Alliant CEO Pat Kampling to retire; chief operating officer John Larsen to take over in July
Alliant Energy Chairman and CEO Patricia Kampling has announced plans to retire this summer from the utility company she’s led for the past seven years.
The Madison-based company, which owns utilities in Wisconsin and Iowa, announced Wednesday that chief operating officer John Larsen has been appointed to the board of directors and will become CEO and chairman of the board on July 1.
Larsen, 55, joined the company in 1988 as an electrical engineer and has served as an executive since 2004. In December he was named chief operating officer of the parent company and CEO of both subsidiaries.
According to a filing with the Securities and Exchange Commission, Larsen’s base salary will be $900,000 with the potential to earn up to three times that amount in bonuses.
Kampling, 59, joined Alliant in 2005 and took over as chair and CEO in 2012. She plans to reitre on July 1. Kampling’s earned just over $6.5 million in total compensation in 2017, according to Alliant’s most recent filing.
“Pat has been both visionary and pragmatic in her leadership of our company,” Larsen said in a prepared statement. “As we look ahead, our focus remains on our customers and developing new products, services and markets to help them power beyond the challenges of today while powering what’s next in energy solutions.”
Alliant’s subsidiaries serve about 965,000 electric and 415,000 natural gas customers in Iowa and Wisconsin.