ALLETE, Inc. selects new chief financial officer

ALLETE, Inc. announced on Tuesday that Bob Adams, chief risk officer and senior vice president of energy-centric businesses, has been promoted to chief financial officer.

Adams will replace outgoing CFO Steve DeVinck, who plans to retire in the spring, with the transition effective March 4.

“Bob has spearheaded ALLETE business development initiatives, and his understanding of regulated and non-regulated business units, strategic outlook and financial expertise will play a vital role in ensuring the continued success of ALLETE and its growth strategy,” ALLETE Chairman, President, and CEO Al Hodnik said. “I look forward to working alongside Bob in sharing ALLETE’s compelling investor relations story.”

Adams has worked with ALLETE for nearly 30 years, having first been hired in 1987 as a financial analyst. He has served as chief risk officer and vice president of business development since 2008, took on the additional role of vice president of energy-centric businesses in 2014, and was promoted to senior vice president in 2015.

“I am excited to lead in this era and believe we are one of the best-positioned businesses in our industry to take advantage of sustainability trends thanks to a world-class team and key positioning moves we have made over the past decade,” Adams said.