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Allete CFO to retire

Bob Adams started at the company in 1987.

Bob Adams
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DULUTH — Allete, Inc.'s senior vice president and chief financial officer will retire this year after more than 35 years at the Duluth-based energy company.

In a news release, the Minnesota Power parent company said Bob Adams will retire in June 2022 "as part of a planned transition" and that the company is expected to announced the next CFO in February.

Owen credited Adams with diversifying the company, investing in renewable energy and recruiting talented financial and accounting teams.

"Allete is a stronger, more resilient company because of Bob’s many contributions throughout his distinguished career, and we wish him the very best in his upcoming retirement," Owen said.

Adams started at the company in 1987 as a financial analyst and was named vice president of finance of Minnesota Power in 1997. In 2008, he became chief risk officer and vice president of development. Then, in 2015, he became vice president of energy-centric businesses where he oversaw Superior Water, Light and Power; BNI Energy; and U.S. Water Services, Inc.


Finally, he was named senior vice president and CFO of Allete in 2017.

"I’ve always said Allete's people, through their engagement, collaborative nature and highly innovative capabilities, are a unique and key ingredient to the ‘special sauce’ behind the company’s achievements,” Adams said. “Today’s energy industry has such tremendous opportunity and growth potential. With a great team in place executing its sustainability in action strategy, Allete is well-positioned to thrive by taking full advantage of the opportunities in clean energy.”

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