ALLETE Announces New Chief Financial Officer: Jeff Scissons
DULUTH, Minn.–(Business Wire)–ALLETE, Inc. (NYSE: ALE) is pleased to announce that Jeff Scissons has been promoted to the position of Chief Financial Officer (CFO), effective immediately. He succeeds Steven W. Morris, who recently announced his plan to retire in July after a distinguished career with the company. Scissons joined ALLETE in 2013 and has held several strategic roles throughout his tenure.
Background of the New CFO
Before being appointed to the position of Vice President and Corporate Treasurer in 2024, Scissons served as the company’s Director of Financial Planning and Analysis and the Director of Investor Relations. In these roles, he played a significant part in ALLETE’s financial strategy and investor communications.
ALLETE’s Succession Plan
ALLETE’s CEO, Al Hodnik, expressed his confidence in Scissons’ ability to lead the company’s finance function. “Jeff has been an integral part of our team for over a decade, and I am confident that his deep understanding of our business and financial strategy will serve us well in this new role,” Hodnik said.
Impact on Shareholders
For shareholders, Scissons’ promotion to CFO may bring reassurance, as he has been an active and knowledgeable presence in ALLETE’s investor relations department. His familiarity with the company’s financials and investor communications will likely prove beneficial in maintaining and strengthening relationships with shareholders.
Impact on the Industry
On a broader scale, Scissons’ promotion is a testament to ALLETE’s commitment to internal development and succession planning. By promoting from within, the company demonstrates its faith in its current talent pool and its dedication to fostering growth from within. This approach can help attract and retain top talent, as it shows that opportunities for advancement exist for those who excel in their roles.
Conclusion
ALLETE’s announcement of Jeff Scissons as its new CFO marks a significant milestone in the company’s leadership development. Scissons’ extensive experience and deep understanding of ALLETE’s financial strategy make him an ideal candidate to lead the company’s finance function. Shareholders and the industry can look forward to the continuity and growth that his promotion brings.
- ALLETE announces new CFO: Jeff Scissons
- Scissons succeeds Steven W. Morris, who is retiring
- Scissons joined ALLETE in 2013; was VP and Corporate Treasurer since 2024
- Impact on shareholders: reassurance, strengthened relationships
- Impact on industry: commitment to internal development, talent retention
