Corning Energy Corp. seeks new CEO as German plans to retire
Corning Energy Corporation, formerly Corning Natural Gas Holding Corporations, will have new leadership in 2025.
CEO Michael German will retire at the end of the year after 48 years in the energy sector, the company announced Thursday.
German joined Corning Natural Gas Corporation in 2006 and has been a cornerstone of the company’s growth and resilience, the Corning Energy Corporation said in a press release.
“German’s dedication and vision have left an indelible mark on Corning Energy,” said Joseph Fontana, Chairman of the Board of Directors. “We are deeply grateful for his years of service and leadership. We look forward to celebrating his many accomplishments and his ongoing involvement with the company.”
The Corning Energy Board of Directors has requested that German continue to contribute to Corning Energy as a consultant to the incoming CEO to contribute to a seamless transition and the continuation of the company’s strategic initiatives.
German will also remain on the board of directors. The board has initiated the search for German’s successor and anticipates having the new CEO in place shortly before his retirement to ensure a smooth and effective leadership transition.
German oversaw the founding of the Leatherstocking Gas Company in 2011, the newest utility in Pennsylvania in 40 years. In 2013, Corning Natural Gas Holding Corporation was incorporated as a publicly traded company. In 2016, the company acquired Pike County Light & Power, a Pennsylvania combination gas and electric utility. In 2022, German was a critical part of the merger of the suite of companies into a private investment firm after which the holding company name was changed to Corning Energy Corporation.
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“Mr. German has successfully navigated the companies through dynamic regulatory landscapes while expanding operations using his years of experience and knowledge,” the company said. “His visionary approach and commitment have been instrumental in positioning Corning Energy Corporation as a leader in the utility industry.”
This summer, Corning Natural Gas applied to the state Public Service Commission for the go ahead to implement a four-year plan to increase natural gas delivery rates, citing a variety of factors. The plan calls for those rates to be increased by $5.8 million for each of the four years, representing an increase in customer bills of 13.76% per year.
Corning Energy Corporation operates in New York state and Pennsylvania with three major subsidiaries. Corning Natural Gas Corporation serves over 15,000 residential, commercial, and industrial customers in the Southern Tier and Central Regions of New York state. Pike County Light and Power offers both natural gas and electric utility service in Pike County, Pennsylvania to 6,600 customers. Leatherstocking Gas Company provides natural gas utility service in Susquehanna and Bradford Counties in Pennsylvania to 500 customers.
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