COLUMBUS, OH: American Municipal Power, Inc. (AMP) is pleased to announce that Drew D. Dunagin, CPA, has joined AMP as senior vice president of finance and chief financial officer (CFO).
Dunagin brings more than 20 years of experience in financial roles within the electric industry as well as the financial services industry. Most recently, he has served as chief financial officer and vice president of financial services at New Hampshire Electric Cooperative, the largest member-owned electric cooperative in New England, which provides electric utility services to consumers and businesses in 115 communities in New Hampshire. There, he financed $70 million of debt for start-up broadband entity operations and led the development of business plans and financial viability models to facilitate underwriting, and he oversaw all finance, accounting, planning, rate setting, billing and enterprise risk management departments. His executive experience also includes serving as chief financial officer of Wolverine Power Cooperative in Cadillac, Michigan; vice president of corporate planning at Guggenheim Insurance Services in Indianapolis, Indiana; and he served in the positions of vice president of finance and accounting, and director of finance and accounting at a nationwide energy risk-management company in Carmel, Indiana.
“I’m pleased to welcome Drew to the AMP team. We conducted a national search to fill this integral role as part of the transition to the planned retirement of Marcy Steckman in early 2023,” said Jolene Thompson, AMP President and CEO. “Drew brings strong financial experience in the electric sector, as well as proven leadership in executive roles. We’re looking forward to working with him and are confident that his knowledge and expertise will benefit AMP and our members. I also want to thank Marcy for all that she contributed to AMP during her 9 years working in and leading our finance team.”
In his role at AMP, Dunagin will serve as a strategic partner to the president and CEO and will be part of AMP’s executive leadership team. AMP’s senior vice president of finance and CFO is accountable for the financial operations of the organization and directs all aspects of the finance, accounting, treasury, budgeting and energy settlement functions of the organization.
“I have spent most of my career serving membership-based organizations in the utility industry, and I am happy to be part of the AMP team and use my experience to lead AMP’s finance team,” Dunagin said. “AMP has an exceptional reputation in public power, and the organization serves a critical role for our member communities. I look forward to strategic collaboration with AMP’s members as the industry continues to face evolving challenges.”
Dunagin began his career working as a senior auditor at the international Big Four public accounting firms of KPMG LLP and Deloitte & Touche LLP. He holds a Bachelor of Science in accounting and finance from the Indiana University Kelley School of Business and is a Certified Public Accountant.
Dunagin will replace Marcy Steckman, who joined AMP in 2013 and has served as senior vice president of finance and CFO since July 2016. She will be retiring in early 2023.
Steckman will continue in an advisory role for AMP for a period of time post retirement to support the transition.