FERGUS FALLS, Minn., Feb. 6, 2014 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced the appointment of Charles (Chuck) S. MacFarlane, current president and CEO of Otter Tail Power Company, to the role of president and chief operating officer of Otter Tail Corporation, effective April 14, 2014. In his new role, MacFarlane will advance the growth and profitability strategies in place at both Otter Tail Power Company and the manufacturing and infrastructure businesses under Varistar, while current Otter Tail Corporation President and CEO, Edward J. (Jim) McIntyre will continue to guide corporate strategy. McIntyre expects to retire at the corporation's annual shareholder meeting in 2015. MacFarlane is expected to be named as McIntyre's successor at that time. Otter Tail Power Company intends to name MacFarlane's successor in the second quarter 2014.
"I am delighted to announce Chuck's new role at Otter Tail Corporation," said McIntyre. "His achievements and wide-ranging management experience, insights into the corporation's culture, and appreciation for its diversified business model, make him ideally qualified for this new role. Under his leadership, Otter Tail Power Company has produced consistently strong financial results, while keeping rates low and maintaining good relationships with customers and regulators."
"The opportunity to help further increase the value of our corporation is invigorating," said MacFarlane. "Otter Tail Corporation's approach to diversification – through our electric platform and through our manufacturing and infrastructure platform under Varistar– has never been more important to the long-term success of the company. I am privileged to serve alongside such a strong executive team, leadership bench and talented, dedicated employees."McIntyre added, "Naming Chuck president now gives the two of us the chance to work closely together for a year before I retire, which represents sound succession planning for the organization. I look forward to collaborating with Chuck during the coming year to help ensure a smooth transition."
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