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AMERICAN ELECTRIC POWER COMPANY, INC.

(AEP)
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AMERICAN ELECTRIC POWER : AEP NAMES ULRICH SENIOR VICE PRESIDENT AND CHIEF HUMAN RESOURCES OFFICER

07/29/2021 | 10:58am EDT

COLUMBUS - American Electric Power (Nasdaq: AEP) has named Phillip Ulrich senior vice president and chief human resources officer, effective Aug. 2.

Ulrich will have responsibility for aligning human resources functions, processes and company culture in support of AEP's overall business strategy. In this role, he will have oversight of employee relations, leadership and organizational development, diversity, equity and inclusion, benefits and compensation, operations, wellness and productivity for AEP's 16,800 employees. He will report to Nicholas K. Akins, AEP's chairman, president and chief executive officer.

'Phil brings decades of experience guiding human resources operations for large companies and implementing effective diversity, equity and inclusion strategies,' said Akins. 'As we transition to the energy company of the future, AEP is focused on attracting, developing and retaining top talent while building an inclusive and engaging work culture that encourages innovation and collaboration. Phil's skills and leadership will be instrumental as AEP continues our workforce transformation, and we welcome him to the team.'

Ulrich has more than 26 years of experience in human resources and most recently served as chief human resources officer at Flex, LTD, a global manufacturing company with more than 170,000 employees in 30 countries. Prior to his role with Flex, he worked for Eaton, a power management company, and held multiple roles of increasing responsibility including senior vice president, Human Resources, Electrical Sector. Prior to Eaton, Ulrich held leadership roles with Cooper Industries, which was acquired by Eaton in 2012, and Honeywell International Inc.

Ulrich received a bachelor's degree in psychology from Presbyterian College and a master's degree in industrial/organization psychology from Clemson University.

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 16,800 employees operate and maintain the nation's largest electricity transmission system and more than 223,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,600 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieving net zero by 2050. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide.

Contact:

Sarah Devine

Tel: 614 716-2011

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 16 379 M - -
Net income 2021 2 341 M - -
Net Debt 2021 36 877 M - -
P/E ratio 2021 17,5x
Yield 2021 3,64%
Capitalization 41 046 M 41 046 M -
EV / Sales 2021 4,76x
EV / Sales 2022 4,69x
Nbr of Employees 16 787
Free-Float 96,1%
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Number of Analysts 19
Last Close Price 82,05 $
Average target price 97,59 $
Spread / Average Target 18,9%
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Managers and Directors
Nicholas K. Akins Chairman, President & Chief Executive Officer
Julia A. Sloat Chief Financial Officer & Executive Vice President
Greg Filipkowski Vice President-Information Technology
Therace M. Risch EVP, Chief Information & Technology Officer
Lisa M. Barton Chief Operating Officer & Executive Vice President
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