American Electric Power (AEP) has shared an update.
American Electric Power Company, Inc. has announced a change in leadership, with Julia A. Sloat being removed from her positions as Chair, CEO, and President effective February 25, 2024. This decision was unrelated to any operational, financial, or ethical issues. To ensure a smooth transition, she will stay on until April 8, 2024. Benjamin G. S. Fowke, III will take over as Interim CEO and President, with a substantial compensation package, including a $1.6 million salary and $6 million in restricted stock units. The company is actively searching for a permanent CEO replacement.
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