MGE Energy, Inc. and Madison Gas and Electric Company Elect Independent Directors Effective as of March 1, 2018
October 20, 2017 at 02:26 pm EDT
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On October 20, 2017, the Boards of directors of both MGE Energy, Inc. and Madison Gas and Electric Company (MGE) elected Marcia M. Anderson and James G. Berbee as members of both boards of directors, effective as of March 1, 2018. Ms. Anderson will be a Class II Director whose term will expire at the annual meeting of shareholders in 2018. Mr. Berbee will be a Class I Director whose term will expire at the annual meeting of shareholders in 2020. Both Ms. Anderson and Mr. Berbee have been determined by MGE Energy's Board of Directors to be independent directors under the independence guidelines adopted by the NASDAQ Stock Market, Inc. Both will become members of the Audit Committee and the Corporate Governance Committee of the MGE Energy Board of Directors. Ms. Anderson is currently the clerk of court of the Bankruptcy Court for the Western District of Wisconsin. Ms. Anderson retired from the Army in May 2016 with a rank of Major General. In addition to her legal and military experience, she worked for General Public Utilities Corporation early in her career. Ms. Anderson currently serves on the board of directors for the Green Bay Packers. Mr. Berbee was the Chairman and CEO of Berbee Information Networks Corporation, which provided information technology support for large businesses. Mr. Berbee currently works part time as an emergency department physician. Mr. Berbee is also vice-chair of the Wisconsin Alumni Research Foundation and holds several patents.
MGE Energy, Inc. is a public utility holding company. The Company's segments include Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations, and Transmission investments. The Regulated electric utility operations segment is engaged in generating, purchasing, and distributing electricity through Madison Gas and Electric Company (MGE). The Regulated gas utility operations segment is engaged in purchasing and distributing natural gas through MGE. The Nonregulated energy operations segment owns and leases electric generating capacity that assists MGE through MGE Energy's wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus. The Transmission investments segment includes the investment in American Transmission Company LLC, which is engaged in the business of providing electric transmission services in Wisconsin, and ATC Holdco LLC, which facilitate out-of-state electric transmission development and investments.