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Utility PPL Says COO Spence To Take On President Role

DOW JONES NEWSWIRES PPL Corp. (PPL), an operator of utilities and power plants, named industry veteran and Chief Operating Officer William H. Spence to take on the president post, effectively immediately. Spence, who first joined PPL as COO five years ago, will also continue to serve in his original role. James H. Miller, PPL's president since 2005, will continue to serve as chairman and chief executive, posts he has held since 2006. Miller said Spence has been instrumental in PPL's recent acquisitions of utility operations in Kentucky and England. Because wholesale power prices remain weak due to the low price for natural gas, which is used to generate electricity, PPL and some other merchant generators have been vying to build their utility businesses where returns of investments are guaranteed through regulated rates. Spence joined PPL from Pepco Holdings Inc. (POM), which provides electricity to the mid-Atlantic region. Spence has held a number of executive and engineering positions throughout his career. In May, PPL reported its first-quarter profit jumped 64% on higher prior-year unusual items, while adjusted earnings were stronger than expected as operating margins increased. Shares were recently flat at $28.03. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Ppl (PPL)
DateTimeHeadline
02/04/201615:10:37Statement of Changes in Beneficial Ownership (4)
02/04/201608:34:00PPL Revenue and Profit Fall
02/04/201607:36:51Current Report Filing (8-k)
02/04/201607:00:00PPL Corporation Reports 2015 Earnings
02/03/201612:46:19Current Report Filing (8-k)
01/27/201613:24:15Statement of Changes in Beneficial Ownership (4)
01/27/201613:22:58Statement of Changes in Beneficial Ownership (4)
01/27/201613:21:39Statement of Changes in Beneficial Ownership (4)
01/26/201614:23:31Statement of Changes in Beneficial Ownership (4)
01/26/201614:16:25Statement of Changes in Beneficial Ownership (4)
01/26/201614:16:04Statement of Changes in Beneficial Ownership (4)
01/26/201614:07:54Statement of Changes in Beneficial Ownership (4)
01/26/201614:04:24Statement of Changes in Beneficial Ownership (4)
01/26/201613:59:09Statement of Changes in Beneficial Ownership (4)
01/26/201613:54:25Statement of Changes in Beneficial Ownership (4)
01/26/201613:49:28Statement of Changes in Beneficial Ownership (4)
01/25/201613:44:35Statement of Changes in Beneficial Ownership (4)
01/25/201613:39:39Statement of Changes in Beneficial Ownership (4)
01/25/201613:36:53Statement of Changes in Beneficial Ownership (4)
01/25/201613:32:34Statement of Changes in Beneficial Ownership (4)

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