By Patrick O’Grady | Phoenix Business Journal
Donald Brandt, CEO of the state’s largest utility and its parent company, will retire before the end of the year.
Brandt, who has held dual leadership roles at Arizona Public Service Co. and its parent, Pinnacle West Capital Corp. (NYSE: PNW), will step down after 16 years with the company. He will be replaced by current APS President Jeff Guldner.
Brandt is stepping down at a time Pinnacle West is reaping financial success but has repeatedly been dealing with crises including how much the company was spending to influence elections and, most recently, its policies for shutting off power to people not paying their bills in the summer.
Pinnacle West board Lead Director Kathy Munro said the company had worked to prepare a succession plan to keep things at the utility stable.