Pinnacle West Capital Corp. (NYSE: PNW) has announced the addition of three new members to its board of directors, increasing the number of directors from nine to 12, with 11 being independent members. The new appointees, Ronald Butler Jr., Carol S. Eicher, and Susan T. Flanagan, bring diverse experience and financial acumen to the board.
Ronald Butler Jr., a managing partner at a "big 4" public accounting firm, has over 32 years of diverse management and executive leadership experience. He will be joining the board's audit and finance committees, leveraging his thorough understanding of financial and strategic planning, operational effectiveness, and digital transformation.
Carol S. Eicher, a seasoned executive with over 30 years of experience in global manufacturing, operations, and mergers and acquisitions, will also be joining the audit and nuclear & operating committees. She has held senior leadership positions at companies such as The Dow Chemical Company and E.I. DuPont de Nemours and Company, Inc., bringing extensive board experience at publicly traded companies and a track record of driving transformation across large and complex organizations.
Susan T. Flanagan, an executive with a broad and accomplished career spanning various sectors, including regulated utilities, energy and renewables, finance and capital markets, and portfolio management, will be joining the board's audit and finance committees. She is an experienced senior executive and subject matter expert in the energy and renewables space, having held various senior roles at General Electric, Ernst & Young, and Apollo Global Management.
Pinnacle West Chairman, President, and CEO Jeff Guldner expressed the company's pleasure in adding the extraordinary expertise of these three accomplished leaders to the board, emphasizing the valuable perspectives and guidance they will provide to the company's strategy and operations in a rapidly evolving energy landscape.
Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of nearly $25 billion, about 6,500 megawatts of generating capacity, and approximately 6,100 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to approximately 1.4 million Arizona homes and businesses. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $75.49. For more information, read the company's full 8-K submission here.
