VALLEY FORGE, Pa., May 28, 2019 /PRNewswire/ -- PJM Interconnection today announced that Andrew L. Ott, president and chief executive officer, is retiring from the organization on June 30, 2019. To ensure a smooth leadership transition, Ott has agreed to serve as an adviser to the PJM Board of Managers through December 31, 2019.
"I want to thank Andy for his many contributions since joining PJM in 1996. Andy has served in many capacities, has been instrumental in developing competitive markets, maintaining system reliability and has helped PJM achieve its status as a leader in our industry," said Dr. Ake Almgren, chairman – PJM Board of Managers. "My colleagues on the Board and I look forward to working with Andy to ensure a smooth transition as we begin a search for a new CEO."
Ott has had a distinguished career with PJM for 22 years. He joined the regional transmission organization in 1996 and helped launch the wholesale energy market in April 1997. Prior to his appointment as president and CEO in 2015, Ott held a number of senior leadership positions.
"It has been a great privilege to serve as CEO and lead an incredibly talented group of professionals," said Ott. "I am grateful to have worked with such a talented group of people throughout my career at PJM, and I know PJM will continue to move ahead with solid values and integrity."
The PJM Board of Managers has formed a committee to oversee the search for a new CEO. In the interim, the Board has announced that Susan J. Riley, a Board member since 2005, will serve as interim CEO, beginning July 1, 2019.
PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 million people in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. PJM coordinates and directs the operation of the region's transmission grid, which includes over 84,236 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM's regional grid and market operations produce annual savings of $2.8 billion to $3.1 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com.
SOURCE PJM Interconnection