William Johnson Named President And CEO For TVA

  • Monday, November 5, 2012
William "Bill" Johnson
William "Bill" Johnson

The TVA Board of Directors announced Monday that William D. Johnson, former chairman, president and chief executive officer of Progress Energy, Inc., will become president and CEO of the $11 billion federal agency, effective Jan. 1, 2013. Mr. Johnson, 58, will succeed Tom Kilgore, 64, who has served as TVA’s first president & CEO since 2006.

TVA Board Chairman Bill Sansom said in a press conference at TVA’s Knoxville headquarters, “We are very fortunate to have someone of Bill Johnson’s caliber as TVA’s next president & CEO. Bill is a seasoned CEO with deep experience leading a company with a diverse energy portfolio – from coal and gas, to nuclear, hydro and renewables. TVA will benefit from his strong leadership skills, deep industry expertise and ability to drive employee engagement.”

"I am excited and honored to be selected to lead this organization in its mission of providing low-cost and ever cleaner energy, and promoting stewardship of the resources of the Tennessee Valley. I am particularly pleased to be following in the footsteps of Tom Kilgore, an outstanding leader whom I have long admired," said Mr. Johnson. "TVA and the people who work there have had a dramatic positive impact on the quality of life in the Tennessee Valley, and I look forward to being a part of the dynamic team serving the people of the region."

According to Mr. Sansom, Mr. Johnson’s annual compensation consists of $950,000 in salary and potential additional compensation of $3 million which is at-risk and may be awarded based on short- and long-term incentives tied to performance objectives and retention incentives.

Mr. Johnson was chairman, president and CEO of Progress Energy, Inc., an electric utility based in Raleigh, N.C., from October 2007 to July 2012. He was with Progress Energy (previously CP&L) in a number of roles since 1992, including president and chief operating officer of Progress Energy; group president for Energy Delivery, president and chief executive officer for Progress Energy Service Company, LLC, and general counsel and secretary for Progress Energy, Inc. He was instrumental in the merger between Progress and Duke Energy.

Prior to this, Mr. Johnson was a partner with the Raleigh office of Hunton & Williams, where he specialized in the representation of utilities.

Mr. Johnson served as vice chairman and on the executive committee of the Edison Electric Institute (EEI) and was chairman of the board of directors of the Nuclear Energy Institute (NEI). He was also a member of the boards of directors of the Institute of Nuclear Power Operations (INPO), Nuclear Electric Insurance Limited (NEIL), and other community and charitable organizations. Mr. Johnson has held numerous leadership positions at the state and local level, including serving as chairman of the North Carolina Chamber.

He graduated from Duke University summa cum laude with a bachelor's degree in history, and received a law degree with high honors from the University of North Carolina at Chapel Hill in 1982.

Mr. Kilgore will continue to lead TVA until Mr. Johnson’s arrival, and then support his smooth transition into the Federal agency. Mr. Johnson will operate from TVA’s headquarters in Knoxville.

Senator Lamar Alexander said, “The TVA board has elected as chief executive officer one of the nation's most experienced and respected utility executives.  I look forward to working with Bill Johnson and the board to help TVA provide the large amounts of low-cost, clean, and reliable electricity that are crucial to growing new jobs.”

Senator Bob Corker said, “TVA is at an important crossroads, and I hope that as Bill Johnson takes the helm, he will focus his efforts on tightly managing the operation and focusing on the strategic decisions and investments that need to be made – all with the knowledge that the economic future of the Tennessee Valley is tied to keeping rates low and ensuring our citizens have access to safe and reliable power. I thank Tom Kilgore for his service to TVA and look forward to working with Bill in the coming months.”

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