Summary
American Electric Power Company, Inc. (AEP) filed an 8-K on December 4, 2019, reporting the retirement of director Lionel L. Nowell, III, who will not seek re-election at the 2020 annual shareholder meeting. Mr. Nowell's departure is amicable and not a result of any disagreements with the company. This filing also details upcoming leadership changes within key board committees. Effective January 1, 2020, David J. Anderson will assume the role of Chairman of the Audit Committee, succeeding Mr. Nowell. Additionally, Art A. Garcia will become the Chairman of the Finance Committee, replacing Mr. Anderson in that position. These committee transitions are being implemented to facilitate a smooth handover following Mr. Nowell's retirement from the Board.
Key Highlights
- 1Director Lionel L. Nowell, III is retiring and will not stand for re-election in 2020.
- 2Mr. Nowell's departure is not due to any disagreements with AEP.
- 3David J. Anderson appointed as the new Chairman of the Audit Committee, effective January 1, 2020.
- 4Art A. Garcia appointed as the new Chairman of the Finance Committee, effective January 1, 2020.
- 5These changes are part of a planned transition for Mr. Nowell's retirement.
- 6The filing is a standard disclosure under Item 5.02 regarding director and officer changes.