American Electric Power Appoints Benjamin G.S. Fowke III to Serve as Interim CEO and President

American Electric Power (Nasdaq: AEP) made a significant announcement, revealing Benjamin G.S. Fowke III as the newly appointed Interim Chief Executive Officer and President. Fowke, a seasoned veteran and former Chairman and CEO of Xcel Energy, Inc., steps into this role with immediate effect, succeeding Julie A. Sloat. In addition, Sara Martinez Tucker, the lead Director, assumes the role of Chair while the board initiates an external search, facilitated by a prominent executive search firm, for a permanent CEO.

Fowke’s wealth of experience includes over a decade of leadership at Xcel Energy, Inc., where he served as chairman and CEO. He brings deep industry knowledge, having held various key positions within Xcel. Fowke holds a bachelor’s degree in finance and accounting from Towson University and has been an influential figure in the energy sector throughout his career.

The decision to transition leadership comes after thoughtful consideration by the board, who, following discussions with Sloat, recognized the opportune moment to steer the company towards its next phase of growth. It’s important to note that this change isn’t a reflection of any discord regarding AEP’s operations, policies, or financial standing. Simultaneously, AEP disclosed its fourth-quarter and year-end 2023 financial results, reaffirming its 2024 operating earnings guidance.

Headquartered in Columbus, Ohio, American Electric Power boasts a workforce of nearly 17,000 employees. It operates and maintains an extensive transmission and distribution network, serving millions of customers across 11 states.

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