After more than two decades at the top of Milwaukee's dominant utility, Gale Klappa is finally stepping away from the WEC Energy Group boardroom, but not exactly riding off into the sunset. The veteran executive will retire from the board after the company's annual meeting in May and become WEC's first chairman emeritus, while current president and CEO Scott Lauber is expected to pick up the chairman title and keep the lights on for investors, as reported by PR Newswire.
Board Signs Off On Exit Plan
The WEC board announced on Jan. 22 that Klappa will not stand for re-election and will retire following the annual meeting, according to a company release via PR Newswire. Directors also voted to award him the honorary title of chairman emeritus after the meeting, a first in the utility's more than 125-year history. "True to form, Gale isn't slowing down," independent lead director Thomas Lane said in the release.
Lauber Lined Up To Take The Gavel
Scott Lauber, who started at WEC back in 1990 and moved into the president and CEO role in 2022, is slated to add the chairman job once shareholders sign off at the annual meeting, as reported by Urban Milwaukee. Board members pointed to Lauber's long climb through the finance and operating ranks as a key reason for the smooth handoff. Inside the company, the move is being cast as continuity, not a course correction from Klappa's playbook.
Two Decades Of Deals And Dividends
Klappa joined Wisconsin Energy as president in 2003, was elected to WEC's board later that year, and by 2004 was serving as both chairman and CEO, according to WEC's 2025 proxy statement. He steered the 2015 acquisition of Integrys Energy Group and has rotated between executive and nonexecutive chair roles in the years since. During his tenure, WEC delivered steady earnings growth and what the company calls "unprecedented capital investment" in its utility infrastructure, a track record that has kept Wall Street largely on his side.
Dividend Bump Hints At Steady Course
On the same day WEC detailed Klappa's planned retirement, the board also approved a 6.7 percent hike to the quarterly cash dividend, to 0.9525 dollars per share, a move investors read as a clear signal that the strategy is not changing, according to MarketScreener. The dividend is payable March 1 to shareholders of record as of Feb. 13.
Deep Milwaukee Roots And A Lasting Stamp
Klappa's reach in Milwaukee extends well beyond utility bills. He co-chairs the regional economic partnership Milwaukee 7, holds a minority stake in the Milwaukee Bucks, and serves on the board of Associated Bank, according to local reporting. Urban Milwaukee also notes the Klappas' philanthropy, including an endowed professorship at UW-Milwaukee. Company leaders say they expect him to stay active in regional economic development even after his formal board role ends.
What Comes Next For WEC
The board says Lauber's appointment as chairman will become official once stockholders vote at the annual meeting in May, and Klappa's chairman emeritus title will take effect right after, according to the company release via PR Newswire. Investors and civic leaders will be watching to see whether the leadership shuffle changes anything about WEC's long-term capital plans or its role in regional initiatives, or if Milwaukee's power structure simply keeps humming along under new letterhead.
