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Salt River Project looks from within to select new CEO to replace retiring Mike Hummel

Phoenix Business Journal

Salt River Project has named longtime employee Jim Pratt as the company’s new general manager and CEO.

Pratt will start his new job on May 5 to lead Arizona’s largest community-based, not-for-profit utility. Pratt succeeds CEO Mike Hummel, who is retiring.

The Tempe-based company said that Pratt was selected from among a number of internal candidates.

“I am humbled and honored to be selected to lead SRP,” said Pratt in a statement. “It is a role steeped in history and has helped make a significant impact on our state and the communities we serve. I look forward to working with the incredible SRP team members to build upon the company’s strong foundation of dedicated service as we evolve to meet our community’s future needs.”  

He will also work with SRP’s elected board and council, which remains steadfast in achieving the company’s 2035 corporate sustainability goals, while navigating a rapidly changing industry.

“SRP’s continuing leadership and experience to plan for a reliable future remains critically important as the Valley, our state and industry deal with many changing issues, unprecedented growth and the ongoing drought. Jim Pratt is the right person to lead SRP at this pivotal time in our industry,” said SRP President David Rousseau, in a statement. “Over the years, the Board has had the opportunity to work closely with him on many important issues, and it’s clear that he has the leadership skills, experience and vision to move the company forward.”   

Hummel was named SRP’s CEO in 2018

Pratt started at SRP in 1984 as an engineer. He was named associate general manager of customer operations & chief customer executive in 2018. In that role, he led SRP teams responsible for servicing SRP’s water and power customers through water services, customer services and strategy, customer programs and distribution grid services operations.

He has worked in the utility industry for more than 38 years, with extensive experience in a variety of engineering and management positions relating to the generation, transmission, distribution, grid modernization, water and customer service segments of SRP’s business.

Pratt currently serves on the board of Associated Edison Illuminating Companies; is an executive committee vice-chair of the Ronald McDonald House Charities of Central and Northern Arizona; and on the board of The Phoenix Zoo.

Hummel, SRP’s current GM and CEO, spent more than 40 years with the utility before announcing his plans to retire. In 2022, Hummel was named as a Most Admired Leader by the Phoenix Business Journal.

“I have worked with Jim Pratt for 35 years and I am confident that he will be an outstanding GM and CEO,” Hummel said in a statement. “He is a skilled leader who inspires others, encourages innovation and will work tirelessly to support customers.” 

Since taking over as CEO in 2018, Hummel oversaw major steps to transition to a low-carbon resource portfolio, retiring coal, significantly increasing investment in solar generation and battery storage capacity, and committing to advancing renewable technologies to ensure reliable, affordable and sustainable water and power as demand has surged.

SRP has earned the highest credit ratings of any large public power entity in the United States, including an AA+ rating from S&P Global and an Aa1 rating from Moody’s Investor Service. With more than 5,000 employees SRP is one of Arizona’s largest employers, according to Business Journal research.


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