KNOXVILLE, Tenn. - The Tennessee Valley Authority board has chosen a former energy chief from North Carolina to succeed retiring Tom Kilgore as the chief executive of the government utility.
At a news conference in Knoxville Monday, TVA said William D. "Bill" Johnson was chosen from among more than 70 applicants to TVA's top job.
"We are very fortunate to have someone of Bill Johnson's caliber as TVA's next president & CEO," said TVA Board Chair Bill Sansom. "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."
Johnson formerly headed Progress Energy, which merged into Duke Power four months ago.
Kilgore, who served as TVA's first president & CEO since 2006, will continue to lead TVA until Johnson takes over on January 1, 2013.
"I am particularly pleased to be following in the footsteps of Tom Kilgore, an outstanding leader whom I have long admired," said 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."
His annual salary will be $950,000, with a potential additional $3-million based on incentives and performance.
(The Associated Press Contributed To This Report.)