WEC Energy Group (WEC, Financial) has announced a strategic expansion of its Board of Directors, increasing the number of directors from 12 to 14. This decision, part of the company's ongoing director succession planning process, was made on October 17, 2024. The newly appointed directors, Warner Baxter and John Lange, will officially join the board on January 1, 2025.
Warner Baxter brings a wealth of experience from his 28-year career at Ameren Corp., a company serving electric and natural gas customers in Illinois and Missouri. Baxter retired as executive chairman of Ameren in November 2023, having previously held roles as chairman, president, and CEO from 2014 to 2021. His extensive background also includes positions as president of Ameren Missouri, executive vice president and chief financial officer, and vice president and controller.
John Lange, who retired as global head of the Energy and Industrials Groups for Barclays PLC in April 2024, also joins the board. Lange's career in investment banking spans over 28 years, during which he served on the Investment Banking Management Committee at Barclays. Prior to his tenure at Barclays, Lange led the Global Power M&A Group at Lehman Brothers.
While Baxter and Lange have not yet been appointed to any specific board committees, they will be compensated according to WEC Energy's standard compensation program for non-employee directors. This program is detailed in the company's Proxy Statement filed with the Securities and Exchange Commission on March 28, 2024.
The addition of Baxter and Lange is expected to enhance the board's expertise and strategic oversight, aligning with WEC Energy Group's commitment to strong governance and leadership in the energy sector.
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