American Electric Power taps former Xcel head Fowke as interim President/CEO (NASDAQ:AEP)
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American Electric Power (NASDAQ:AEP) said Monday it appointed board member Benjamin Fowke III as interim President and CEO, succeeding Julie Sloat, and named lead director Sara Martinez Tucker as its new Chair, effective immediately.
Fowke has been a member of AEP’s (AEP) board since February 2022, after serving as Chairman and CEO of Xcel Energy for more than a decade until his retirement as CEO in August 2021 and as Chairman until December 2021.
Sloat served as Chair, President and CEO since the start of 2023 after becoming CFO in January 2021; she joined the company in 1999.
“The board determined, based on discussions with Sloat, that it is time to identify a new CEO to lead the company’s next chapter,” AEP (AEP) said.
Separately, AEP (AEP) disclosed Q4 and FY 2023 financial results while reaffirming 2024 operating earnings guidance of $5.53-$5.73/share.
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