Pinnacle West Capital (PNW) Appoints New Board Members

Pinnacle West Capital Corp. (NYSE: PNW) announced today that its board of directors has elected three new members to the company’s board: Ronald Butler Jr., a “Big 4” public accounting firm managing partner with more than 32 years of diverse management and executive leadership experience; Carol S. Eicher, a seasoned executive who has served in multiple board leadership roles with both public and private equity-backed businesses; and Susan T. Flanagan, an executive with a broad and accomplished career spanning various sectors, including regulated utilities, energy and renewables, finance and capital markets, and portfolio management.

The appointments, effective July 1, increase the number of Pinnacle West directors from nine to 12, of which 11 are independent members. Butler and Flanagan have been appointed to the Board’s Audit and Finance committees. Eicher joins the Audit and the Nuclear & Operating committees.

“We are pleased to add the extraordinary expertise of these three accomplished leaders,” said Pinnacle West Chairman, President and CEO Jeff Guldner. “Ron has a thorough understanding of financial and strategic planning, operational effectiveness and digital transformation. Carol has extensive board experience at publicly traded companies, including driving transformation across large and complex organizations. And, Susan has a rich history of practical expertise in both domestic and international energy markets, including wind, solar, storage, conventional thermal power generation assets and grid infrastructure.

“With their collective experience, we look forward to the valuable perspectives and guidance they will provide to our strategy and operations as we continue to focus on delivering value for our customers and shareholders in a rapidly evolving energy landscape.”

Butler – a trusted advisor to Fortune 500 executives, corporate boards and audit committees across a broad set of industries including mining and metals, technology and consumer products – began his career in 1991 with KPMG in its Phoenix office. In 1995, he joined EY, one of the world’s largest professional services firms, becoming a Partner in 2004 and then being promoted to Managing Partner of the Arizona practice in 2008. Over his career, Butler has advised a diverse group of public and privately held companies ranging from middle-market to large multinational companies. He also serves as EY’s U.S Mining and Metals Leader.

Butler received his Bachelor of Science degree in Accountancy from the University of Arizona and is the recipient of the University of Arizona Eller College Outstanding Alumnus (2024) and the University of Arizona Alumni Association Sidney S. Woods Alumni Service Award (2015). He is a licensed CPA in the State of Arizona and a member of the Arizona Society of CPA’s and the American Institute of Certified Public Accountants.

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