Gale Klappa to Retire as WEC Energy Group Chairman After Decades of Leadership

Gale Klappa Retires as Chairman of WEC Energy Group

WEC Energy Group, a leading energy provider in the United States, has announced that Gale Klappa will be retiring from his position as chairman and chief executive officer after an impressive tenure. At 75 years old, Klappa's retirement follows the company's annual meeting in May. His departure marks a significant transition for the company, where he has played a critical role in shaping its success over the past two decades.

A Legacy of Leadership

Gale Klappa joined Wisconsin Energy in April 2003 as president, and shortly after, he was elected to the board of directors in December of the same year. His leadership was pivotal when he took on the roles of chairman and CEO in May 2004. Klappa’s tenure is distinguished by several key achievements, including the successful acquisition of Integrys Energy Group in 2015. Following this, he became the chairman of WEC Energy Group, demonstrating his adeptness in guiding the company through significant changes in the energy landscape.

Under his stewardship, WEC Energy Group experienced unparalleled financial success, boasting 23 consecutive years of dividend increases. His vision contributed substantially to consistent earnings growth and a record level of capital investment aimed at enhancing customer reliability. Klappa is recognized not only for his leadership within the company but also as a vital figure in the broader Milwaukee business community.

Economic Development Advocate

Apart from his contributions to WEC Energy Group, Klappa served as co-chair of the Milwaukee 7 (M7), an initiative focused on regional economic development. Since its establishment in 2006, M7 has facilitated billions of dollars in capital investment across the area, ultimately creating thousands of job opportunities. Klappa has expressed his commitment to remaining engaged in economic development efforts Following his retirement from the board, ensuring his influence continues in the community.

Honorary Title

In recognition of his decades of exemplary service, the board of directors will bestow upon Klappa the honorary title of Chairman Emeritus after the company's annual meeting. This title is especially notable as it marks the first such honor in the company’s history, which spans over 125 years. Thomas Lane, the independent lead director, praised Klappa's significant contributions, saying, "Gale's accomplishments over the years have been extraordinary, and his vision has helped position WEC Energy Group and its customers for long-term success."

Transition to New Leadership

As Klappa steps down, the board has plans to appoint Scott Lauber, the current president and CEO, to also take on the role of chairman. Lauber has been a part of the company since 1990, contributing his extensive experience and insight into various leadership positions. This transition represents a continuation of leadership stability within WEC Energy Group.

Conclusion

WEC Energy Group, based in Milwaukee and serving millions of customers across several states, will continue its mission under new leadership while honoring the legacy of Gale Klappa. His dedication and strategic guidance have significantly shaped the company, paving the way for future achievements. As Klappa embarks on his retirement, his lasting impact on both WEC Energy Group and the broader Milwaukee area will be felt for years to come.