American Electric Power Appoints Charles Zebula As Finance Chief; Reaffirms Guidance

American Electric Power Company Inc AEP has appointed Charles E. Zebula as executive vice president and chief financial officer, effective immediately. 

Zebula previously served as AEP's executive vice president, Portfolio Optimization. He succeeds Ann P. Kelly, who is departing the company.

"Chuck's deep understanding of our business, including his execution of large-scale strategic initiatives and the financial expertise he brings as AEP's former Treasurer, will be critical to our success as we continue to de-risk our portfolio and navigate changing market conditions," said chair, president and CEO Julie Sloat.

The company also reaffirmed its 2023 operating EPS guidance range of $5.19-$5.39 (consensus $5.27), long-term growth rate of 6%-7%, and FFO/Debt target of 14%-15%.

Price Action: AEP shares traded lower by 2.40% at $73.42 on the last check Monday.