American Electric Power (AEP) has appointed Benjamin G.S. Fowke III, a member of the company’s board of directors and the former chairman and CEO of Xcel Energy, as interim CEO and president.
Fowke succeeds Julie Sloat, who, along with the board, determined it is time to identify a new CEO to lead the company's next chapter. This decision was not a result of any disagreement with Sloat regarding AEP's operations, policies or financial performance and was not made for cause or related to any ethical or compliance concern.
In addition, the board has appointed its lead director, Sara Martinez Tucker, as chair. The board also has engaged a leading executive search firm to conduct an external search for a permanent CEO.
“After thorough deliberation and discussions with Julie, the board determined now is the right time to make this leadership transition to best position AEP for the future,” said Tucker. “The company has made great progress managing our portfol
