IPL and DP&L restructure as part of AES global strategic transformation
February 5, 2018
INDIANAPOLIS, IN and DAYTON, OH — Indianapolis Power & Light Company (IPL) and Dayton Power & Light
(DP&L), both subsidiaries of The AES Corporation (NYSE: AES), today
announced organizational and structural changes which will position both
companies to operate more efficiently and continue to provide safe, reliable
and affordable energy solutions for their customers.
These changes will occur as part of the reorganization announced earlier
today by AES as the next step of its ongoing strategy to simplify its
portfolio, optimize its cost structure, and reduce its carbon intensity.
AES will align their structure and reshape the workforce, resulting in
the reduction of approximately 100 jobs in Indiana and 60 jobs in Ohio by the
second quarter of this year.
As part of the new structure, Craig Jackson
will assume the role of President and Chief Executive Officer for both IPL and
DP&L on March 31. Jackson has served as CFO for IPL and DP&L for the
past five years. In his new role, he will build on our longstanding record of service,
including more than $2 billion in investments IPL and DPL have made in the
region over the past five years.
Ken Zagzebski will assume the role of Executive Chairman of
the Board of IPL and its holding company, IPALCO, as well as for DP&L and
its holding company DPL Inc. He will also
serve as the General Manager for the Southland construction project in
California. Zagzebski joined AES in 2007 and his previous leadership of AES’
United States businesses, including as U.S. Strategic Business Unit President
and President of IPL, will help strengthen and enhance continuity across both
“While these changes are difficult, they will allow us to improve
efficiency and continue modernizing our infrastructure while maintaining affordable
electricity for our customers,” said Zagzebski. “This
transformation will enhance our performance, and support investments in
new energy solutions that will make a positive economic contribution to both Indianapolis
About The AES Corporation
The AES Corporation (NYSE:AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 16 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2016 revenues were $14 billion and we own and manage $36 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.