, /PRNewswire/ -- The board of directors of (NYSE: WEC) today announced that effective , , age 65, will retire as chief executive officer and become non-executive chairman. As part of the company's leadership succession plan, , age 49, will succeed Klappa as chief executive.

'We delivered a decade of strong growth as we've modernized the energy infrastructure of the region - investing more than since 2003 in our electricity and natural gas networks, Klappa said. 'And with our acquisition of Integrys last year, we've emerged as the leading electric and natural gas utility in the Midwest - known for exceptional reliability, customer satisfaction and financial discipline.'

Upon Klappa's retirement, Leverett will become the company's 14 chief executive. Leverett also has been appointed to the board of directors. He has been serving as president of the company since 2013.

'Allen has been a key contributor to our success - first as chief financial officer, then as the leader of our power generation group and most recently as president of the parent firm,' Klappa said. 'I've known and worked with Allen for more than 20 years. The depth of his experience, his management skills and his focus on execution make him the ideal person to lead our company through a time of continuing change in the energy industry.'

On behalf of the company's board of directors, , chairman of the board's succession planning committee, said, 'We have great confidence in Allen. He is an extremely capable executive who has worked effectively with our board for years as a key member of our senior team.'

Bergstrom added, 'In more than a decade as chief executive, Gale raised the vitality, focus and performance of an enduring American company. He has been an extraordinary leader, and we're delighted that he will continue to help shape our future and the future of the region as non-executive chairman of our board.'

Leverett said, 'I'm honored to be entrusted with the leadership of the company and with the opportunity to build on the strong culture of service and performance that Gale instilled. The company is very well positioned. We have a talented and experienced management team. Our future is bright.'

Klappa joined Wisconsin Energy as president in . He was elected to the company's board of directors in . Prior to joining Wisconsin Energy, he served as executive vice president and chief financial officer of in .

Klappa is a 1972 graduate cum laude of the (UWM), with a bachelor's degree in .

In 2011, Klappa received an honorary Doctor of Commercial Science degree from UWM in recognition of his support for UWM's growth initiative; his leadership in helping to shape the economic future of southeast through the launch of the 7, a regional economic development initiative; and his extensive community involvement.

named Klappa CEO of the Year in - recognizing his role in executing the company's Power the Future plan. In , named Klappa Responsible CEO of the Year.

He was named 2013 Wisconsin Business Leader of the Year by the , and in 2015, he was named to All-America Executive team for the sixth consecutive year.

Leverett joined Wisconsin Energy in 2003 as chief financial officer. In , he was named executive vice president and chief financial officer of Wisconsin Energy and We Energies.

In , Leverett was named president and chief executive officer of We Generation, the company's power generation group, with overall responsibility for the company's electric generation portfolio, fuel procurement, environmental compliance and renewable energy development strategy.

He has served as president of the parent company since , and he is also responsible for the business operations of the company's utilities in , , and Minnesota.

Prior to joining the company, Leverett served as chief financial officer and executive vice president of in .

Leverett earned his bachelor's degree, summa cum laude, in electrical engineering and mathematics from , . He also earned a master's degree in electrical engineering from , , and a Master of Business Administration degree with a finance concentration from , .

Leverett is a director of as well as a director and nonexecutive chairman of He also is a member of the board of trustees for in .

(NYSE: WEC), based in , is one of the nation's premier energy companies, serving 4.4 million customers in , , , and .

The company's principal utilities are We Energies, Wisconsin Public Service, , , , and Minnesota Energy Resources. The company's other major subsidiary, , designs, builds and owns electric generating plants.

(wecenergygroup.com), a component of the 500, has approximately $29 billion of assets, 8,500 employees and 55,000 stockholders of record.

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SOURCE

Brian Manthey (news media), 414-221-4444, brian.manthey@we-energies.com, or Colleen F. Henderson, CFA (investment community), 414-221-2592, colleen.henderson@wecenergygroup.com

Wisconsin Energy Corporation issued this content on 28 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 January 2016 13:52:20 UTC

Original Document: http://phx.corporate-ir.net/phoenix.zhtml?c=114170&p=irol-newsArticle&ID=2133136