American Electric Power (AEP) named Stephan T. Haynes senior vice president of strategic initiatives and chief risk officer effective Aug. 3. Haynes, 54, was promoted from vice president of strategic initiatives and chief risk officer, a position he has held since January 2008. Haynes will continue to report to Brian Tierney, executive vice president and chief financial officer.
Haynes is responsible for all risk management functions and also for strategic analysis for new business opportunities. He also serves on the board of managers for the Transource and PATH Transmission joint ventures and previously served as treasurer of the PATH, Electric Transmission Texas and Electric Transmission America joint ventures.
"Steve and his team have done an incredible job identifying, analyzing and developing mitigation strategies for risk events that could impact AEP. He also has helped the company evaluate strategic opportunities to grow our business and to move our transmission joint ventures forward," Tierney said.
From May 2004 through December 2007, Haynes was assistant treasurer for AEP with responsibilities for cash management, market risk activities, trusts and investments, and the planning and execution of AEP's corporate financing programs, including debt and equity instruments and banking relationships.
Haynes also has served as vice president of market risk oversight, managing director of risk oversight, managing director of corporate finance; manager of corporate finance, and held other positions in investor relations and information systems. He began his career at AEP in 1984 as a programmer in the information systems department.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to nearly 5.4 million customers in 11 states.