COLUMBUS, Ohio, Oct. 24,
2024 /PRNewswire/ -- American Electric Power (Nasdaq:
AEP) has named Matthew Fransen
senior vice president, Finance and Treasurer, effective
Dec. 1. He will succeed Julie Sherwood, who is retiring after 20 years
with the company. Fransen will report to Chuck Zebula, executive vice president and chief
financial officer.
Fransen will be responsible for all elements of the finance and
treasury function including working with banking institutions,
investors and rating agencies to support AEP's capital market
needs; cash flow management and forecasting; development of
capitalization strategy and monitoring of key credit metrics; and
management of AEP's trusts and investments. He also will lead
management of various corporate risks, including markets, credit
and insurance.
"AEP's investments in a reliable, modern energy system to
deliver more value and affordable energy to customers require a
strong connection to capital markets," Zebula said. "Matt's
financial acumen paired with his expertise in corporate strategy
will serve us well as AEP increases capital spend to support growth
in our footprint and across the country."
"Julie has done an exceptional job managing our cash flow
strategy and strengthening our relationships with industry
stakeholders in the capital markets," Zebula said. "Her leadership
and institutional knowledge were impactful in making the needed
investments to build the energy system of the future. We wish Julie
all the best in the future."
Fransen currently is vice president, New Generation Resource
Development, and leads AEP's efforts to integrate renewable assets
into its portfolio. He has held various roles in renewable energy
development, including vice president, Renewable Development and
Investment of AEP Renewables, a former subsidiary of AEP. Fransen
also was a managing director in AEP's strategic initiatives group
and a manager in the company's treasury organization. Prior to
joining AEP, he held various roles with Bank One Corporation.
Fransen received his bachelor's and master's degree in business
administration from the Ohio State
University.
About AEP
At American Electric Power, based in
Columbus, Ohio, we understand that
our customers and communities depend on safe, reliable and
affordable power. Our nearly 16,000 employees operate and maintain
more than 40,000 miles of transmission lines, the nation's largest
electric transmission system, and more than 225,000 miles of
distribution lines to deliver power 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, including nearly 6,000 megawatts of
renewable energy. AEP is investing $43 billion over the next five years to make the
electric grid cleaner and more reliable. We are on track to reach
an 80% reduction in carbon dioxide emissions from 2005 levels by
2030 and have a goal to achieve net zero by 2045. AEP
is recognized consistently for its focus on sustainability,
community engagement and inclusion. AEP's family of
companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West
Virginia), AEP Appalachian Power (in
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. For more information, visit
aep.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/aep-names-matthew-fransen-treasurer-302285755.html
SOURCE American Electric Power