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COLUMBUS, Ohio - American Electric Power (NASDAQ:AEP) announced on Tuesday two key leadership appointments to support its long-term strategy. Rob Berntsen will become executive vice president and general counsel effective July 14, while Johannes Eckert will serve as executive vice president and chief information and technology officer starting July 21. The utility giant, currently trading at $101.91, has demonstrated strong dividend reliability with 55 consecutive years of payments and 15 years of consecutive increases, according to InvestingPro data.
Berntsen will succeed David Feinberg, who will remain as senior advisor to the CEO until August 15. Both new executives will report directly to Bill Fehrman, AEP’s president, chief executive officer and director.
Berntsen joins AEP from Xcel Energy, where he served as executive vice president and chief legal and compliance officer. His previous experience includes leadership roles at Berkshire Hathaway Energy subsidiaries, the Midcontinent Independent System Operator, and the Iowa Utilities Commission. He holds a bachelor’s degree from Georgetown University and a law degree from the University of Iowa.
Eckert most recently worked as senior vice president and chief information officer at Cox Communications, where he spent 16 years in various technology leadership positions. His career also includes roles at Acta Wireless, Kearney, AT&T, Telefónica Germany and Accenture.
"Rob is well-suited to navigate these changes with more than two decades of experience in the energy industry," Fehrman said in the press release statement. Regarding Eckert, Fehrman noted his "depth of knowledge in cloud architecture and infrastructure" will help implement solutions to power AEP’s operations.
AEP, headquartered in Columbus, Ohio, operates the nation’s largest electric transmission system and serves 5.6 million customers across 11 states. With a dividend yield of 3.65% and analysts predicting continued profitability, AEP presents an interesting case for income investors. For detailed analysis and additional insights, including 6 key ProTips and comprehensive financial metrics, explore AEP’s full profile on InvestingPro.
In other recent news, American Electric Power (AEP) reported a strong start to 2025 with an earnings per share (EPS) of $1.54, surpassing the forecast of $1.41. However, the company’s revenue for the first quarter was $5.46 billion, falling short of the projected $5.59 billion. AEP has reaffirmed its 2025 operating earnings guidance of $5.75 to $5.95 per share. Meanwhile, AEP Transmission Company, LLC has secured a $425 million senior notes offering, facilitated by PNC Capital Markets LLC, Truist Securities, Inc., and U.S. Bancorp Investments, Inc.
The issuance involves 5.375% Senior Notes, Series R, due in 2035. This financial move was confirmed in a recent SEC filing. Additionally, AEP continues to focus on expanding its infrastructure, including a large transmission system and distribution network, with plans for a $54 billion capital investment over the next five years. The company has also outlined potential for an additional $10 billion in incremental investments. These developments highlight AEP’s strategic initiatives and financial activities aimed at supporting its growth trajectory.
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