MADISON, Wis. -

The CEO of a Madison-based utility who has been at the helm for 16 years will retire in March, the company said Wednesday.

MG&E said Gary Wolter, who has been CEO and president since February 2002, will retire in March.

Jeffrey Keebler, who's been with the company since 1995, will take over the leadership position when Wolter retires, MG&E said in a news release. Wolter will continue as chairman of the board.

MG&E is a utility for 146,000 customers in Dane County and purchases and distributes natural gas to 152,000 customers in seven south-central and western Wisconsin counties, according to the company. The company's roots in the Madison area date back more than 150 years.