DAYTON POWER & LIGHT CO 8-K

What Happened

• Dayton Power and Light Company (doing business as AES Ohio) filed an 8-K reporting leadership changes. On April 15, 2026, the Board appointed Gustavo Garavaglia as Chief Executive Officer, effective April 15, 2026, and Kenneth J. Zagzebski shifted from CEO to Executive Chairman, effective the same date. Thomas A. Raga remains President. The Board also elected Sherry Kohan as Vice President, Chief Financial Officer and Controller, and principal accounting officer, effective May 7, 2026. Mr. Garavaglia will continue serving as Vice President and Chief Financial Officer and as principal accounting officer until Ms. Kohan’s appointment is effective.

Key Details

• Gustavo Garavaglia appointed CEO effective April 15, 2026; he has served as AES Ohio VP & CFO since April 2024 and as a board member since April 2024.
• Kenneth J. Zagzebski transitions to Executive Chairman effective April 15, 2026.
• Sherry Kohan elected CFO, Controller and principal accounting officer effective May 7, 2026; she is currently AES’s Senior VP & Chief Accounting Officer.
• AES Ohio does not separately compensate its officers/directors; these executives participate in AES-wide compensation programs (generally over $120,000 annually). No related-party transactions reportable under Item 404(a) were disclosed for the newly appointed officers.

Why It Matters

• Management changes are material because they affect company leadership and execution. Investors should note an internal leadership shift to experienced AES executives: Garavaglia has prior AES CFO experience and Kohan brings corporate accounting leadership from The AES Corporation. The changes are effective quickly (April 15 and May 7, 2026) and involve no separate AES Ohio-specific compensation or disclosed related-party transactions.