WEC News & Events

The board of directors of WEC Energy Group announced that consistent with the company's guidelines, Gale Klappa will not be standing for election and will retire from the board following the annual meeting in May. Klappa served as non-executive chairman of WEC Energy Group after retiring as chief executive officer in May 2016. In October 2017, Klappa resumed the role of chairman and chief executive officer to provide leadership and continuity following a medical issue that sidelined his successor. He returned to the non-executive chairman role in May 2024. Klappa intends to remain engaged in economic development matters following his retirement from the board of directors. The board also voted to bestow on Klappa the honorary title ChairmanEmeritus, effective after the company's annual meeting, in recognition of his exemplary leadership and decades of dedicated service to both the board and the company. The board plans to appoint ScottLauber, president and chief executive officer, to the additional role of chairman following the company's annual meeting, subject to his election by stockholders in the annual director election. Lauber has served as president and chief executive officer of WECEnergyGroup and as a member of the board of directors since February2022.

The board of directors of WEC Energy declared a quarterly cash dividend of 95.25c per share on the company's common stock, an increase of 6.7% over the current quarterly dividend of 89.25c per share. This raises the annual dividend rate to $3.81 per share. The higher dividend is payable March 1 to stockholders of record on Feb. 13.