American Electric Power (Nasdaq: AEP) today announced the appointment of Charles E. Zebula as executive vice president and chief financial officer, effective immediately. Zebula previously served as AEP's executive vice president, Portfolio Optimization. He succeeds Ann P. Kelly, who is departing the company.
"Chuck's deep understanding of our business, including his execution of large-scale strategic initiatives and the financial expertise he brings as AEP's former Treasurer, will be critical to our success as we continue to de-risk our portfolio and navigate changing market conditions," said Julie Sloat, AEP chair, president and chief executive officer. "His experience and collaborative leadership approach ensure our team is well-positioned to meet the unprecedented challenges facing our industry, actively manage our business and meet our stakeholder commitments."
Sloat continued, "I would like to thank Ann for her contributions to the company, and we wish her well in her future endeavors."
"I am honored to have the opportunity to lead AEP's finance organization," Zebula said. "I look forward to working closely with Julie and the rest of the executive leadership team to capture the opportunities in front of us and advance our next chapter of growth in this evolving economic and regulatory environment."
AEP today also reaffirmed its 2023 operating earnings guidance range of $5.19 to $5.39 per share, long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15%.