The chairman and CEO of OGE Energy Corp. has announced plans to retire.
Pete Delaney announced Thursday during a shareholders meeting that he will step down during the first quarter of 2016.
Continue Reading Below
OGE Energy is the parent company of Oklahoma Gas and Electric.
Delaney's announcement came after shareholders approved the election of OGE Energy President Sean Trauschke to the board of directors. Trauschke has been president of OGE Energy since September and has been president of Oklahoma Gas and Electric since 2013.
Delaney said Trauschke's nomination to the board is a critical step in his succession plan to lead the company.
Delaney has been with OGE Energy since 2002 and has been CEO since 2007. Trauschke joined the company in 2009 as chief financial officer.