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CEO Awards
Most Respect CEOs
In collaboration with the
International Institute of Management
Hall of Fame
CEO Profile
Mike Morris - CEO of American Electric
Power (AEP)
The Motivation CEO
Company Profile
Industry: Electric Power
Generation
Employees: 21,670
Revenues: $13.6B
Market Cap: $17B
CEO Achievements
AEP has endured the economic downturn without cutting
employment. The CEO adopted hiring and salary freezes and
spending restrictions. The company also drew on its lines of
credit before the credit markets tightened and in April 2009,
completed an equity offering of 69 million shares with net
proceeds of $1.64 billion – the largest equity offering in
history for the U.S. regulated electric utility industry.
AEP has been a national leader in voluntarily reducing
carbon emissions and advocating for a legislative solution to
the climate change issue. The company installed the world’s
first integrated carbon dioxide capture and storage system at a
power plant and has been awarded $334 million in federal
stimulus funding to help bring this technology to full
commercial scale.
Leadership Style
"One of Mike's hallmark leadership best practices is the
respectful way that he treats employees throughout the organization.
He puts in a tremendous amount of time responding to employee
e-mails and letters, visiting and talking to employees throughout
our 11 states, and using online blogs and face-to-face presentations
to communicate. Mike seeks out feedback from employees, answers
difficult questions honestly and transparently, and creates
deliberate opportunities for employees to feel comfortable sharing
their thoughts, frustrations and recommendations. Mike also has the
ability to set a compelling vision and energize employees around it.
He takes on high profile, industry-leading initiatives that create
pride within the company and makes decisions in a timely manner." -
Gen Tuchow, VP HR - AEP
CEO Bio
Michael G. Morris, age 63, director since 2004. Elected
president and chief executive officer of AEP in January 2004;
chairman of the board in February 2004; and chairman, president and
chief executive officer of all of its major subsidiaries in January
2004. A director of certain subsidiaries of AEP with one or more
classes of publicly held preferred stock or debt securities and
other subsidiaries of AEP. A director of Alcoa Inc. and The Hartford
Financial Services Group, Inc. Mr. Morris was formerly a director of
Cincinnati Bell, Inc. (2005-2008).
CEO Insights
"I learned early in my career that managing through motivation
and encouragement is the strongest way to get things done. I believe
in listening to the diverse views of employees, respecting and
valuing their unique ideas, and giving them the tools to do their
jobs and be successful. It’s important that we prepare our internal
talent for the next level of leadership, so we have set up a
targeted development program and perform succession planning
throughout the organization. I also rotate members of my executive
team into different assignments every 18 months to broaden their
experience. Our company has a strong focus on building relationships
with all of our stakeholders, including employees, customers,
regulators, policy makers, and organizations that don’t agree with
us on certain issues. We have become more agile by listening,
learning and partnering with others to meet our challenges." - Mike
Morris, CEO of American Electric Power (AEP)
I'm trying to get to a comprehensive, system
approach - Mike Morris, CEO of American Electric Power (AEP)
We must move forward and address the current
inadequacies of our nation's existing transmission infrastructure. -
Mike Morris, CEO of American Electric Power (AEP)
This transaction is significant because it
completes the divestiture of assets ... that did not align with our
strong domestic utility operations. The divestitures leave us with
an improved balance sheet and a strategic focus on our core utility
business. - Mike Morris, CEO of American Electric Power (AEP)
The energy industry is ready for renewables, but it faces four
significant hurdles to succeed.. the first challenge is the location
of renewables relative to their peak consumption... The second
challenge is the intermittent nature of wind and solar power... The
third challenge is the price.. And the fourth challenge is The
regulatory maze lengthens that tangles up project development. -
Mike Morris, CEO of American Electric Power (AEP)
About AEP
American Electric Power is one of the largest electric
utilities in the United States, delivering electricity to more than
5.2 million customers in 11 states. AEP ranks among the nation’s
largest generators of electricity, owning nearly 38,000 megawatts of
generating capacity. AEP also owns the nation’s largest electricity
transmission system, a nearly 39,000-mile network that includes more
765-kilovolt extra-high voltage transmission lines than all other
U.S. transmission systems combined.
More about CEO Awards
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