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AEP > SEC Filings for AEP > Form 8-K on 3-Mar-2014All Recent SEC Filings




Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers

On February 25, 2014, the Board of Directors (the "Board") of American Electric Power Company, Inc. (the "Company") elected J. Barnie Beasley, Jr. to serve as a director of the Company. Mr. Beasley's initial term as a director will continue until the 2014 annual meeting of shareholders. The Board appointed Mr. Beasley to the Audit Committee, the Nuclear Oversight Committee and the Policy Committee.

Mr. Beasley has served as an independent nuclear safety and operations expert to the board of directors of the Tennessee Valley Authority, a large electric utility in the southeastern United States, since 2011. Mr. Beasley was the chairman, president and chief executive officer of Southern Nuclear Operating Company, the nuclear operating company subsidiary of The Southern Company, from 2005 to 2008.

The Board has determined that Mr. Beasley is an "independent" director under the Company's Principles of Corporate Governance and the independence requirements of the New York Stock Exchange, as well as the applicable rules promulgated by the Securities and Exchange Commission.

As a non-employee director, Mr. Beasley will receive the same compensation paid to other non-employee directors of the Company in accordance with the policies and procedures previously approved by the Board for non-employee directors, consisting of an annual cash retainer of $97,000, an annual stock unit award of $145,000, and an annual retainer of $15,000 for serving on the Audit Committee.

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