Summary
Dominion Energy, Inc. (D) filed an 8-K report on May 8, 2008, detailing significant executive and officer changes effective June 1, 2008. The key event is the resignation of Jay L. Johnson from his role as Executive Vice President. This change affects the leadership of the company's operating segment, Dominion Virginia Power, where Mr. Johnson will also cease his CEO duties. To fill these roles, David A. Heacock is slated for election as Senior Vice President, pending board approval. The Chairman, President, and CEO, Thomas F. Farrell, II, will assume the CEO responsibilities for Dominion Virginia Power in addition to his current duties. Investors should monitor these leadership transitions for any potential impact on strategic direction and operational execution.
Key Highlights
- 1Jay L. Johnson resigns as Executive Vice President, effective June 1, 2008.
- 2David A. Heacock is to be elected Senior Vice President, effective June 1, 2008 (subject to Board approval).
- 3Jay L. Johnson will cease to be CEO of Dominion Virginia Power, effective June 1, 2008.
- 4Thomas F. Farrell, II, will assume CEO responsibilities for Dominion Virginia Power, effective June 1, 2008.
- 5The filing includes a press release dated May 7, 2008, as an exhibit.