ALLETE, Inc. (ALE) CFO Steve DeVinck to Retire

September 26, 2016 4:08 PM EDT

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ALLETE (NYSE: ALE) today announced the planned retirement of Chief Financial Officer Steve DeVinck. As part of a planned orderly transition, DeVinck will remain at the company until spring 2017.

DeVinck joined ALLETE in 1997 after fourteen years with the U.S. operations of Enbridge, Inc. where he held the position of chief accountant and various other leadership roles in accounting and tax. He was promoted to assistant controller in 1999, named director, non-utility business development in 2004, and served as ALLETE controller from 2006 to 2013 before assuming the CFO role.

“Steve has been an invaluable champion of our company through an exciting time of energy industry transformation,” said ALLETE Chairman, President and CEO Al Hodnik. “Steve has demonstrated keen financial leadership and the highest standards of integrity and ethics while executing ALLETE’s energy-centric growth strategy of transmission, renewable energy and customer-focused sustainable solutions. We appreciate Steve’s many contributions during his distinguished 20-year career and wish him the very best in the future.”

Hodnik added DeVinck played a key role in the creation of ALLETE subsidiary ALLETE Clean Energy and the 2015 acquisition of U.S. Water, an integrated water-solutions company, as well as his involvement in the largest equity offering in company history in 2014.

“ALLETE has a strong talent pipeline. I look forward to collaborating with Steve and our senior leadership team during this planned transition as we identify new leadership in the CFO role from within the company,” Hodnik said.

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