PPL Appoints Craig A. Rogerson as Independent Board Chair

Rhea-AI Summary

PPL Corporation has appointed Craig A. Rogerson as independent board chair, effective March 1, 2021, following the retirement of William H. Spence. Rogerson, a board member since 2005, brings extensive leadership experience from his tenure in various chemical companies, including Hexion. The move emphasizes PPL's focus on corporate governance and leadership continuity. Rogerson expressed gratitude for Spence's contributions and aims to enhance operational excellence and shareholder value with current CEO Vince Sorgi.

Positive

• Craig A. Rogerson brings over a decade of experience on PPL's board, indicating strong organizational knowledge.
• Rogerson's leadership is expected to provide continuity and stability at a critical time for PPL.
• His background in operations and risk management may enhance PPL's governance and strategic direction.

Negative

• None.

ALLENTOWN, Pa., Jan. 25, 2021 /PRNewswire/ -- The board of directors of PPL Corporation (NYSE: PPL) has appointed director Craig A. Rogerson to serve as independent board chair effective March 1, 2021. This follows Non-Executive Chairman William H. Spence's decision to retire from PPL's board of directors effective the same date.

Rogerson, who has served on PPL's board since 2005, is chairman, president and chief executive officer of Hexion Holdings Corporation and Hexion Inc., a global producer of thermoset resins and other chemical platforms.

"Craig has been a strong, engaged and independent voice on PPL's board for more than a decade, having served with four different CEOs during that time," said Spence. "He understands PPL and the changes within our company and industry, is experienced as a board leader, and possesses a wealth of organizational, operational and risk management expertise. He is an excellent choice for independent chair and will provide outstanding leadership and continuity for PPL as he assumes his new role."

Rogerson's appointment reflects PPL's continued commitment to strong corporate governance and independent oversight by a diverse, engaged board.

"I am honored to be selected as independent chair," Rogerson said. "And on behalf of our entire board, I want to thank Bill for his exceptional leadership and vision in guiding PPL as chief executive officer until his retirement from that role in June 2020 and as chairman of PPL's board since 2012. Looking ahead, I am eager to work closely with the board and with PPL CEO Vince Sorgi as we focus on delivering operational excellence, providing superior customer service and creating long-term value for our shareowners."

Rogerson has chaired the board's Compensation Committee and has served on its Executive and Finance committees.

Prior to his current role with Hexion, Rogerson's past roles included chairman, president and CEO of Chemtura Corporation, a global manufacturer of specialty chemicals; president, CEO and director of Hercules Incorporated; and president and CEO of Wacker Silicones Corporation.

Headquartered in Allentown, Pa, PPL Corporation (NYSE: PPL) is one of the largest companies in the U.S. utility sector. PPL's seven high-performing, award-winning utilities serve more than 10 million customers in the U.S. and United Kingdom. With more than 12,000 employees, the company is dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit www.pplweb.com.

Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.

Contacts: For news media: Ryan Hill, 610-774-4033
                For financial analysts: Andy Ludwig, 610-774-3389

View original content:http://www.prnewswire.com/news-releases/ppl-appoints-craig-a-rogerson-as-independent-board-chair-301213979.html

SOURCE PPL Corporation

FAQ

Who is the new independent board chair of PPL Corporation?

Craig A. Rogerson has been appointed as the new independent board chair of PPL Corporation.

When does Craig A. Rogerson officially take over as independent board chair?

Craig A. Rogerson will officially take over as independent board chair on March 1, 2021.

What experience does Craig A. Rogerson have?

Craig A. Rogerson has served on PPL's board since 2005 and has leadership roles in several major companies, including Hexion and Chemtura.

What is PPL's commitment regarding corporate governance?

PPL Corporation emphasizes strong corporate governance and independent oversight with a diverse and engaged board.

Why did William H. Spence retire from PPL's board?

William H. Spence retired from PPL's board effective March 1, 2021, after serving as chairman since 2012.