Lane elected to WEC Energy Group board of directors

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Dec 05, 2019, 14:30 ET

MILWAUKEE, Dec. 5, 2019 /PRNewswire/ -- Tom Lane, vice chairman of Energy Capital Partners, has been elected to the board of directors of WEC Energy Group (NYSE:WEC), effective Jan. 1. The addition of Lane reflects the board's commitment to succession planning as several directors approach retirement age.

Lane was previously a partner at Energy Capital Partners from its inception in 2005 through the end of 2016. Prior to joining the private equity firm, Lane, 62, worked in the Investment Banking Division of Goldman Sachs. As a managing director, he provided senior-level coverage for electric and gas utilities, independent power producers and midstream energy companies throughout the country.

Lane is a graduate of Wheaton College. He received an MBA in Finance from the University of Chicago.

"We're delighted that Tom has agreed to join our board of directors," said Gale Klappa, executive chairman. "His deep understanding of energy markets, experience in creating and executing growth strategies, and broad financial expertise will be of tremendous value as we pursue our long-term objectives."

WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.

The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.

WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 45,000 stockholders of record, 8,000 employees and more than $34 billion of assets.

SOURCE WEC Energy Group