MGE Energy (MGEE) Names New CEO

October 19, 2016 12:10 PM EDT

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Madison Gas and Electric (MGE) and MGE Energy, Inc. (NASDAQ: MGEE) announced that effective March 1, 2017, Gary Wolter will retire as President and CEO of MGE Energy and its subsidiary, Madison Gas and Electric Co. Jeffrey Keebler will assume the roles of President and CEO at that time. Wolter will continue as Chairman of the Board of both companies.

Keebler also was appointed to the Boards of Directors of both companies effective March 1, 2017. The announcement reflects the Company's succession planning and thoughtful transition in executive leadership. The Company remains committed to its mission as a community energy company.

Wolter took over as President and CEO of both MGE and MGE Energy in February 2000 and took over as Chair in February 2002. Upon his retirement, Wolter will be the longest serving Chair and CEO in Company history. "It has been an honor to serve our community over the years and work with such dedicated and capable coworkers. I am grateful for this opportunity," Wolter said.

Keebler started with MGE in 1995. He has a Bachelor of Science Degree in Finance and Economics from the University of Wisconsin-La Crosse and a Master of Business Administration from the University of Wisconsin-Whitewater. He has held various leadership positions at MGE in Energy Supply, Rates, Generation Planning, Information Technology, Customer Service and Human Resources. He is currently MGE's Senior Vice President - Energy Supply and Planning. "I look forward to building on the foundation laid by my predecessors and addressing the challenges of the future," Keebler said.

Jeffrey Newman, Senior Vice President, Chief Financial Officer, Secretary and Treasurer, will take on an expanded role. Gregory Bollom, Assistant Vice President - Energy Planning, and John Jicha, Director - Energy Supply and Trading, will report to Newman.

Craig Fenrick, Senior Vice President - Energy Operations, also will take on additional responsibilities. Joseph DePoorter, Director - NERC Compliance and Generation Operations, will report to Fenrick.



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