Wisconsin Energy Announces New Executive Assignments

Changes are part of long-term leadership development plan

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Feb 16, 2011, 04:15 ET

MILWAUKEE, Feb. 16, 2011/PRNewswire/ -- Wisconsin Energy Corporation (NYSE: WEC) Chairman, President and Chief Executive Gale Klappa today announced new assignments for two members of the company's senior management team.

Allen Leverett, 44, currently the company's chief financial officer, will become president and chief executive officer of We Generation. He will continue to serve as an executive vice president of Wisconsin Energy. Leverett will have overall responsibility for Wisconsin Energy's electric generation portfolio, fuel procurement, environmental compliance and the company's strategy for renewable energy development.

Frederick (Rick) Kuester, 60, currently president and chief executive officer of We Generation, will become chief financial officer of Wisconsin Energy. He will continue to serve as an executive vice president of Wisconsin Energy. Kuester will have overall responsibility for the company's strategic and financial planning functions. He will oversee the treasury, accounting, tax, insurance and risk management functions, as well as the company's investor relations work.

"These assignments are part of our continuing plan for leadership development and for broadening the experience of our management team," said Klappa. "Allen and Rick are recognized as two of the most effective leaders in our industry. They bring depth, insight and an extensive track record of achievement to their new roles."

The assignments will be effective March 1.

Leverett joined Wisconsin Energy in 2003 as chief financial officer. Prior to joining the company, he served as chief financial officer and executive vice president of Georgia Power, a Southern Company subsidiary.

Earlier in his career with the Southern Company system, Leverett worked in system planning and held a variety of positions in transmission planning, integrated resource planning, strategic planning, wholesale marketing and finance. He earned his bachelor's degree summa cum laude in electrical engineering and mathematics from Vanderbilt University. He also earned a master's degree in electrical engineering from Stanford University and a Master of Business Administration degree with a finance concentration from Auburn University.

Kuester joined Wisconsin Energy in 2003 as president and chief executive officer of We Generation. Prior to joining the company, Kuester was senior vice president – international of Mirant Corporation and chief executive officer of Mirant Asia-Pacific Limited in Hong Kong. Earlier in his career, he was vice president – investor relations in Southern Company's New York office. During the early 1990s, Kuester served as vice president – power generation and delivery for Mississippi Power. Kuester holds a bachelor's degree in mechanical engineering from Auburn University and a Master of Business Administration degree from Samford University.

Wisconsin Energy Corporation, based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 1 million natural gas customers in Wisconsin. The company's principal utility is We Energies. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.

Wisconsin Energy Corporation (www.wisconsinenergy.com), a component of the S&P 500, has more than $13 billion of assets, approximately 4,700 employees and approximately 43,600 stockholders of record.

Links to photos below:

Allen Leverett photo

(Photo: http://photos.prnewswire.com/prnh/20110216/CG49617-a)

Frederick (Rick) Kuester photo

(Photo: http://photos.prnewswire.com/prnh/20110216/CG49617-b)

SOURCE Wisconsin Energy Corporation