The East-Central Iowa Rural Electric Cooperative Board of Directors has named Teresa Floyd, the current manager of finance and consumer services for ECI REC, the next chief executive officer of the Cooperative. Effective July 1, she will succeed CEO Steve Marlow, who has led ECI REC since 2013. He recently announced his retirement, effective August 3, 2020.
Board President Steve Rau made the announcement at a June employee virtual meeting, saying, “Steve has done an outstanding job serving the membership of ECI REC and will be missed.”
Rau continued, “The Board had a very challenging undertaking and conducted a thorough national search. Teresa emerged as the best candidate hands down. We are confident Teresa possesses the knowledge and talent to continue to move the Cooperative forward, and we look forward to working with Teresa in her new position as we strive to meet future challenges in today’s demanding business climate.”
After the announcement, Teresa thanked President Rau and said, “I look forward to serving the membership, as well as the opportunity to work with all 31 employees in a new capacity.”
“The Cooperative is a great place to work, and I wish everyone all the best. I know Teresa will do a good job, and I’m happy for her,” said CEO Marlow.
Teresa Floyd lives in Vinton and has 28 years of service with ECI REC. She was hired as a cost records clerk by Benton County Electric Cooperative Association (a parent cooperative of ECI REC) and has worked as a general ledger administrator and director of finance and administration. For the past 17 years, she has served as manager of finance and consumer service. In that role, she has advised the CEO on the Cooperative’s strategic direction, policy administration, regulatory compliance, financial planning, rate design, and staffing.
Throughout her career, Teresa has acquired knowledge of utility financials, consumer service management, and risk management. She graduated from the National Rural Electric Cooperative’s Management Internship Program and completed the Cooperative Financial Professional Certificate Program.
East-Central Iowa Rural Electric Cooperative serves nearly 8,000 members within 11 of the state’s 99 counties. The Cooperative owns and maintains 2,284 miles of distribution lines and 25 substations and employees 33 people.