Indianapolis Power & Light Co. is cutting 100 jobs in Indiana and getting a new president and CEO under a corporate restructuring by parent AES Corp.
The utility announced the moves Feb. 5.
Craig Jackson will assume the role of president and CEO of both IPL and sister company Dayton Power & Light. Both are subsidiaries of AES, based in Arlington, Virginia. The announcement did not say where Jackson would be based. He was formerly a senior vice president based in Dayton, Ohio.
The announcement made no mention of Rafael Sanchez, who will leave the company. Sanchez, a former business attorney at law firm Bingham Greenebaum Doll, became president and CEO of IPL in June 2016, foliowint! a four-month apprenticeship as senior vice president of strategic planning.
It's unclear what other jobs will be affected by the restructuring, or where they are located, but reductions will take place by the second quarter, the company said.
Ken Zagzebski will assume the role of executive chairman of IPL and its holding company, IPALCO, as well as for the Dayton operations. He will also be IPL's interim CEO until Jackson assumes the role, AES said.
IPL is under pressure to build business and increase revenue. Its service territory is limited to about 500 square miles in Indianapolis and surrounding areas, and demand for electricity has been slipping·
Copyright IBJ Corporation Feb 9-Feb 15, 2018, source Trade Publications