Milwaukee-based WEC Energy Group announced a series of leadership changes Thursday, including the promotion of chief financial officer Scott Lauber to COO and the hiring of Xia Liu from Houston-based CenterPoint Energy, to be the new CFO for WEC Energy Group.
“As we focus today on health, safety, and providing essential service to our customers through this (coronavirus) pandemic, we also continue to plan for the next chapter of the company’s growth and development,” said Gale Klappa, executive chairman of WEC Energy Group. “The appointments we’re announcing today will bring additional depth and experience to an already strong team.”
Lauber’s move from CFO to chief operating officer will give him senior oversight for power generation, WEC infrastructure and fuels, information technology, supply chain, supplier diversity, and major projects. He also will be named president of Michigan Gas Utilities and Minnesota Energy Resources.
Lauber will have a base salary of $800,000, up from $624,904 in 2019.
Liu will replace Lauber as CFO and will have a base salary of $710,000. She held the same title at CenterPoint, a public utility holding company with subsidiaries providing electric and natural gas service in parts of the South and Midwest.
The changes will take effect on June 1.
WEC Energy Group also said an effective retirement date for Rick Kuester, senior executive vice president, is yet to be determined. The company said Kuester would continue in a consulting role after his retirement, advising on capital investment plans and enterprise risk mitigation.
Scott Lauber[/caption]
"As we focus today on health, safety, and providing essential service to our customers through this (coronavirus) pandemic, we also continue to plan for the next chapter of the company's growth and development," said Gale Klappa, executive chairman of WEC Energy Group. "The appointments we're announcing today will bring additional depth and experience to an already strong team.”
Lauber’s move from CFO to chief operating officer will give him senior oversight for power generation, WEC infrastructure and fuels, information technology, supply chain, supplier diversity, and major projects. He also will be named president of Michigan Gas Utilities and Minnesota Energy Resources.
Lauber will have a base salary of $800,000, up from $624,904 in 2019.
[caption id="attachment_501624" align="alignleft" width="125"]
Xia Liu[/caption]
Liu will replace Lauber as CFO and will have a base salary of $710,000. She held the same title at CenterPoint, a public utility holding company with subsidiaries providing electric and natural gas service in parts of the South and Midwest.
The changes will take effect on June 1.
WEC Energy Group also said an effective retirement date for Rick Kuester, senior executive vice president, is yet to be determined. The company said Kuester would continue in a consulting role after his retirement, advising on capital investment plans and enterprise risk mitigation.