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Wisconsin Energy's CEO Hosts 2012 Annual Shareholder Meeting (Transcript)

Gale Klappa

Thank you. Thank you again Angela and Jenea. Well I’m delighted to see that so many of you were able to join us here in person this morning. I’d also like to extend a word of welcome those who are joining us via the internet. Our meeting is streaming live this morning at wisconsinenergy.com.

And now it’s time to call our 2012 annual meeting to order. I’ve been given the inspectors report which indicates that more than 85% of the company’s outstanding shares are represented. This constitutes a quorum under our bylaws and this meeting therefore is duly convened to conduct business. At the end of our formal program, we’ll be happy to answer as many of your questions as time allows. You may also ask questions of any of our officers or directors who are here today.

As always, some of the information you will receive at this meeting is forward-looking in nature and is based on our current expectations. Our projections clearly involve risks and uncertainties, factors discussed in the company’s latest Form 10-K and in future reports filed with the Securities and Exchange Commission could cause our actual results to differ materially from those discussed today.

Now we’ll begin our business session by introducing the members of the Wisconsin Energy Board of Directors. I would ask each of our directors to please stand as I introduce them and remain standing until all have been recognized. Please you’re your applause until the end of the introductions.

John F. Bergstrom, Chairman and Chief Executive Officer of Bergstrom Corporation. John has been called to Detroit for an urgent meeting today and unfortunately could not be with us. Barbara L. Bowles, Retired Vice Chair of Profit Investment Management and Retired Chairman of The Kenwood Group. Patricia W. Chadwick, President of Ravengate Partners LLC. Robert A. Cornog, Retired Chairman of the Board, President and Chief Executive Officer of Snap-on Incorporated. Curt S. Culver, Chairman and Chief Executive Officer of MGIC Investment Corporation and Mortgage Guaranty Insurance Corporation. Thomas J. Fischer, Principal of Fischer Financial Consulting LLC. Ulice Payne, Jr., Managing Member of Addison-Clifton, LLC. And finally, I’m please to introduce our newest board member, Mary Ellen Stanek, Managing Director and Director of Asset Management for Robert W. Baird & Company Incorporated. Please join me in a round of our applause for our terrific directors.

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