COLUMBUS: American Municipal Power, Inc. (AMP) announced today that its long-time Senior Vice President of Finance and Chief Financial Officer, Robert W. Trippe, has elected to retire from the organization effective July 1, 2016.
Trippe joined AMP as Vice President and CFO in 1991 after serving as CFO of Detroit Edison’s diversified operations for many years. He was with Ernst & Young prior to filling several progressively more responsible positions at Detroit Edison. At AMP, Trippe oversees all accounting, finance, treasury and credit activities, and is a member of the Executive Management Team and Risk Management Committee.
“Bob Trippe has been a vital part of AMP’s management for more than 24 years and he has played an integral role in helping AMP establish itself as a leader in public power. Bob’s guidance has contributed greatly to AMP’s overall “A” category ratings for AMP as an entity and for our numerous project related bond issuances – ratings that save our members hundreds of millions of dollars in interest costs over the lives of those projects,” said AMP President and Chief Executive Officer, Marc S. Gerken, P.E. “Bob also spearheaded AMP’s favorable $750 M credit facility with a consortium of leading banks, its innovative member credit scoring programs and our low-cost “on behalf of” member financing program, among other achievements.”
“Bob’s retirement, while well deserved, was not unexpected. AMP’s Board and I have comprehensive succession plans for that and other senior positions in place. The CFO succession plan included adding a highly experienced Vice President of Finance and Accounting, Marcy Steckman, in 2013. We expect there will be several highly qualified internal and external candidates for Bob’s position,” said Gerken. “While Bob is retiring, we are not exactly letting him get completely away; Bob will be under contract to consult with AMP as needed after his retirement.”
“I have thoroughly enjoyed my many years working with the AMP members, Board and staff and am proud of what we have accomplished together for AMP’s members,” said Trippe. “I have a number of important projects to finish in the next year, including helping with the transition to a new CFO.”
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