8-KOther Events

AMERICAN ELECTRIC POWER CO INC 8-K Report (Dec 17, 2003)

Filed December 17, 2003For Securities:AEP

Summary

This 8-K filing announces a significant leadership transition at American Electric Power Co., Inc. (AEP). Effective January 1, 2004, Michael G. Morris will assume the roles of President and Chief Executive Officer, succeeding E. Linn Draper Jr. Morris will further transition into the Chairman role upon Draper's retirement, expected by April 27, 2004. Morris brings extensive experience from his previous role as Chairman, President, and CEO of Northeast Utilities System. The appointment of Morris signals a strategic focus on strengthening the company's utility operations and balance sheet, with an eye towards future growth and success. Investors can anticipate a new strategic direction under Morris's leadership, building on AEP's existing strengths. The company has also scheduled conference calls for analysts and media to discuss this transition further, offering an opportunity for direct engagement with the incoming CEO.

Key Highlights

  • 1Michael G. Morris elected President and CEO of AEP, effective January 1, 2004.
  • 2Morris will also become Chairman of the Board upon E. Linn Draper Jr.'s retirement, expected by April 27, 2004.
  • 3Morris joins AEP from Northeast Utilities System, where he held the top leadership positions.
  • 4The Board expressed confidence in Morris's leadership to continue focus on utility operations and strengthen the balance sheet.
  • 5The transition follows E. Linn Draper Jr.'s announced retirement in April 2003.
  • 6AEP has scheduled conference calls for analysts and media to discuss the leadership change.

Frequently Asked Questions

Michael G. Morris has been elected as the new President and Chief Executive Officer of AEP, effective January 1, 2004. He will succeed E. Linn Draper Jr. in these roles.

Michael G. Morris, 57, comes to AEP from Northeast Utilities System, where he has served as Chairman, President, and Chief Executive Officer since 1997. He has a substantial career in the energy industry, including previous leadership roles at Consumers Energy and ANR Pipeline Co.

Michael G. Morris is slated to succeed E. Linn Draper Jr. as AEP's Chairman upon Mr. Draper's retirement, which is expected on or before April 27, 2004, the date of the company's annual shareholder meeting.

The Board of Directors expressed strong confidence in Michael G. Morris, citing his leadership qualities and industry knowledge. They believe he is the ideal candidate to continue AEP's focus on utility operations, strengthen the company's balance sheet, and develop a strategy for future success.