WEC Energy Board of Directors Changes

 

Cunningham Elected to WEC Energy Group Board

Cunningham, 62, who retired in 2016, had previously served Deloitte since 2002. Prior to joining Deloitte, he was a partner at Arthur Andersen, where he worked from 1980 to 2002. He has more than 30 years of experience serving public audit clients in a broad array of industries, including manufacturing, printing, software and financial services. He received his Bachelor’s Degree in accounting from The Ohio State University and a Master’s in Business Administration from the University of Wisconsin.Danny L. Cunningham, retired Partner and Chief Risk Officer of Deloitte & Touche LLP, has been appointed to the Board of Directors of WEC Energy Group and will serve on the Audit and Oversight Committee.

Cunningham currently serves as a member of the Board of Directors and Chair of the Audit Committee of Actuant Corporation. He qualifies as an independent director under WEC Energy Group’s Corporate Governance Guidelines.

 

Farrow Elected to WEC Energy Board

William M. Farrow III, Organizer, Chief Executive Officer, President and Director of Urban Partnership Bank in Chicago, was appointed to the Board of Directors of WEC Energy Group effective January 1, 2018.

At Bank One, he held many senior positions where his responsibilities included ecommerce/ebusiness management, technology sales management, and technology platform development and conversion. Farrow brings more than 39 years of executive management experience in managing business operations, managing enterprise risk and strategy. He qualifies as a technology expert and a financial expert.William M. Farrow III, Organizer, Chief Executive Officer, President and Director of Urban Partnership Bank in Chicago, was appointed to the Board of Directors of WEC Energy Group effective January 1, 2018.

Jones Retires from Board at Year-End

Paul W. Jones retired from the Board effective December. 31. Jones, 67, served as a Director of Integrys Energy Group and joined the WEC Energy Group Board of Directors when the company acquired Integrys in 2015.

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 GROUP CEO LEVERETT RECOVERING FROM STROKE

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.

PSCW APPROVES RATE FREEZE FOR WE ENERGIES, WPS CUSTOMERS

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.

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