Former A.O. Smith CEO Paul Jones exiting WEC Energy board

Retired A.O. Smith Corp. CEO Paul Jones has retired from the WEC Energy Group Inc. board effective Dec. 31, 2017.

WEC Energy Drops “Interim” From Klappa’s Title In SEC Filing

WEC Energy Group removed the “interim” from the title for CEO Gale Klappa following his appointment as President and CEO after CEO Allen Leverett suffered a stroke several months ago. Leverett, 51, was released from the hospital on October 27th and is receiving speech therapy as he continues his recovery according to a regulatory filing. He retains his title of President which was his title before he was promoted to President and CEO in May, 2016. Klappa is expected to act as CEO until Leverett is able to re-assume his duties.


WEC Energy Group president and CEO Allen Leverett has been hospitalized following an apparent stroke.
The Board ofDirectors at the Milwaukee-based parent company of We Energies has voted to name Gale
Klappa, 67, to the interim role “until such time as Mr. Leverett is able to re-assume those responsibilities,”
the company said in a filing with the U.S. Securities and Exchange Commission. Klappa has been serving
as non-executive Chairman. Leverett, 51, took over as CEO on May 1, 2016 when he was 49.


The Wisconsin Public Service Commission has approved a two-year rate freeze for We
Energies’ and Wisconsin Public
Service’s electric and natural gas customers. The rate
freeze was part of a settlement proposed by WEC Energy Group,
the utilities’ parent
company, and supported by 24 of its largest customers. The two-year rate freeze means
that We
Energies’ electric rates — excluding fuel costs, which fluctuate — will remain
unchanged for four years. Six years also
will have passed since the utility’s last significant
increase in electric rates. In accepting the proposed settlement, the
commissioners made
clear that the commission will need to address several issues involving deferred costs that
have not
been included in We Energies rates. Those costs were projected to reach almost
$500 million by the end of the year.


Chicago based Peoples Gas, a subsidiary of WEC Energy Group, is contributing $5 million to the Navy Pier to fund what will be known as the Peoples Energy Welcome Pavilion in Polk Brother’s Park at the entrance to the Pier. Peoples Gas said it is making the contribution to honor the company’s 100-year partnership with Navy Pier, which was one of the gas company’s first commercial customers. When completed later this year, the 4,000-square-foot Welcome Pavilion will include a landscaped roof with panoramic views, a cafe and information for arriving visitors about what the Pier has to offer. Pier officials estimate that approximately 9 million people a year visit the Pier.

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