The state’s largest utility will have a new leader come this spring.

Jeff Guldner is stepping down as chairman and CEO of Arizona Public Service Co. and its parent company, Pinnacle West Capital Corp., effective March 31 after five years at the helm. He will be succeeded by Ted Geisler, who currently serves as APS president.

“We’re incredibly grateful for Jeff’s leadership since joining APS in 2004 as director of federal regulatory affairs and compliance through his tenure as CEO,” said Pinnacle West Lead Director Paula Sims. “He cast a strong vision for a carbon-free future, and he initiated efforts to improve our customers’ experience and the long-term financial health of the company — the impacts of which can’t be overstated. Jeff’s passion for APS’s people, customers and the community has left an indelible mark.”

Under Guldner, the utility has pledged to work toward becoming carbon neutral by 2050, with more expansion into renewable energy like solar and wind as well as being dedicated to nuclear power.

Geisler, who has been president of APS since 2022, has held a series of leadership positions within the utility starting in 2001. He has been on the executive team since 2018 in roles such as chief financial officer, chief information officer and director of corporate strategy.

“It’s an honor to continue to serve in this new capacity,” Geisler said in a press release. “I do so with deep respect and appreciation for Jeff, and for our essential role in powering Arizona’s progress. We have a talented team and a strategy that has reliably delivered outstanding results for our customers, communities and shareholders. I look forward to continuing to work closely with Jeff during the transition and building on the plans in place that have set the stage for APS’s success.”

Guldner said he believes the utility will be in good hands with Geisler as its leader.

“Over my tenure as CEO, Ted has been a trusted partner and deeply involved in crafting and executing the company’s long-term strategy,” Guldner said in a press release. “No one understands our priorities better, and I have full faith Ted and the team will lead APS and Arizona successfully through the new era of growth that’s upon us.”

Geisler is a third-generation Arizonan who is involved in various business groups in the Valley, including being on the board of the Arizona Chamber of Commerce and the Greater Phoenix Economic Council. He has a bachelor’s degree from Colorado State University and an MBA from Arizona State University.

Pinnacle West Capital Corp. is publicly traded on New York Stock Exchange under the symbol PNW and is a component of the S&P 500.