What is the significance of Ms. Goodspeed's appointment to the board committees?

Ms. Goodspeed's appointments to the Audit Committee, Nuclear Oversight Committee, and Policy Committee indicate her expected contributions to critical areas such as financial reporting integrity, oversight of nuclear operations, and strategic decision-making for AEP.

Is Ms. Goodspeed considered an independent director?

Yes, the Board of Directors has determined that Ms. Goodspeed is an independent director, meeting the company's Corporate Governance guidelines, New York Stock Exchange independence requirements, and applicable SEC rules.

Will Ms. Goodspeed receive special compensation for her directorship?

No, as a non-employee director, Ms. Goodspeed will receive the same compensation as other non-employee directors, in accordance with policies previously approved by the Board and disclosed in AEP's March 14, 2005 Proxy Statement.

AEP 8-K: Leadership Changes

Q: Who is Linda A. Goodspeed and what is her background?

Linda A. Goodspeed is 43 years old and serves as the Executive Vice President and Chief Technology Officer for Lennox International Inc. She also sits on the board of directors for Columbus McKinnon Corporation.

Summary

This Form 8-K filing by American Electric Power Company, Inc. (AEP) on October 26, 2005, primarily announces a significant governance change: the election of Linda A. Goodspeed to the company's Board of Directors. Ms. Goodspeed, who is 43 years old and serves as Executive Vice President and Chief Technology Officer for Lennox International Inc., brings external expertise to AEP's board. Her appointment is effective immediately and her term will extend until the 2006 annual shareholder meeting. Notably, Ms. Goodspeed has been appointed to key board committees, including the Audit Committee, the Nuclear Oversight Committee, and the Policy Committee, suggesting her contributions will be focused on financial oversight, risk management, and strategic direction. The company has confirmed her independence status according to NYSE and SEC guidelines, ensuring objective governance.

Key Highlights

1AEP elected Linda A. Goodspeed as a new director to its Board of Directors on October 26, 2005.
2Ms. Goodspeed's term as director will continue until the 2006 annual shareholder meeting.
3She has been appointed to the Audit Committee, Nuclear Oversight Committee, and Policy Committee.
4Ms. Goodspeed is currently Executive Vice President and Chief Technology Officer at Lennox International Inc.
5The company has determined Ms. Goodspeed meets the independence requirements of the NYSE and SEC.
6As a non-employee director, Ms. Goodspeed will receive standard compensation for independent directors, as previously disclosed.

AMERICAN ELECTRIC POWER CO INC 8-K Report, Executive Changes (Oct 26, 2005)

Summary

Key Highlights

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