Pinnacle West Adds Former Head of Arizona Hispanic Chamber of Commerce to Its Board of Directors

Rhea-AI Summary

Pinnacle West Capital Corp. (NYSE: PNW) has appointed Gonzalo A. de la Melena Jr. to its board of directors. With over 20 years of management experience, de la Melena has a background in consumer goods and has served as President and CEO of the Arizona Hispanic Chamber of Commerce. His expertise in corporate leadership and community engagement is expected to enhance the company's representation and relationships within Arizona. Pinnacle West, an energy holding company with approximately $22 billion in assets and more than 1.3 million customers, continues to focus on responsible growth and community service.

Positive

• Gonzalo A. de la Melena Jr.'s appointment brings over 20 years of management experience.
• His background in community engagement may enhance the company's connection with local businesses.
• Strengthening leadership with a focus on diversity and inclusion.

Negative

• None.

PHOENIX--(BUSINESS WIRE)-- Pinnacle West Capital Corp. (NYSE: PNW) announced today that Gonzalo A. de la Melena Jr., Founder and Chief Executive Officer of Phoenix-based Emerging Airport Ventures, has been elected to the company’s board of directors effective immediately.

Gonzalo A. de la Melena Jr., Founder and Chief Executive Officer of Phoenix-based Emerging Airport Ventures, has been elected to the Pinnacle West Capital (NYSE: PNW) board of directors effective immediately. For nearly a decade, de la Melena served Arizona communities as President and CEO of the Arizona Hispanic Chamber of Commerce, where he helped Latino-owned businesses find access to capital and resources to help them grow and prosper. He also was Operator of the Minority Business Development Agency (MBDA), the region’s leading advocate representing more than 200,000-plus minority business enterprises. In that capacity, he worked directly with national and regional economic development organizations and elected officials on supplier development, diversity, equity and inclusion. (Photo: Business Wire)

For nearly a decade, de la Melena served Arizona communities as President and CEO of the Arizona Hispanic Chamber of Commerce, where he helped Latino-owned businesses find access to capital and resources to help them grow and prosper. He also was Operator of the Minority Business Development Agency (MBDA), the region’s leading advocate representing more than 200,000-plus minority business enterprises. In that capacity, he worked directly with national and regional economic development organizations and elected officials on supplier development, diversity, equity and inclusion.

“Gonzalo is an impressive executive with a strong combination of corporate, civic and entrepreneurial experience,” said Pinnacle West Chairman, President and Chief Executive Officer Jeff Guldner. “His relationships with Arizona business and Hispanic communities are important qualities that are valued by me and our entire board. Additionally, Gonzalo’s diversity and expertise will make our company stronger and better represent the communities we serve, while helping Arizona grow in responsible ways.”

de la Melena has more than 20 years of management experience in consumer package goods, retail and restaurants. He began his career in “back of the house” restaurant operations before joining consumer products companies Coca-Cola and The Dial Corporation, where he conducted business in more than 30 countries before reaching 30 years of age.

He currently serves on the National Board of Directors for Airport Minority Advisory Council (AMAC), Gainey Business Bancorp (in organization), Education Forward Arizona and is a member of Greater Phoenix Leadership (GPL). He earned a Master of Business Administration from Thunderbird School of Global Management and received an undergraduate degree in business from Arizona State University.

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $22 billion, about 6,300 megawatts of generating capacity, and nearly 5,900 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to more than 1.3 million Arizona homes and businesses. For more information about Pinnacle West, visit the company’s website at pinnaclewest.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220225005084/en/

Media Contact: Alan Bunnell (602) 250-3376

Analyst Contact: Amanda Ho (602) 250-3334

Website: pinnaclewest.com

Source: Pinnacle West Capital Corp.

FAQ

Who is Gonzalo A. de la Melena Jr. in relation to Pinnacle West Capital Corp. (PNW)?

Gonzalo A. de la Melena Jr. has been elected to the board of directors of Pinnacle West Capital Corp. effective immediately.

What experience does Gonzalo A. de la Melena Jr. bring to PNW's board?

He has over 20 years of management experience, including leadership roles in consumer goods and as President and CEO of the Arizona Hispanic Chamber of Commerce.

What impact could de la Melena's appointment have on PNW?

His expertise in community engagement and corporate leadership could strengthen PNW's representation in local markets.

When was Gonzalo A. de la Melena Jr. appointed to the PNW board?

He was appointed to the Pinnacle West Capital Corp. board of directors effective immediately.

What are the financial assets of Pinnacle West Capital Corp. (PNW)?

Pinnacle West has consolidated assets of approximately $22 billion and serves over 1.3 million customers.