Pinnacle West Capital Corporation (PWCC) has announced the retirement of Bill Post as its chairman and chief executive officer (CEO), effective April 30, 2009. Post will remain as a member of the board. PWCC has elected Don Brandt as chairman and CEO, succeeding Post in those capacities, effective April 30, 2009. It also said that Don Robinson, the company’s current senior vice president (SVP) of planning and administration, will become the president and chief operating officer (COO) of APS.
Post served for about 38 years with PWCC.
Currently, Brandt is the PWCC and APS president and APS CEO. Brandt will continue to serve as president of PWCC and CEO of APS, the operating company.
Speaking on behalf of the Pinnacle West board, lead Director Kathy Munro said they had worked to develop an orderly succession plan in the executive office for some time.
“The board greatly respects the important contributions that Bill Post has made to the company and to the community. Of course we regret seeing him depart. However, we respect Bill’s plans and have complete confidence that the new management team will take the company successfully into the next decade.”
“I have total confidence that Don Brandt, and his team will successfully navigate what will be a dynamic and new energy environment for APS, Arizona and the country,” Post said. “It will be an exciting and challenging time for the electric industry and this team is prepared to succeed for customers and shareholders.”
Prior to joining APS in 2002, Brandt served as SVP and chief financial officer (CFO) at Ameren Corporation, a St. Louis-based energy services company. After initially taking the position of CFO for Pinnacle West and APS, Brandt was promoted to president of APS in 2007. In March of last year, he added the titles of APS CEO and PWCC president and COO.
“Without question, we face a dynamic and rapidly changing energy future,” Brandt commented. “We remain dedicated to our communities, customers, employees and standards of energy reliability. These core priorities will, as under Bill Post, continue to shape the way we manage our business going forward.”
Executive vice president and chief nuclear officer Randy Edington will continue to report to Brandt, while all other operational areas will report to newly appointed President Don Robinson.
Robinson joined APS in 1978. He previously held the title of SVP of planning and administration, where he developed major planning strategies, and the company’s future energy resource plans. He also had responsibility for the oversight of risk management, budgeting and forecasting.