The Illinois Municipal Electric Agency (IMEA) on Aug. 22 announced the planned retirement of President and Chief Executive Officer Kevin Gaden.
Gaden will retire at the end of March 2026, after over 14 years of dedicated leadership and service to the IMEA, a non-profit wholesale electric supplier to 32 municipally owned electric utilities, IMEA noted.
The IMEA Board of Directors are beginning a search process for his replacement.
“It has been the privilege of a lifetime to lead IMEA, IPEA and IMUA,” said Gaden. “I’m incredibly proud of what we’ve accomplished together and deeply grateful to our employees, members, and partners who made our journey so meaningful.”
Gaden joined the joint action agency in late 2011 as the President and CEO. Prior to his leadership role at IMEA, Gaden rose through the ranks at Nebraska Municipal Power Pool Energy, a similar joint action agency in Lincoln, Nebraska.
Gaden’s tenure at IMEA was notable, with several accomplishments including declining power costs that are 6% lower today than 2014, growing reserves and equity over 300% and moving the $1.2 Billion asset base of IMEA to within 10 years of being paid off with no remaining agency debt.
He also well positioned the IMEA resource portfolio by leading the agency to acquire nearly 230 MW of new renewable resources, diversifying the portfolio and attaining sustainable power to meet members’ goals.
Most recently, Gaden helped secure a new, long-term contract with 29 members for power supply until 2055.
While guiding IMEA, Gaden also served as the President and CEO of the Illinois Public Energy Agency (IPEA), a wholesale natural gas supplier for 11 communities and two electric cooperatives that also serve natural gas at retail, as well as leading the Illinois Municipal Utilities Association (IMUA), the state’s municipal utilities association dedicated to providing value added services and advocacy efforts for the state’s non-profit municipal utilities.
Chairman of the Board Dan Cook of Highland, IL said, “On behalf of the Board and the entire IMEA team, I want to thank Kevin for his visionary leadership, integrity, unwavering commitment, and lasting impact. We wish him the very best in retirement.”
IMEA has engaged Mycoff Fry Partners to lead the Board in a nationwide search to find Gaden’s replacement. Gaden has expressed flexibility to remain with IMEA in an advisory role for a short period as needed to ensure a smooth transition.
