COLUMBUS, Ohio, April 24, 2003 - American Electric Power (NYSE: AEP) has named Geoffrey S. Chatas senior vice president - finance and elected him treasurer. He succeeds Armando A. Peña, who has been named to a new position as senior vice president - financial policy.
Chatas will be responsible for all corporate finance functions; treasury operations, including cash management; employee benefits fund management and investor relations. He was previously AEP’s vice president - finance, a position he has held since June 2000. He served as managing director - corporate finance from June 1998 to June 2000 and managing director - project finance from September 1997 to June 1998. Chatas joined AEP in 1997. He worked previously at Bank One Capital, where he was vice president of the Housing and Health Care Finance Group. He also has held several positions with Citibank in London and New York, including the Power Finance Group and the Global Aviation Finance Group.
Chatas received a master’s degree in business administration in 1990 from INSEAD, an international business school in France, a master’s degree in history in 1988 from Oxford University in the United Kingdom and a bachelor’s degree in economics and history in 1985 from Georgetown University in Washington, DC.
“Geoff has proven his financial management skills during the last two years as vice president - finance and played a key role in the actions we’ve taken during the last two months to strengthen our balance sheet and improve our liquidity. I have every confidence that he will successfully continue executing our plan to solidify our financial position,” said Susan Tomasky, executive vice president - policy, finance and strategic planning and chief financial officer.
In a related change, Peña has been named to a new position, senior vice president - financial policy. Peña will focus on investor relations activities and matters of overall financial policy for the company. He will remain a vice president and director of most of AEP’s subsidiary companies.
“I’m very pleased that Armando has agreed to defer his retirement plans and remain actively involved in our investor relations activities. It will be beneficial to have his experience and expertise available to focus on specific financial policy issues and projects,” Tomasky said.
An AEP employee for more than 30 years, Peña was named senior vice president - finance of AEP Service Corp. in 1996. He was elected treasurer of AEP and its subsidiary companies, including AEP Service Corp., in 1995. Peña joined the company in 1971 as a controllership staff analyst. He served as assistant to the president in 1979, was elected assistant vice president - banking and security analyst relations in 1982 and was promoted to vice president - finance in 1989.
Peña received a master’s degree in management from the Massachusetts Institute of Technology and a bachelor’s degree in industrial engineering from the University of Miami in Florida. He completed the AEP Management Development Program at the University of Michigan.
American Electric Power owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator in the U.S. AEP is also one of the largest electric utilities in the United States, with almost 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.
Media:Melissa McHenry
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614/716-1120
Analysts: Bette Jo Rozsa
Managing Director, Investor Relations
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