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Corporate Officers

Executive Team & Officers

Dennis L. Murdock
Executive Vice President and CEO

Mr. Murdock began his career at Central Iowa Power Cooperative (CIPCO) as an accountant and gradually rose through the ranks to become chief executive of the generation and transmission cooperative in 1989. With 45 years in the business, his expertise extends throughout nearly every aspect of the company including accounting, finance, contracts, and power supply.

As CEO, Mr. Murdock has successfully charted a strategic direction designed to provide reliable electric power at the lowest possible long-term cost. His approach is to manage risk by sticking to the basic strategies of asset control, fuel diversification, managing for growth, and maximizing flexibility. Today, CIPCO enjoys a balanced and diverse electric generation portfolio, over 85 percent ownership of generation assets and competitive electric rates. The company’s financial strength is evidenced by two recent ‘A’ ratings from major credit rating agencies – both with a stable outlook.

CIPCO’s core purpose is to create value for the individuals and communities it serves. Mr. Murdock exemplifies this through his affiliation with organizations engaged in economic growth and development. He currently holds leadership positions with Iowa Association of Business and Industry, Iowa Community Development (New Market Tax Credits), Capital Management Associates, CMA Ventures (formerly Iowa Capital Corporation), Iowa Area Development Group, Iowa Capital Investment Corporation, University of Iowa Research Park (Myriad Plaza), and Upper Iowa University Board of Trustees.

Mr. Murdock earned his Bachelor of Science degree in Accounting and Math from Upper Iowa University.

Richard L. Anderson
Senior Vice President Utility Operations

Mr. Anderson joined Central Iowa Power Cooperative (CIPCO) in 1973 and has held various engineering and operations positions since that time. Today, he leads a department of 75 employees performing generation, transmission, engineering, environmental, compliance and safety functions that are central to the electric cooperative’s mission.

As Vice President of Utility Operations, Mr. Anderson is responsible for managing CIPCO’s fleet of owned and co-owned generation assets with a combined capacity of over 500 megawatts and 1,949 miles of transmission lines. He is a skilled technical problem solver and a seasoned negotiator when it comes to labor issues, facilities agreements and regulatory matters. His 40 years of progressive technical and business management experience and flexibility to change give him a clear vision of the electric utility industry.

The Utility Operations department’s prime objective is customer satisfaction achieved through continuous process refinement in each of the operating functions. Mr. Anderson and his team are very adept at monitoring changes in the regulatory environment, adapting operations to overcome new challenges and meeting the needs of cooperative members. As a result, CIPCO remains an industry leader in many of the metrics used to measure generation and transmission power suppliers. 

Mr. Anderson is a published author in several electric utility magazines and recipient of the Governor of Iowa's Business Development recognition for assistance with the filmed-in-Iowa movie Field of Dreams. He also received the "Leadership in Facilitating" award from the Iowa Area Development Group for his work in negotiating rural business development projects.


Terry Sullivan
Vice President Chief Financial Officer

Terry Sullivan joined Capital Management Associates (CMA), a subsidiary of Central Iowa Power Cooperative (CIPCO) in 2001. He then transitioned to Chief Financial Officer and Assistant Vice President for CIPCO in 2005, where he is responsible for management of the accounting and finance areas of the generation and transmission electric cooperative.

Mr. Sullivan continues his role as Vice President of CMA and also serves as Vice President of CMA Ventures, an evergreen venture fund, which invests in early to mid-stage companies in a wide range of industries. In addition, he serves on the Board of Directors of Fastek International, the Entrepreneurial Development Center, Myriad Developers, L.C., and Corvida Medical. He is also a member of the American Institute of Certified Public Accountants and the Iowa Society of Certified Public Accountants.

Prior to joining CIPCO, Mr. Sullivan spent eleven years with KPMG as a Senior Manager in Audit and Assurance Services. He worked with early stage companies to large publicly-held companies in a variety of industries while at KPMG.

Mr. Sullivan earned a Bachelor of Arts Degree in Accounting from the University of Northern Iowa, graduating with High Honors in 1990. He passed his Uniform Certified Public Accountancy Exam in May 1990.


Central Iowa Power Cooperative • P.O. Box 2517 Cedar Rapids, IA 52406-2517
Phone: (319) 366-8011 Fax:(319) 366-8626 • Contact Us
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