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KANSAS CITY, Mo.--([ BUSINESS WIRE ])--Great Plains Energy Incorporated (NYSE: GXP) and Kansas City Power & Light Company (aKCP&L) today announced that Chairman and Chief Executive Officer Michael J. Chesser has informed the Board of Directors (the aBoarda) of his decision to retire as Chief Executive Officer of Great Plains Energy and KCP&L, effective May 31, 2012. In order to ensure a smooth transition, Chesser will remain as a member of the Board of Directors and serve as its Chairman. He has served as Chairman and Chief Executive Officer since 2003.

"The Board is grateful that Mike will continue on the Board for a period of time to ensure a smooth transition. He has led the Company through almost a decade of significant change and successfully repositioned the Company for growth in the future"

The Board has selected Terry Bassham, President and Chief Operating Officer, to succeed Chesser as Chief Executive Officer. Bassham, 51, joined the Company in 2005 as Executive Vice President and Chief Financial Officer. He has served as a member of the Board since September 2011.

aI have decided to retire from a Company that I truly admire for its employees, management team and commitment to the community,a commented Chesser. aI firmly believe that a strong community is essential for corporate stability and growth, and I am extremely proud that the Company and its employees have embraced this philosophy as the foundation of the Companyas culture.a Chesser continued, aDuring the past nine years, my objective has been to collaboratively develop and lead the Companyas transformational growth that resulted from the expansion of our regulated footprint with the acquisition of Aquila, Inc. and the successful completion of our Comprehensive Energy Plan -- the largest construction program in our history."

aThe Board is grateful that Mike will continue on the Board for a period of time to ensure a smooth transition. He has led the Company through almost a decade of significant change and successfully repositioned the Company for growth in the future,a commented Lead Director, Robert West. aTerry is a key member of the Company's leadership team and the Board is confident in his ability to lead the Company in its efforts to provide long-term sustainable value for shareholders and customers.a

During his tenure at Great Plains Energy, Chesser held numerous leadership roles in industry organizations, including Past Board Chair a" Electric Power Research Institute and Executive Committee a" Edison Electric Institute. He has been involved in many civic and charitable organizations, including serving on the Boards of Economic Development Corporation of Kansas City, Greater Kansas City Community Foundation, Partnership for Children, Greater Kansas City Chamber of Commerce, Civic Council of Greater Kansas City, the Midwest Research Institute, and the University of Missouri-Kansas City. He also has won many awards for his commitment to improving life in the communities we serve, including the 2008 Kansas City Spirit Award, 2008 Urban League Difference Maker Award, 2010 MORE Equity Partner of the Year Award, 2010 Multiple Sclerosis Champion Award and 2011 CEO of the Year Award from the Mid-American Minority Supplier Development Council.

About Great Plains Energy

Headquartered in Kansas City, Mo., Great Plains Energy Incorporated (NYSE: GXP) is the holding company of Kansas City Power & Light Company and KCP&L Greater Missouri Operations Company, two of the leading regulated providers of electricity in the Midwest. Kansas City Power & Light Company and KCP&L Greater Missouri Operations Company use KCP&L as a brand name. More information about the companies is available on the Internet at: [ www.greatplainsenergy.com ] or [ www.kcpl.com ].