This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AEP Announces Organizational Changes

COLUMBUS, Ohio, Dec. 14, 2012 /PRNewswire/ -- American Electric Power (NYSE: AEP) has announced organizational changes as part of a continuing corporate-wide repositioning effort, according to Nicholas K. Akins, AEP president and chief executive officer.

"We are redefining our organization to better address the business challenges we face today and potential opportunities in the future," Akins said.

Charles E. Zebula, currently treasurer and senior vice president – Investor Relations, will become executive vice president – Energy Supply, a new position reporting to Robert P. Powers, executive vice president and chief operating officer. Julie Sloat, currently vice president – Regulatory Case Management, will become treasurer and senior vice president. Sloat will report to Brian X. Tierney, executive vice president and chief financial officer.

Zebula will be responsible for separating AEP Ohio's generation from the company's regulated fleet by Jan. 1, 2014, as required under Ohio's move to enhance electric market deregulation.

"AEP is a regulated electric utility, with the vast majority of our operations and earnings tied to rate-regulated electric utilities," Akins said. "But Ohio's move to enhance electric market deregulation will shift much of AEP's Ohio generation into a separate competitive business. This is an important change for AEP. We're confident that Chuck's financial experience in leading AEP's treasury functions, combined with his prior operational experience running fuel procurement and our river operations business, makes him the right person to manage the transition and ensure it is seamless."

Functions reporting to Zebula will include Commercial Operations; AEP Energy, the company's retail marketing unit; AEP Energy Partners, the company's wholesale power marketing unit; and AEP River Operations, the company's dry-bulk barge transportation subsidiary.

Sloat will replace Zebula as AEP's treasurer.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs