Duke Energy has a new president and CEO, unanimously elected by the board of directors and assuming her new role this morning. Lynn Good, 54, served as Duke’s executive vice president and chief financial officer since July 2009, following six years with Cinergy, a Duke Energy predecessor company, and 20 years in senior management at Deloitte & Touche and Arthur Andersen.
Duke Energy and Progress Energy merged on July 2 of last year, becoming the largest electric power company in the United States, supplying and delivering electricity to about 7 million customers in the Southeast and Midwest, along with distributing natural gas in Ohio and Kentucky. Duke operates diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
“The committee applied thoughtfulness, collaboration and diligence to its selection process,” said board director and selection committee member Jim Hyler. “Our unanimous support of Lynn as our next president and CEO clearly demonstrates that the board is united in its vision for the company and its confidence that Lynn is the best leader to move Duke Energy forward.”
Good was principally responsible for the Midwest non-regulated generation, Duke Energy International, Duke Energy Renewable, corporate development and merger and acquisition activities in her role as group executive and president of Duke Energy’s Commercial Business organization.
As EVP and CFO for Duke, Good led the financial function, which includes the controller’s office, treasury, tax, risk management and insurance, as well as corporate strategy and development. In addition, Good was responsible for the information technology and supply chain functions.
She succeeds Jim Rogers, who will continue to serve as chairman of the board of directors until his retirement on December 31, 2013. Rogers, 65, had served as Duke’s president and CEO since 2006 and had spent 25 years of his career as a CEO in the utility industry.
“I have worked closely with Lynn for 10 years, and know she cares deeply about this company, our employees, customers and shareholders,” Rogers said. “I applaud the board’s choice and am eager to work with Lynn on a seamless transition.”
Good has a bachelor of science in systems analysis and accounting from Miami University in Oxford, Ohio. She and her husband Brian have two sons.