SCOTTSDALE, Ariz., Jan. 6, 2016 /PRNewswire-USNewswire/ -- Edison International Chairman, President and CEO Theodore "Ted" F. Craver, Jr., today was awarded the Edison Electric Institute's (EEI's) Distinguished Leadership Award by his industry peers for his years of significant contributions and commitment to the electric power industry.
"Ted is a visionary leader for our industry, and it is a privilege to present this award to him," said EEI President Tom Kuhn. "Ted is always ready and willing to serve the broader industry, and he has been unwavering in his efforts to help focus the EEI membership in critical areas. His steady and determined leadership style truly has helped guide our industry as it undergoes a major transformation."
The award, established to recognize outstanding individual achievement, was presented during EEI's winter CEO and board of directors meeting. Craver is the eighth industry CEO to receive the award.
Craver was elected president of Edison International in April 2008, and chairman and CEO in August 2008. He also served as chairman, president and CEO of Edison Mission Group from 2005 to 2008. Additionally, he served as executive vice president of Edison International, and as chief financial officer and treasurer from 2000 through 2004. Craver served as EEI chairman from June 2014 to June 2015, and is currently a member of EEI's leadership serving on the executive committee.
"I have seen firsthand the tremendous leadership role that Ted plays, not just in California, but also nationally. He is a major force in driving our industry to the future with a keen eye on the need to provide reliable and affordable energy every day to all of our customers," said PG&E Corporation Chairman, CEO and President Tony Earley. "On a personal note, Ted is a great friend who helped me transition into California and serves as a role model of integrity and dedication. He is absolutely deserving of this distinction." Earley received EEI's Distinguished Leadership Award in 2014.
"Ted has been a passionate and tireless advocate for our industry, and his leadership has made a lasting impact," said Dominion Chairman, President and CEO Tom Farrell. "He is a leader of the highest character and is always willing to step up and tackle the challenging issues we face today." Farrell received EEI's Distinguished Leadership Award in 2013.
Among his many accomplishments, Ted steadily led EEI during the Environmental Protection Agency's development of the Clean Power Plan, the most far-reaching regulation ever promulgated by the federal government to impact the electric power sector. Ted also helped to shape key dialogues with policy makers, regulators and other key stakeholders about the development and deployment of new technologies on the electric grid for the benefit of customers.
"This is a very busy and challenging time for our industry, and Ted's leadership has helped to drive the consensus needed for us to succeed as an industry," said EEI Chairman Nick Akins, Chairman, President and CEO of American Electric Power. "We are grateful to Ted for his hard work and service as past chairman of EEI and for his continued involvement in our organization."
Before joining Edison in 1996, Craver served as executive vice president and corporate treasurer of First Interstate Bancorp and held positions of increasing responsibility in capital markets, sales and trading, and corporate development throughout his 23 years in the banking industry.
Craver was named 2014 Large Utility CEO of the Year by Electric Light & Power magazine. He serves on several Boards, including Health Net, Inc., The Nature Conservancy, Autry National Center, the Smithsonian National Museum of American History, and is past-chairman of the Electric Power Research Institute and of the Edison Electric Institute. He is a member of the Business Roundtable and the Economic Advisory Council of the Federal Reserve Bank's Twelfth District.
Craver earned an MBA and a bachelor's degree in economics and international relations from the University of Southern California.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia, and directly employ more than 500,000 workers. EEI has 70 international electric companies as Affiliate Members, and 270 industry suppliers and related organizations as Associate Members.
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SOURCE Edison Electric Institute