Attached files
| file | filename |
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| 8-K - CEO RETIREMENT ANNOUNCEMENT - BOARD NAMES REPLACEMENT - ALLETE INC | shippar_andhodnik.htm |
 NEWS
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Exhibit
99
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For
Release:
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February
8, 2010
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Contact:
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Amy
Rutledge
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Communications
Manager
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218-723-7400
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218-348-2961
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arutledge@mnpower.com
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Investor
Contact:
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Tim
Thorp
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218-723-3953
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tthorp@allete.com
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ALLETE
CEO Don Shippar announces retirement;
Alan
R. Hodnik named successor
Duluth,
Minn. — ALLETE, Inc. (NYSE:ALE) announced today that after 33 years with the
company, ALLETE Chairman and Chief Executive Officer Don Shippar will retire
effective April 30, 2010. The company’s board of directors today selected Alan
R. Hodnik, current president of ALLETE, to succeed Shippar as the company’s CEO,
effective May 1, 2010. Shippar will continue as chairman of ALLETE’s
board of directors.
Shippar’s
retirement culminates a successful career highlighted by key accomplishments and
strong leadership. As CEO, Shippar oversaw an aggressive utility
capital investment program that supported significant emission reduction
projects at Minnesota Power’s generation centers in northeastern Minnesota along
with renewable wind projects in North Dakota and Minnesota. Shippar
also led the successful acquisition of a strategic direct current interstate
transmission line to transport additional wind energy to the region and a
significant investment in the American Transmission Company (ATC).
Hodnik,
50, brings 28 years of utility experience to his new role as ALLETE CEO. A
graduate of the University of Minnesota, Hodnik joined Minnesota Power in 1982
and moved up in the ranks to take on leadership positions within the company,
including Leader of ALLETE’s Organizational Development Team, Vice President of
Generation Operations and Senior Vice President of Minnesota Power
Operations.
In 2007,
Hodnik was named Minnesota Power’s Chief Operating Officer and led transmission,
distribution, generation and engineering for all aspects of the company as well
as for Superior Water Light and Power and BNI Coal. He was promoted to ALLETE
President and elected to the board of directors in May of 2009. Hodnik serves on
the Lignite Energy Council and the Edison Electric Institute’s Energy Supply
Advisory Committee. He also serves on the Boards of Directors of SMDC Health
System and the Area Partnership for Economic Expansion (APEX). A native of
Aurora, Minn., Hodnik served as its mayor from 1988 to 1997. He has been a
member of state and regional task forces throughout his career while maintaining
strong working relationships with business, organized labor, political and
education leaders in northeastern Minnesota.
“Don has
been an exemplary leader,” said Bruce Stender, lead director of the ALLETE
board. “His forward
looking strategic vision and creation of a senior leadership development program
has set the stage for continued success and growth for ALLETE. The board has
been actively engaged in succession planning and has worked closely with Don
over the past 18 months to ensure a seamless leadership transition. Al’s utility
experience and expertise in operational, organizational and strategic planning
make him a natural choice as successor to the position.”
Shippar,
60, began his career with ALLETE’s regulated utility, Minnesota Power, in 1976
in the Telecommunications Department. During the next 20 years he held
increasingly responsible leadership roles in Human Resources and Transmission
& Distribution before being appointed Chief Operating Officer of Minnesota
Power in 2000.
In 2002,
his role expanded to that of Minnesota Power President and COO. In 2004, Shippar
was named President and CEO of ALLETE and became chairman of the board in
2006.
Shippar
has been actively involved in professional organizations serving leadership
roles in the Edison Electric Institute, the Association of Edison’s Illuminating
Companies and the Lignite Energy Council. His civic involvement
includes the Minnesota Power Foundation, St. Luke’s Foundation, and the College
of St. Scholastica Board of Trustees, the University of Wisconsin-Superior
Foundation and United Way.
“Over the
past 30 years I’ve seen the electric industry undergo a dynamic transformation
and witnessed major milestones in our own company’s history, including the
celebration of Minnesota Power’s centennial,” Shippar said. “I’m proud of the
contributions I’ve been a part of representing our company within our
communities, region and industry. I’m proud of our employees and their
commitment to meeting challenges and adapting to a new energy landscape. I have
had the privilege to work with a dedicated management team as well as a talented
and very supportive board of directors.”
“ALLETE,
its stakeholders and our industry have benefited enormously from Don Shippar’s
vision, values and principle-centered leadership style,” said Hodnik. “While he
will be greatly missed, he leaves a considerable legacy and an organization
prepared for future growth and committed to delivering successful
results.”
“ALLETE
has a rich history, a long-standing commitment to excellence and long-term
growth prospects. It is truly an honor to work closely with our board of
directors and lead this company into the future,” said Hodnik. “Energy is our
business and through the experience and innovation of our talented employees we
will tap into the opportunities afforded by these transformational times to the
mutual benefit of customers, communities and shareholders.”
“With his
strong leadership style, ability to connect with people, and strategic and
operations expertise, I have every confidence that Al and his management team
will successfully lead this company and continue to deliver long-term value to
our customers and shareholders,” said Shippar.
Shippar
and his wife Pat make their home in Superior, Wisconsin.
Hodnik
and his wife Erika reside in Hermantown, Minnesota.
Based in
Duluth, Minn., ALLETE (NYSE:ALE) provides regulated energy services
in Minnesota and Wisconsin, has an equity investment in the American
Transmission Company, and owns BNI Coal in North Dakota and ALLETE Properties in
Florida. More information about the company is available at
www.allete.com
The
statements contained in this release and statements that ALLETE may make orally
in connection with this release that are not historical facts, are
forward-looking statements. Actual results may differ materially from those
projected in the forward-looking statements. These forward-looking statements
involve risks and uncertainties and investors are directed to the risks
discussed in documents filed by ALLETE with the Securities and Exchange
Commission.
###
This
exhibit has been furnished and shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, except
as shall be expressly set forth by specific reference in such
filing.