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ALLETE CFO to Retire Next Year

Duluth, Minn.-based ALLETE (NYSE: ALE  ) will be getting a new CFO.

On Monday, ALLETE announced that Chief Financial Officer Mark Schober intends to retire sometime toward the middle of next year. A 35-year veteran of the firm, Schober has served as CFO since 2006. In a statement, Chief Executive Officer Alan R. Hodnik credited Schober with playing "a key role in the company's successful diversification strategies of the 1980s and the 1990s, and ALLETE's Growth strategy of today, which includes renewable, transmission and retrofit investments to meet a changing energy landscape."

No replacement has yet been named. ALLETE says it will be looking to "identify new leadership prior to mid-year 2014," and that Schober will be staying on through mid-next year in order to facilitate "an orderly transition."


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