StockNews.AI
AEP
StockNews.AI
91 days

AEP Names Industry Veteran Doug Cannon President of AEP Transmission

1. Douglas A. Cannon appointed president of AEP Transmission, starting June 11. 2. AEP plans significant transmission network expansion to meet growing energy demands. 3. Cannon brings strong leadership experience from his role at NV Energy. 4. AEP is investing $54 billion from 2025-2029 for operational enhancements. 5. Cannon aims to drive industry-leading results for AEP's transmission operations.

8m saved
Insight
Article

FAQ

Why Bullish?

Cannon’s leadership may enhance operational efficiency and regulatory results, supporting growth forecasts. Historical examples include similar CEO transitions leading to improved stock performance.

How important is it?

Cannon’s prior success and AEP's ambitious investment plans increase growth potential, positively impacting stock value.

Why Long Term?

The $54 billion investment will significantly influence AEP's market position and service capabilities over the next several years.

Related Companies

NV EnergyBerkshire HathawayDuke Energy
, /PRNewswire/ -- American Electric Power (Nasdaq: AEP) has named Douglas A. Cannon president of AEP Transmission, effective June 11. Cannon will report to Bill Fehrman, AEP president and chief executive officer.In this role, he will lead all aspects of AEP's transmission business, including planning, projects, engineering, operations and growth. Cannon currently serves as the president and chief executive officer of NV Energy and is responsible for all aspects of service to its 1.4 million customers in Nevada. Doug Cannon named president of AEP Transmission (PRNewsfoto/American Electric Power) "AEP owns the largest transmission network in the country, and we owe it to our customers, employees, investors and other stakeholders to be best-in-class operators of that system," Fehrman said. "Between unprecedented load growth over the next decade, the joint venture transmission projects in PJM announced in February, and building one of the first 765- kilovolt lines in Texas, AEP is expanding our transmission footprint by thousands of miles. We were looking for an experienced leader who could immediately make an impact and drive results in this crucial part of our business. Doug is a respected industry leader who understands the importance of building coalitions to drive strong regulatory and operational results, and under his tenure, NV Energy is building the more than 700-mile Greenlink transmission network, Nevada's longest and largest transmission project. He also has a demonstrated track record of creating outstanding teams and leading with a growth mindset. We welcome Doug to AEP and look forward to working with him to strengthen our transmission organization to power the exciting opportunities ahead and provide depth to AEP's overall succession plan." "Now more than ever, AEP's robust transmission network is the catalyst for supporting growth across its footprint and the nation," Cannon said. "I am committed to working with the AEP team to drive industry-leading results while meeting customers' changing energy needs."Bob Bradish, currently interim president of AEP Transmission, has been named chief transmission officer and will report to Cannon."Bob has been a steady, knowledgeable leader during his time with AEP and especially over the past few months," Fehrman said. "He will remain a vital part of Transmission leadership and will continue to provide his expertise and institutional knowledge in his new role."After leaving private law practice, Cannon joined the Berkshire Hathaway Energy organization in 2011, working as an attorney for PacifiCorp Energy in Salt Lake City. In 2013, Cannon was the lead attorney in obtaining the regulatory approvals necessary for NV Energy to join Berkshire Hathaway Energy. With the closing of the NV Energy merger, Cannon joined the NV Energy team as senior vice president and general counsel, corporate secretary and chief compliance officer. Cannon was named president of NV Energy in 2018 and added the CEO role in 2019 with responsibility over the fully integrated gas and electric operations of NV Energy and its subsidiaries.Cannon received his bachelor's degree in environmental geoscience from Weber State University, his master's degree in environmental studies from the University of Colorado and his juris doctor from the University of Colorado School of Law. He has served on the board of trustees for the Las Vegas Council of the Boy Scouts of America, The National Judicial College and the Desert Research Institute.About AEPOur team at American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We are investing $54 billion from 2025 through 2029 to enhance service for customers and support the growing energy needs of our communities. Our nearly 16,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.SOURCE American Electric Power WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News