Gale Klappa, the longtime leader of We Energies parent company
WEC Energy Group, will move to a new role on the company’s board when his current agreement ends in May.
Klappa has been executive chairman of the company since February 2019. When his current agreement ends in May, the board has asked him to move to the role of non-executive chairman and Klappa has agreed, subject to shareholder approval.
“As we’ve discussed over the past several months, the board greatly appreciates the exceptional leadership you provide to our company and our industry,”
Ulice Payne Jr., chair of the WEC board’s compensation committee, wrote in a letter to Klappa. “We look forward to extending our long and productive relationship."
"I appreciate the board's continuing confidence and look forward to supporting our strong management team and adding value in my new role," Klappa said in a statement.
This will mark the second time Klappa has transitioned to the non-executive chair role.
Klappa led the company as chairman and CEO from 2004 to May 2016, at which point he
stepped down as CEO and then company president Allen Leverett took over as CEO with Klappa staying on as board chair.
However, Leverett
suffered a stroke in October 2017 and Klappa returned to day-to-day leadership, first as interim CEO and then in a more permanent capacity.
In February 2019, Klappa again stepped aside as CEO, moving to the executive chairman role with Kevin Fletcher taking over as CEO. Initially, Klappa agreed to
stay in the executive chairman role for three years, but in October 2020, his agreement was extended
through May 2024.
Fletcher stepped away from the CEO role in early 2022 and retired later that year.
Scott Lauber currently serves as the company’s CEO.
"Gale has delivered consistent and meaningful results for our employees, customers and shareholders over the past 20 years," Lauber said in a statement. "We've learned a great deal from him, and I look forward to the bright future ahead of us."
