Avista Corp. (NYSE: AVA) has announced some significant changes in its leadership structure. CEO Dennis Vermillion will retire in the first quarter of 2025, and Heather Rosentrater has been appointed as the new CEO effective January 1, 2025. Rosentrater, who joined Avista in 1996, has held various leadership roles within the company and became President and COO on October 1, 2023.
Vermillion, a Spokane native and a Washington State University graduate, has been with Avista since 1985 and has served in various senior leadership roles, including President of Avista Corp. and President of Avista Utilities.
During Vermillion's leadership, Avista successfully navigated through the challenges of the COVID-19 pandemic, supply chain disruptions, and inflation pressures. He also directed the company through an increasingly complex regulatory climate and the ongoing transition to clean energy.
In terms of financial performance, Avista Utilities serves 418,000 electric customers and 382,000 natural gas customers across a service territory covering 30,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a population of 1.7 million. The company's Alaska subsidiary provides retail electric service to 18,000 customers in Juneau.
As Avista celebrates its 135th anniversary this year, the company looks to the future under the leadership of its first female CEO, Heather Rosentrater, with a focus on clean energy goals, financial results, and community engagement.
The transition in leadership marks a significant milestone in Avista's history, as Rosentrater takes the helm to lead the company into the next chapter of its growth and success. Today the company's shares have moved 0.5% to a price of $39.1. If you want to know more, read the company's complete 8-K report here.
