ALLETE Chief Financial Officer Mark Schober Announces Retirement Plans

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ALLETE Chief Financial Officer Mark Schober Announces Retirement Plans

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. today announced the planned retirement of Chief Financial Officer Mark Schober. As part of an orderly transition, Schober will remain at the company until mid-year 2014.

"Mark has left an indelible mark on both the financial health and corporate culture of this company through his leadership, integrity and strategic positioning," said ALLETE Chairman, President and CEO Alan R. Hodnik.


Schober joined ALLETE in 1978. He was named Director of Internal Audit in 1989 and Company Controller in 1993, before being named Senior Vice President and Chief Financial Officer in 2006.

"Mark played a key role in the company's successful diversification strategies of the 1980s and the 1990s, and ALLETE's growth strategy of today, which includes renewable, transmission and retrofit investments to meet a changing energy landscape," said Hodnik. "We appreciate his significant contributions during a distinguished 35-year career with the company and wish him the very best."

Schober is a graduate of the University of Minnesota-Duluth with a degree in Accounting. He also earned a Master's Degree in Business Administration at UMD and is a Certified Public Account and a Certified Management Accountant.

Schober says he is confident about ALLETE's future and its tremendous growth opportunities through renewables, transmission investments and talented people.

"To have a career like this in Duluth, Minnesota and to meet people from all over the country . . . the variety of opportunities I've experienced has been amazing," Schober said. "It's been quite a ride." Schober's planned transition is part of an orderly succession plan.

"I look forward to working with members of the senior team and the Audit Committee and Board of Directors, along with Mark, to identify new leadership prior to mid-year 2014," said Hodnik.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. ALLETE's energy businesses include Minnesota Power, Superior Water, Light & Power Co., BNI Coal, and ALLETE Clean Energy. More information about the company is available at www.allete.com.

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.



ALLETE, Inc.
InvestorContact:
Tim Thorp, 218-723-3953
tthorp@allete.com

KEYWORDS:   United States  North America  Minnesota

INDUSTRY KEYWORDS:

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