US Utility AEP Ousts Its CEO Weeks After Icahn Board Deal
- Icahn’s involvement is latest foray into US utilities
- Ohio-based AEP has 5.6 million customers in 11 states
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Just weeks after billionaire activist investor Carl Icahn secured two seats on the board of American Electric Power Co., the utility fired its chief executive officer whose tenure lasted less than 14 months.
Julie Sloat, who became CEO in January 2023, will be replaced on an interim basis by Benjamin G.S. Fowke III, a member of the company’s board and the former chairman and CEO of Xcel Energy Inc., AEP said Monday. Sloat was among the few women at the head of a major US utility.