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Wisconsin Energy Names EVP Allen Leverett President

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Energy company, Wisconsin Energy Corporation(WEC: Quote), Friday said it named the executive vice president and head of the company's power generation group, Allen Leverett as the President, effective August 1. Leverett will succeed Gale Klappa who will continue to be the chairman of the board and chief executive officer. Leverett donned the role of president and chief executive officer of We Generation in March 2011, and now bears the overall responsibility for Wisconsin Energy's electric generation portfolio, fuel procurement, environmental compliance and the company's strategy for renewable energy development. Leverett joined Winsconsin as the chief financial officer, and was later named executive vice president and chief financial officer of Wisconsin Energy and We Energies. Prior to that, he worked for Georgia Power Co., Southern Company Services and also his career spanned across transmission planning, integrated resource planning, strategic planning, wholesale marketing and finance.

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After moving sharply lower in early trading on Wednesday, stocks have seen continued weakness over the course of the trading session. Will the pullback, the major averages are adding to the modest losses posted in the two previous sessions. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August. Growth in U.S. manufacturing activity saw a notable slowdown in the month of September, according to a report released by the Institute for Supply Management on Wednesday, with the index of activity in the sector pulling back off a three-year high.
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