AEP Names Joseph Sauvage to Board of Directors

Rhea-AI Summary

American Electric Power (AEP) has elected Joseph G. Sauvage to its Board of Directors. Sauvage brings extensive experience as the former vice chairman and chairman of Global Power, Utilities and Renewables at Citigroup, where he led the practice for over 16 years.

Prior to Citigroup, Sauvage held key positions at Lehman Brothers, including vice chairman and global head of Power, Utilities and Renewables. His background includes service on the Wall Street Advisory Group and the Electric Power Research Institute Advisory Council.

AEP Board Chairman Sara Martinez Tucker highlighted Sauvage's deep industry understanding and market dynamics expertise. CEO Bill Fehrman emphasized his strategic and financial expertise will support AEP's investments in modern energy systems and load growth initiatives.

The announcement also noted that Donna James has stepped down from the Board for personal reasons.

Positive

• Strategic addition of Joseph Sauvage brings extensive power, utilities, and renewables expertise from leadership roles at Citigroup and Lehman Brothers
• Board strengthening aligns with company's focus on capital investment and load growth opportunities
• New director brings valuable insight into complex capital raises and market dynamics

Negative

• Loss of board member Donna James reduces board diversity and institutional knowledge

News Market Reaction

+1.35%

1 alert

+1.35% News Effect

On the day this news was published, AEP gained 1.35%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

COLUMBUS, Ohio, April 29, 2025 /PRNewswire/ -- Joseph G. Sauvage, retired vice chairman and chairman of Global Power, Utilities and Renewables of Citigroup, today was elected to the American Electric Power (Nasdaq: AEP) Board of Directors.

Sauvage led Citigroup's Global Power, Utilities and Renewables practice for more than 16 years. Prior to joining Citigroup, he held various investment banking roles at Lehman Brothers, including vice chairman and global head of Power, Utilities and Renewables. Sauvage served as a vice chairman of the Wall Street Advisory Group and was a member of the executive committee for the Electric Power Research Institute Advisory Council.

"AEP strives to achieve a mix of directors with skills and experience that align with the company's long-term strategy," said Sara Martinez Tucker, chairman of the AEP Board of Directors. "Joe's deep understanding of the opportunities facing our industry, as well as his insight into complex capital raises and market dynamics, will bring a valuable perspective to the Board."

"Joe's strategic and financial expertise will be helpful as we invest in a reliable, modern energy system to serve our customers and support once-in-a-generation load growth," said AEP President and Chief Executive Officer Bill Fehrman. "We are grateful to have Joe on the Board and welcome his guidance."

Donna James did not stand for re-election to the Board of Directors for personal reasons.

"We thank Donna for her leadership and contributions to the company and wish her all the best moving forward," Tucker said.

About AEP

Our team at American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We are investing $54 billion from 2025 through 2029 to enhance service for customers and support the growing energy needs of our communities. Our nearly 16,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and 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. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.

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SOURCE American Electric Power

FAQ

Who is Joseph Sauvage joining AEP's Board of Directors in 2025?

Joseph Sauvage, former vice chairman of Citigroup's Global Power, Utilities and Renewables practice, joined AEP's Board of Directors on April 29, 2025. He brings extensive experience in investment banking and power sector expertise.

What experience does Joseph Sauvage bring to AEP's Board?

Sauvage brings over 16 years of leadership experience from Citigroup's Global Power, Utilities and Renewables practice, plus investment banking expertise from Lehman Brothers. He also served on the Electric Power Research Institute Advisory Council.

Why did AEP add Joseph Sauvage to their Board in 2025?

AEP added Sauvage for his strategic and financial expertise to help guide investments in modernizing their energy system and managing load growth. His understanding of industry opportunities and capital markets adds valuable perspective to the Board.

Which AEP Board member did Joseph Sauvage replace in 2025?

Sauvage's election coincided with Donna James not seeking re-election to the AEP Board for personal reasons.

How will Joseph Sauvage's appointment impact AEP's strategy?

According to AEP's CEO, Sauvage's strategic and financial expertise will support AEP's investments in reliable, modern energy systems and help manage significant load growth opportunities.