COLUMBUS, Ohio, July 30, 2004 (PRNewswire-FirstCall) — Lionel L. Nowell III, senior vice president and treasurer of PepsiCo Inc., has been elected to American Electric Power’s board of directors, according to Michael G. Morris, AEP’s chairman, president and chief executive officer.
With the election of Nowell, AEP’s board now consists of 12 members, 11 of whom are outside directors. Morris is the only inside director.
“Lionel Nowell has an extensive financial background with experience in corporate strategy and business development, credentials that are valuable to a corporate board,” Morris said. “We’re very pleased that he has agreed to join our board of directors.”
Nowell became senior vice president and treasurer of PepsiCo in August 2001 and is responsible for the PepsiCo’s worldwide corporate treasury function, including worldwide financial activities, capital markets strategies, foreign exchange, cash forecasting and planning. Previously, he was chief financial officer of the Pepsi Bottling Group and, prior to that, he was PepsiCo’s controller.
Nowell joined PepsiCo from RJR Nabisco, Inc., where he was senior vice president, Strategy and Business Development. Prior to that, Nowell was with Diageo PLC, where he became chief financial officer of Diageo’s Pillsbury North America, Pillsbury Foodservice and Haagen Dazs units.
Nowell holds an undergraduate degree in Business Administration from The Ohio State University and is a Certified Public Accountant.
Nowell is on the board of directors for PepsiAmericas and Church & Dwight Co., Inc. He is a member of the Dean’s Advisory Board at The Ohio State University Fisher College of Business. He is also an active member of the Executive Leadership Council, Financial Executive Institute, American Institute of Certified Public Accountants and the Ohio Society of CPAs.
American Electric Power owns more than 36,000 megawatts of generating capacity in the United States and is the nation’s largest electricity generator. AEP is also one of the largest electric utilities in the United States, with more than 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.