HONOLULU, Jan. 3, 2023
/PRNewswire/ -- Hawaiian Electric Industries, Inc. (HEI)
(NYSE: HE), the parent company to Hawaiian Electric Company, Inc.
(Hawaiian Electric) and American Savings Bank, F.S.B. (ASB), has
appointed Paul K. Ito as executive
vice president and chief financial officer (CFO), effective
January 1, 2023. Ito has been serving
as HEI's interim CFO since July 2022.
Ito was selected following a broad, national search conducted by
the HEI leadership team and its board of directors.
Ito has been with HEI since 2018, where he has served as vice
president of tax, controller and treasurer. He has led the
accounting, financial reporting, tax and treasury functions, and
provided support in the enterprise risk management, investment
analysis, and strategic and operating plan functions. Ito also
managed HEI's information technology efforts, leading digital
transformation initiatives in accounting, tax and financial
reporting.
"We are thrilled to promote Paul as our CFO," said Scott Seu, HEI's president and CEO. "He's a
strong and strategic leader, and his hands-on and disciplined
approach in delivering effective financial management will bring
value to our stakeholders and support our companies' ongoing
mission to make Hawai'i better."
Prior to joining HEI, Ito was senior vice president and CFO at
Alexander & Baldwin, Inc. (A&B) (NYSE: ALEX), one of
Hawai'i's leading commercial real estate companies. During his
employment at A&B (2005-2017), his other roles included
director of internal audit, corporate controller and treasurer. Ito
worked in the audit practice at Deloitte & Touche, LLP's
offices in Honolulu and
San Jose, and Deloitte's national
office in San Francisco
(1996-2005).
"I am excited and honored to have this opportunity to expand my
role at HEI," said Ito. "It's an exciting time at our family of
companies. I look forward to continuing my work with Scott and our
entire leadership team, including Shelee
Kimura at Hawaiian Electric and Ann
Teranishi at ASB, and continuing to contribute to the
financial stability, growth and success of the company."
Ito holds a bachelor of business administration from University
of Hawai'i at Manoa and a master
in professional accounting degree with a concentration in
managerial accounting from University of Texas
in Austin. Ito is a certified public accountant (not in
public practice).
About HEI
The Hawaiian Electric Industries, Inc. (HEI) (NYSE: HE) family
of companies provides the energy and financial services that
empower much of the economic and community activity of Hawaiʻi.
HEI's electric utility, Hawaiian Electric, supplies power to
approximately 95% of Hawaiʻi's population and is undertaking an
ambitious effort to decarbonize its operations and the broader
state economy. Its banking subsidiary, American Savings Bank, is
one of Hawaiʻi's largest financial institutions, providing a
wide array of banking and other financial services and working to
advance economic growth, affordability and financial fitness. HEI
helps advance Hawaiʻi's sustainability goals through investments by
its non-regulated subsidiary, Pacific Current. For more
information, visit www.hei.com.
For media inquiries, please contact:
AJ Halagao
Vice President,
Corporate & Community Advancement
(808) 543-7625
ajhalagao@hei.com
Julie Smolinski
Vice
President,
Investor Relations & Corporate Sustainability
(808) 543-7300
ir@hei.com
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SOURCE Hawaiian Electric Industries, Inc.