. Kissam bring to OGE Energy?

Kissam has extensive executive experience as the former CEO of Albemarle Corporation and has held various leadership positions since 2003.

How long will Luke C. Kissam serve on the board of OGE Energy?

His term will last until the annual shareholder meeting in May 2021, where he is expected to be nominated for approval.

What committees will Luke C. Kissam serve on at OGE Energy?

Kissam will serve on the compensation and nominating and corporate governance committees.

What is OGE Energy Corp.'s primary business?

OGE Energy is the parent company of OG&E, a regulated electric utility serving approximately 863,000 customers in Oklahoma and Arkansas.