The president and chief executive officer of Indianapolis Power & Light Co. has announced his resignation. Vince Parisi, who is also CEO of The Dayton Power & Light Co., says he will step down next month to spend more time with his family.

The announcement comes nearly one year after Parisi was named to the position. IPL parent The AES Corp. (NYSE: AES) says his resignation will be effective June 5. 

“Leaving AES is a bittersweet decision, but it is the best choice for my family and me at this time,” Parisi said in a news release. “I value the talented team at AES and the friendships I made here and, in the Indianapolis and Dayton communities. I wish everyone at AES my best as they continue to accelerate the future of energy.”

AES did not provide a timeline for naming Parisi’s successor.

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