Bill Cherrier Named CEO at Central Iowa Power Cooperative
DATE: October 9, 2017
DES MOINES – Central Iowa Power Cooperative (CIPCO) announces Bill Cherrier as Executive Vice President & CEO, beginning today. Cherrier has 35 years of experience in the utility industry, most recently as Chief Planning and Finance Officer at Colorado Springs Utilities.
“Electric utilities are challenged by ongoing changes in technology, regulation, and the economy almost daily, making this a very dynamic industry,” stated CIPCO Board President Paul Heineman. “The Board selected Bill Cherrier as CEO for his diverse background in the utility industry and his ability to lead our cooperative through a rapidly evolving energy landscape.”
CIPCO is a member-owned, not-for-profit electric generation and transmission cooperative serving 13 rural electric cooperatives and associations in Iowa. CIPCO currently employs approximately 100 people at offices in Des Moines, Cedar Rapids, Wilton, and Creston. Cherrier is based in the Des Moines office.
“CIPCO remains committed to meeting the power needs of our member cooperatives with reliable and affordable electricity well into the future,” added Bill Cherrier. “Our members benefit from one of the most balanced and diverse electric generation mixes in the Midwest with over 60 percent coming from carbon-free and emissions-free resources, including the recent addition of utility-scale solar generation. Resource diversity is an important strategy for managing risk, stabilizing rates, and providing flexibility for the future.”
While at Colorado Springs Utilities, Cherrier led the acquisition of a 480 MW combined cycle gas power plant and was part of the executive team leading a $1 billion water supply project. He led financing of $2.5 billion in tax exempt debt, corporate bonds and equity financing. He also created the Office of Economic Development and was the key executive in regional economic development. Prior positions included Manager of Finance and Development at Alliant Energy Generation, and General Manager, Generation Business Operations at IES Industries, both in Cedar Rapids, Iowa. Throughout his career, Cherrier has remained active serving a variety of charitable and community organizations.