AEP picks Julie Sloat to become its new top executive
American Electric Power COLUMBUS — has chosen one of its top executives to become its new CEO.
Julie Sloat, currently AEP’s executive vice president and chief financial officer, became president on Wednesday, and she will transition to CEO on Jan. 1. She replaces Nick Akins, 61, who is stepping down as president immediately as part of the company’s succession plan and will end his term as CEO Dec. 31. He will remain chairman of the company’s board.
He has been president and CEO since 2011 and chairman since 2014. Sloat, 53, has been executive vice president and chief financial officer for AEP since January 2021, and was a former president and chief operating officer of AEP Ohio, an AEP operating company that serves 1.5 million customers in the state.
She is AEP’s 11 president and seventh CEO, and the first woman to run the company.
“This is a time of tremendous change and opportunity for AEP as we invest in new energy technologies and infrastructure to provide clean and reliable energy to our 5.5 million customers,” Sloat said in a statement. “I’m honored to have the opportunity to lead an amazing team of nearly 17,000 employees and have seen first-hand their commitment to the communities we serve and ensuring our customers can count on us every day to power their lives and businesses. It’s an exciting time to be in this industry and build on the 116-year legacy of AEP.”
Sloat takes over at a time when AEP is transitioning away from fossil fuels to renewable energy. AEP has pledged to slash its emissions of carbon dioxide by 80% by 2030 and net zero by 2050.
AEP is one of the nation’s biggest power companies, serving 5.5 million customers in 11 states.