Feb 26 (Reuters) - Utility firm American Electric Power said on Monday board member Benjamin Fowke has been named as its interim chief executive officer, effective immediately.

Fowke, the former CEO of peer Xcel Energy, will replace Julie Sloat, American Electric's chief since 2023.

"This decision was not a result of any disagreement with Sloat regarding AEP's operations, policies or financial performance, and was not made for cause or related to any ethical or compliance concern," the company said.

American Electric said its board has engaged a leading executive search firm to conduct an external search for a permanent CEO. (Reporting by Sourasis Bose in Bengaluru; Editing by Shailesh Kuber and Maju Samuel)