Avista Corp announced two key leadership promotions on Aug 10, 2026, effective Oct 1, 2026, as part of a planned succession strategy to ensure continuity ahead of the retirement of Senior Vice President Jason Thackston at the end of 2026. Alicia Gibbs, currently Director of Innovation and Strategy, will assume the role of Vice President, Growth, Innovation and Strategy. Patrick Ehrbar, currently Director of Regulatory Affairs, will become Vice President, Regulatory Affairs. These appointments are designed to enhance strategic execution and support future growth by aligning responsibilities across the officer team.

The leadership changes address the transition period created by Thackston’s impending departure. Thackston currently serves as Senior Vice President, Growth, Policy and External Relations. By promoting Gibbs and Ehrbar, Avista aims to add leadership capacity and maintain operational stability through the end of 2026. The company stated that these moves are critical for executing its long-term strategy while managing the handover of key duties previously held by Thackston.

New Executive Responsibilities

Gibbs will lead efforts focused on growth, innovation, and long-range strategic planning in her new capacity. She joined Avista in 2009 and has held various leadership roles across strategy, natural gas operations, electric operations, shared services, customer service, and process improvement. Her broad experience across the business is cited as a significant value to the company’s strategic direction.

Ehrbar will continue to lead Avista’s regulatory affairs efforts in his elevated role. He joined Avista in 1998 and has held numerous leadership positions involving regulatory affairs, rates and tariffs, customer solutions, and demand-side management. His extensive regulatory expertise and deep industry understanding have supported positive outcomes for customers and stakeholders.

Leadership Commentary

Avista President and CEO Heather Rosentrater highlighted the value of both executives’ contributions. She noted that Gibbs’ ability to connect strategy, innovation, and execution has been significant for Avista. Regarding Ehrbar, Rosentrater emphasized his extensive regulatory expertise and confidence in his ability to help move the organization forward.

"I am pleased to promote Alicia Gibbs and Patrick Ehrbar into these key leadership roles," Rosentrater said. "I am confident Alicia and Patrick will continue helping move our organization forward as we execute our long-term strategy."

About Avista Corp

Avista Corp is an energy company involved in the production, transmission, and distribution of energy. Its operating division, Avista Utilities, provides electric service to 429,000 customers and natural gas to 386,000 customers. The service territory covers 34,000 square miles in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, serving a population of 1.5 million. Additionally, AERC, an Avista subsidiary, provides retail electric service to 18,000 customers in Juneau, Alaska through its subsidiary AEL&P. The company’s stock is traded under the ticker symbol AVA.

Barclays analyst Michael Lonegan lowered the price target for Avista (NYSE: AVA) from $40 to $37 while maintaining an Equal-Weight rating. The adjustment reflects a recalibration of the stock’s valuation, signaling that analysts see limited upside potential at current levels compared to previous estimates. For investors holding Avista shares, the revised target suggests a more conservative return expectation in the immediate term.

The rating change was issued by Michael Lonegan, who continues to view Avista as fairly valued relative to its peers. By keeping the Equal-Weight designation, Barclays indicates that it does not recommend buying or selling the stock based on current market conditions. This stance implies that the company’s fundamentals remain stable, even as the specific price ceiling is adjusted downward.

Analyst Action Details

The decision to lower the price target without changing the investment rating often points to minor adjustments in financial models rather than a fundamental shift in the company’s business trajectory. Investors should monitor subsequent filings and earnings reports to understand if operational changes or broader market trends are driving this valuation update. The move aligns with standard periodic reviews where analysts refine their forecasts based on new data or market shifts.