ALLETE Senior Vice President & Chief Financial Officer Steven W. Morris to Retire Mid-Year as Part of a Planned Transition
“Steve has been an integral member of the ALLETE team during his long career. His ethical, strategic, steady and consistent leadership is a strong reflection of how we do business here at ALLETE,” said CEO Bethany Owen. “Steve has always worked to position this company for sustainable success with a commitment to our customers, investors and our employees, and he has been an integral part of executing ALLETE’s strategic goals. His ability to engage with all stakeholders, from investors to customers to employees and to lead across multiple functions of the company is a rare combination, and we are grateful to Steve for his many contributions to ALLETE.”
“The ALLETE team is world-class, and this company is destined to achieve even greater success. I am fortunate to have been closely involved in the development and continued execution of the most exciting strategy in company history,”
Prior to joining ALLETE,
A graduate of the University of Minnesota Duluth,
Owen said Morris’ planned retirement is part of an orderly succession plan, and that she has initiated steps to identify a new chief financial officer and expects to do so later in the first quarter.
As previously announced, under the terms of the merger agreement CPP Investments and GIP will acquire all outstanding common shares of ALLETE for
About ALLETE, Inc.
ALLETE, Inc. is an energy company headquartered in
ALLETE calculates and reports carbon emissions based on the GHG Protocol. Details are in ALLETE’s Corporate Sustainability Report.
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This communication contains “forward-looking statements” within the meaning of the federal securities laws, including safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed acquisition of ALLETE, regulatory approvals, the expected timetable for completing the proposed transaction and any other statements regarding ALLETE’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: the timing to consummate the proposed transaction; the risk that the conditions to closing of the proposed transaction may not be satisfied; the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; and the diversion of management’s time on transaction-related issues.
When used in this communication, or any other documents, words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “target,” “could,” “goal,” “intend,” “objective,” “plan,” “project,” “seek,” “strategy,” “target,” “may,” “will” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the beliefs and assumptions of management at the time that these statements were prepared and are inherently uncertain. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties, as well as other risks and uncertainties that could cause ALLETE’s actual results to differ materially from those expressed in the forward looking statements, are described in greater detail under the heading “Item 1A. Risk Factors” in ALLETE’s Form 10-Q for the quarter ended September 30, 2024, ALLETE’s Form 10-K for the year ended December 31, 2023 and in subsequently filed Forms 10-Q and 8-K, and in any other SEC filings made by ALLETE. Management cautions against putting undue reliance on forward-looking statements or projecting any future results based on such statements or present or prior earnings levels. Forward-looking statements speak only as of the date hereof, and ALLETE does not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.
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Media Contact:
Amy
Director, Corporate Communications
218-723-7400
arutledge@allete.com
Source: ALLETE, Inc.