Gale Klappa has agreed to stay on as executive chairman of Milwaukee-based WEC Energy Group until May 2024, according to company securities filings.
WEC, the parent company of We Energies, noted in its filing that the company’s board determined Klappa should stay in the role “in recognition of his strong, continued leadership and to ensure the ongoing mentoring of the next generation of leadership of WEC Energy Group, Inc.”
“Gale, your significant industry knowledge and long history in senior strategic roles with WEC will help ensure the company’s future success. We look forward to your continued leadership,” Ulice Payne Jr., chair of the board’s compensation committee, wrote in a letter to Klappa outlining the agreement.
Klappa agreed to take on the role of executive chairman in January 2019, moving him out of the position of chief executive officer and chairman. At the time, Klappa agreed to serve as executive chairman for three years.
The agreement disclosed Thursday would extend his tenure in the role by more than two years from early 2022.
Klappa had served as chairman and CEO of WEC Energy Group and its predecessors from 2004 until May 2016. He then returned to the CEO role in October 2017 after his successor, Allen Leverett, suffered a stroke.
WEC Energy Group eventually developed a new structure by creating an office of the chair that includes Klappa as executive chairman, Kevin Fletcher as CEO and several other executives in roles within the office.