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Corning Energy Announces CEO Appointment

1. Tony Dorazio appointed CEO of Corning Energy, effective June 2025. 2. Dorazio has extensive experience in the energy sector, improving stakeholder value. 3. Corning Energy emphasizes commitment to sustainable and affordable energy services. 4. Tony Dorazio had leadership roles in major global energy companies. 5. Mike German will retire after two decades of leadership at Corning Energy.

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Why Neutral?

The leadership change may stabilize operations but lacks immediate financial implications.

How important is it?

Leadership changes can affect future strategy but are not directly linked to GLW’s immediate performance.

Why Long Term?

Dorazio's long-term strategic direction will influence the company's growth trajectory.

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Corning Energy announces the appointment of Tony Dorazio as the next Chief Executive Officer, succeeding Mike German CORNING, N.Y.--(BUSINESS WIRE)--Corning Energy is pleased to announce that Tony Dorazio has been appointed Chief Executive Officer, effective June 2, 2025. Mr. Dorazio brings more than four decades of utility and energy industry experience. Throughout his career, he has led multiple organizations through complex industry transformations, while delivering value for stakeholders. Under Dorazio’s leadership, Corning Energy will continue its unwavering commitment to delivering safe, reliable and affordable gas and electric services to the nearly 15,000 customers Corning serves, while reinforcing the company’s commitment to a more sustainable energy future. “Tony’s depth of experience and dynamic leadership style make him exceptionally well-suited to lead Corning Energy into its next chapter. His appointment reflects Corning’s continued focus on reliability, accountability, and responsible growth,” said Jason Zibarras, Managing Partner and Founder of Argo Infrastructure Partners; Corning Energy is wholly owned by funds managed by Argo Infrastructure Partners. Dorazio last served as Managing Partner of Montgomery Group, an energy and utility consulting firm. Prior to that, he served as Chief Commercial Officer of Avangrid Renewables, a subsidiary of Iberdrola Group. Over the years, Tony held senior positions with global energy companies, including Duke Energy, Vestas and BP in London. Throughout Dorazio’s distinguished career, he has led the infrastructure development and operations of power generation assets, in addition to managing critical operational restructurings and strategic realignments. His career began at Central Hudson Gas & Electric, serving as a Plant Engineer. Later, he joined New York State Electric & Gas, where he continued his focus on Transmission & Distribution planning and operations. During his 40-plus year professional journey, he served in a range of executive and advisory capacities, primarily in regulated capital-intensive energy businesses. Dorazio holds a B.S. in Electromechanical Engineering from the State University of New York at White Plains and an MBA from Long Island University. “I am honored to lead the impressive Corning Energy team, whose culture is rooted in innovation and a shared purpose. Also, I’m excited to return to a New York utility, where I started my career and I’m looking forward to serving Corning’s customers, delivering safe, reliable, affordable, and increasingly clean energy,” said Dorazio. Both Argo and Corning Energy also wish to express their sincere appreciation and gratitude to Mike German for his tireless dedication to the company. For nearly two decades, Mike has been instrumental in leading the development of Corning Energy into a highly successful and respected utility serving its local communities. Mike will retire from his role as CEO on June 1, 2025. About Corning Energy Corporation Corning Natural Gas Corporation is a subsidiary of Corning Natural Gas Holding Corporation. Corning Natural Gas operates nearly 450 miles of distribution mains to transport natural gas to approximately 15,000 customers. Gas deliveries span 23 towns and villages, over 400 square miles, throughout the Southern Tier and central regions of New York State. Argo Infrastructure Partners Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, and other long duration infrastructure assets. Argo’s investment philosophy couples sound investment return with responsible and sustainable investing. As of December 2024, Argo manages over $6 billion in assets on behalf of its investor partners. For more information, visit www.argoip.com.

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