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PPL CEO William H. Spence to retire in June
Dawn Ouellette Nixon//February 26, 2020//
Listen to this articlePPL Chairman and CEO William H. Spence, will retire June 1, the company announced.
He will remain with the company as the non-executive chairman of PPL’s board of directors.
Current PPL COO Vincent Sorgi has been elected to replace Spence as president and CEO of the Allentown-based utility company.
“Under Bill Spence’s leadership, PPL has transformed itself into one of the nation’s largest investor-owned utility companies and established a proven track record of operational excellence,” said John W. Conway, lead director of PPL’s board, in a statement.
Spence has served as PPL’s top executive since 2011, when he was named president and CEO. He has served as chairman of PPL’s board since 2012.
Conway also said that he is confident that Spence’s replacement, Sorgi, will guide the company well in his new role.
Sorgi, who has over 25 years of utility industry experience, has served as president and COO since July of last year. Prior to that, he served as executive vice president and CFO for PPL Corporation.
“As PPL celebrates 100 years of service and looks to the future, I’m confident that the company will be in good hands,” said Spence, “led by Vince, guided by our experienced management team, supported by more than 12,000 strong in the U.S. and U.K., and poised as ever to make a positive impact on society.”
