Wisconsin Energy board elects Leverett president; Klappa remains chairman and CEO

Jul 19, 2013, 07:00 ET from Wisconsin Energy Corporation

MILWAUKEE, July 19, 2013 /PRNewswire/ -- The board of directors of Wisconsin Energy Corporation (NYSE: WEC) named Allen L. Leverett president, effective Aug. 1.

(Photo: http://photos.prnewswire.com/prnh/20130719/CG49864-a)

(Photo: http://photos.prnewswire.com/prnh/20130719/CG49864-b)

Leverett, 46, currently serves as an executive vice president of Wisconsin Energy and head of the company's power generation group.  He will succeed Gale E. Klappa as president of the corporation.  Klappa, 62, will continue as chairman of the board and chief executive officer.  Klappa has held all three positions since May of 2004.

"Allen has extensive experience in system planning, finance, strategy development and every aspect of our power generation business.  He has been a key contributor to our success over the past decade, and today's announcement recognizes his excellent leadership skills and his broader operational role in the company," Klappa said.  "Allen and I will continue to work closely together to deliver exceptional service for our customers and ongoing value for our stockholders."

Leverett was appointed president and chief executive officer of We Generation in March of 2011.  Today, he has overall responsibility for Wisconsin Energy's electric generation portfolio, fuel procurement, environmental compliance and the company's strategy for renewable energy development.  He also leads the company's human resources group.

Leverett joined Wisconsin Energy in 2003, as chief financial officer.  In May 2004, he was named executive vice president and chief financial officer of Wisconsin Energy and We Energies.  Prior to joining the company, he served as chief financial officer and executive vice president of Georgia Power Co. in Atlanta, Ga.  Before that, Leverett was vice president and treasurer of Southern Company Services with overall responsibility for financial planning and analysis, capital markets and leasing, treasury and investor relations.  Previously, Leverett held a variety of positions in transmission planning, integrated resource planning, strategic planning, wholesale marketing and finance.

Leverett earned his bachelor's degree, summa cum laude, in electrical engineering and mathematics from Vanderbilt University, Nashville, Tenn.  He also earned a master's degree in electrical engineering from Stanford University, Palo Alto, Calif., and a Master of Business Administration degree with a finance concentration from Auburn University, Auburn, Ala. 

Leverett is a director of American Transmission Company and nonexecutive chairman of Church Mutual Insurance Company.  He is also a member of the board of directors of the Discovery World Museum and the board of trustees of Alverno College, both in Milwaukee.

Wisconsin Energy Corporation (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and 1.1 million natural gas customers in Wisconsin.  The company's principal utility is We Energies.  The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.

Wisconsin Energy (wisconsinenergy.com), a component of the S&P 500, has more than $14 billion of assets, approximately 4,500 employees and more than 41,000 stockholders of record.

SOURCE Wisconsin Energy Corporation