November 04, 2020
AEP Names Wells Vice President, Sales, Economic and Business Development
COLUMBUS, Ohio, Nov. 4, 2020 - American Electric Power (Nasdaq: AEP) has promoted Timothy J. Wells to vice president, Sales, Economic and Business Development, effective Nov. 2, 2020. Wells replaces Mark James who retired last month.
Wells, 55, will lead AEP’s efforts to attract new commercial and industrial customers to its service territory and help existing customers take advantage of AEP’s growing menu of business consultation services. AEP has unique expertise in the energy field and has become a trusted energy advisor to many of its larger customers. Wells will be responsible for leading growth in services that fall outside of the distribution and transmission of electricity, in addition to helping communities bring new jobs to their local economies.
Since joining AEP in 1990, Wells has served in a number of roles focusing on economic development. Most recently, he led economic development activities for AEP Ohio where he helped establish AEP and AEP Ohio as a preferred utility partner with the burgeoning data center and technology sector. Wells earned a bachelor’s degree from Ohio Wesleyan University, a master’s degree from Miami (Ohio) University and an MBA from the University of Notre Dame, Mendoza College of Business. He also is a Certified Economic Developer by the International Economic Development Council (IEDC).
Wells reports to Thomas Kirkpatrick, senior vice president and chief customer officer.
"Our ability to help the communities we serve attract new businesses and to use our expertise in the energy field to help current business customers become more efficient is a critical part of AEP’s strategy. Tim has demonstrated an ability to work with our customers, communities and partners to make this happen. His unique experience and determination will be an asset as he leads our economic development team,” Kirkpatrick said.
The Economic Development team Wells leads includes two realigned roles that will focus efforts in the company’s eastern and western operations.
Ashley Savieo will serve as director, Economic & Business Development, focusing on AEP's eastern territory. Savieo most recently co-led the customer attraction and growth efforts for Indiana Michigan Power. She has 15 years of experience in economic development in northeast Indiana and led teams that secured a $14 million investment from Italy-based INOX Market Services in Muncie, Indiana, and a $30 million Amazon Delivery Station in Fort Wayne, Indiana. Immediately prior to joining AEP, Savieo served as the Marketing Communications Manager for VOSS Automotive’s North American business. Savieo is a graduate of Purdue University and earned the Certified Economic Developer.
Janet Smith will serve as director, Economic & Business Development, focusing on AEP's western territory. Smith currently works with Public Service Company of Oklahoma (PSO) customers and communities on business development and retention. With more than 30 years in the economic development arena, Smith has helped attract many large employers to PSO’s territory. Most recently, she helped attract a $360 million manufacturing facility to the Inola River/Rail Site, in addition to working with companies expanding their operations in PSO’s territory. She is a Certified Community Economic Developer by the IEDC. Smith, an Arkansas native, graduated from Arkansas State University.
American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP’s approximately 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 5,300 megawatts of renewable energy. AEP’s family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com
AEP Economic Development Announcement
Other News Releases
September 22, 2023Read more
August 21, 2023
AEP Board Elects Sloat Chair, Names Stoddard Board Member
The Board of Directors of American Electric Power has elected Julie Sloat chair of the Board, effective Oct. 2. Sloat is AEP’s president and chief executive officer. In addition, Daniel G. "Dan" Stoddard, retired senior vice president, chief nuclear officer and president of Contracted Assets for Dominion Energy, has been elected to the Board.
August 16, 2023
AEP Completes Sale of Unregulated Renewables Assets
American Electric Power has completed the sale of its 1,365-megawatt (MW) unregulated, contracted renewables portfolio to IRG Acquisition Holdings, a partnership owned by Invenergy, CDPQ and funds managed by Blackstone Infrastructure, at an enterprise value of $1.5 billion including project debt. AEP nets approximately $1.2 billion in cash after taxes, transaction fees and other customary adjustments.