Press release
Centuri Announces Leadership Transition
Bill Fehrman Will Be Stepping Down to Take CEO Role at American Electric Power Board Appoints Former Centuri Advisory Board Member Paul Caudill as Interim
About this update from American Electric Power Company, Inc.
[{"type":"text","content":"\nBill Fehrman Will Be Stepping Down to Take CEO Role at American Electric Power\n\n\nBoard Appoints Former Centuri Advisory Board Member Paul Caudill as Interim CEO\n\n\n PHOENIX--(BUSINESS WIRE)--\nCenturi Holdings, Inc. (NYSE: CTRI) (“Centuri”), today announced Bill Fehrman will be stepping down as President and CEO to take the CEO role at American Electric Power (Nasdaq: AEP), one of the nation’s largest publicly traded utility companies. He will continue in his role as President and CEO of Centuri until July 31, 2024. The Centuri Board has appointed Paul Caudill, former CEO of NV Energy, a Berkshire Hathaway Energy portfolio company, and Senior Advisor to the CEO and prior Centuri advisory board member, to succeed him as Interim President and CEO. Additionally, Mr. Fehrman will remain on Centuri’s Board of Directors until the Company transitions to a permanent CEO.\n\n\n“With the successful launch as a public company earlier this year, Centuri is well positioned to grow as a standalone world-class utility infrastructure services platform,” said Karen Haller, Chair of Centuri’s Board of Directors. “Over the last decade-plus, our team has delivered long-term growth driven by our unique position in the market, our unwavering focus on safety and prioritizing recurring maintenance work for long-tenured blue-chip customers. At Centuri, the focus remains on driving customer growth at the operating companies. We will continue to execute the strategic plan developed with Bill including optimizing costs, effectively allocating capital and maintaining a balanced approach to growth.”\n\n\nMs. Haller continued, “As a long-time member of the Centuri advisory board and former CEO of NV Energy, a Berkshire Hathaway Energy portfolio company, Paul is uniquely prepared to step in as Interim CEO of Centuri. With more than four decades in the power and energy industry, he brings extensive energy, utility and industrial experience, including many of those years at the same company as Bill. Paul and Bill share the same relentless focus on operational excellence and driving disciplined growth. On behalf of the Board, I thank Bill for his contributions to Centuri as its CEO and wish him the best in his new role.”\n\n\n“It has been an honor to lead and help refine Centuri’s strategy,” said Mr. Fehrman, Centuri’s outgoing President and Chief Executiv...