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57.40+1.22 (+2.17%)
As of 12:06PM EST. Market open.


30 West Superior Street
Duluth, MN 55802-2093
United States

Full Time Employees1,322

Key Executives

NameTitlePayExercisedYear Born
Mr. Alan R. HodnikExec. Chairman1.5MN/A1960
Ms. Bethany M. OwenCEO, Pres & Director601.27kN/A1966
Mr. Robert J. AdamsSr. VP & CFO775.38kN/A1963
Mr. Steven Wayne MorrisVP, Controller & Chief Accounting Officer458.2kN/A1962
Ms. Nicole Renee JohnsonVP & Chief Admin. Officer417.94kN/A1975
Mr. Vincent J. MeyerVP of Investor RelationsN/AN/AN/A
Ms. Margaret A. ThickensVP, Chief Legal Officer & Corp. Sec.N/AN/A1967
Mr. Wade W. BoeshansPres & GM of BNI EnergyN/AN/AN/A
Mr. Al RudeckPres of Allete Clean Energy, Inc.N/AN/AN/A
Mr. Patrick L. Cutshall C.F.A., CPA, CPA, CFAVP & Corp. TreasurerN/AN/A1965
Amounts are as of December 31, 2019 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.


ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, hydroelectric, natural gas-fired, biomass co-fired, and solar. The company provides regulated utility electric service in northeastern Minnesota to approximately 145,000 retail customers, as well as 15 non-affiliated municipal customers; and regulated utility electric, natural gas, and water services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 660 megawatt of wind energy generation. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 8,875 megavoltamperes. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.

Corporate Governance

ALLETE, Inc.’s ISS Governance QualityScore as of November 1, 2019 is 1. The pillar scores are Audit: 1; Board: 4; Shareholder Rights: 2; Compensation: 2.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.