Diane Leopold to Retire from Dominion Energy

Rhea-AI Summary

Dominion Energy (NYSE: D) announced that Diane Leopold, Executive Vice President and Chief Operating Officer, will retire on June 1, 2025, after a 36-year career in energy, including 30 years at Dominion. During the transition, Ed Baine will become President-Utility Operations and Dominion Energy Virginia, while Eric Carr will become Chief Nuclear Officer and President-Nuclear Operations and Contracted Energy. Leopold will maintain oversight of major construction projects including the Coastal Virginia Offshore Wind project and Charybdis. She joined Dominion in 1995, became an officer in 2004, and has held various executive roles before assuming her current position in 2020.

Positive

• Planned leadership transition with experienced internal successors already identified
• Continuity in major construction projects oversight during transition period
• Expansion of utility operations under Ed Baine to cover 3.6M electric customers across three states

Negative

• Loss of experienced executive with 30-year company tenure and extensive industry expertise

Insights

Management Transition Expert

This executive transition appears well-planned and structured, with Leopold remaining until June 2025 to ensure smooth handover of responsibilities. Her oversight of key projects like the Coastal Virginia Offshore Wind project during the transition period minimizes operational risks. The selection of internal successors (Baine and Carr) suggests strong succession planning and continuity.

The redistribution of responsibilities between two experienced leaders could enhance operational efficiency. Baine's extensive 28-year tenure and progression through various roles demonstrates deep institutional knowledge. Carr brings valuable external perspective from PSEG, particularly in nuclear operations. This leadership restructuring maintains stability while potentially bringing fresh operational approaches.

RICHMOND, Va., Dec. 2, 2024 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced that Diane Leopold, executive vice president and chief operating officer, will retire on June 1, 2025, after a 36-year career in the energy industry, the past 30 of which she has spent at Dominion Energy. Leopold will remain chief operating officer, executive vice president, and a key member of the company's leadership team until June 1. During this transitional period Leopold will begin to transfer utility and contracted energy responsibilities to Ed Baine, currently president-Dominion Energy Virginia, who will become president-Utility Operations and Dominion Energy Virginia, and Eric Carr, currently chief nuclear officer, who will become chief nuclear officer and president-Nuclear Operations and Contracted Energy. Keller Kissam, president-Dominion Energy South Carolina, will report to Baine in his new role. Leopold will retain operational oversight of all major construction projects including the Coastal Virginia Offshore Wind project (CVOW) and Charybdis, the first Jones Act-compliant turbine installation vessel in the U.S. 

Bob Blue, chair, president, and chief executive officer, said:

"Diane is one of the brightest, most dedicated, and most capable people in our company and in our industry. Over her 36 years in the utility industry, she's demonstrated best-in-class performance in nearly all areas of operations, business development, financial planning, corporate strategy, as well as the construction of several multibillion-dollar energy infrastructure projects. It has been my honor and privilege to work with her for the last 19 years. We will miss her thoughtful, detail-oriented, and highly personal leadership. When she retires in June, she'll leave behind a deep and capable bench of talented leaders, including Ed and Eric, due to her deliberate focus on developing her team members."

Leopold joined Dominion Energy in 1995 and became an officer in 2004. She held a wide range of executive roles in operational, financial, and commercial areas throughout the company. She became Dominion Energy's executive vice president and co-chief operating officer in 2019 and assumed her current role in 2020.

Leopold's leadership in the energy sector includes the Nuclear Electric Insurance Limited, where she is a board member, and the Interstate Natural Gas Association of America and the American Gas Association, both of which she served as a past-chair. She currently serves on the Board of Directors for Markel Group. She also serves on the boards of the Jamestown-Yorktown Foundation, GROW Capital Jobs Foundation, and World Pediatric Project.

Baine, president-Dominion Energy Virginia, oversees operations of an electric utility serving 2.8 million customer accounts in Virginia and northeast North Carolina, and on Jan. 1, 2025, will assume additional responsibility for Dominion Energy South Carolina, which serves 800,000 electric utility customer accounts and 500,000 gas utility customers in South Carolina.

Baine joined the company in 1995 as an associate engineer after earning a bachelor's degree in electrical engineering from Virginia Tech, and since has held numerous engineering, operational, and management positions. He was promoted to vice president-Shared Services in 2009, and became vice president–Power Generation System Operations in 2013 and senior vice president–Transmission & Customer Service in 2015. He was named senior vice president-Distribution, Power Delivery Group in 2016, senior vice president-Power Delivery for Dominion Energy Virginia in 2019, and to his current position in 2020.

Carr, chief nuclear officer and president-Nuclear Operations, oversees the company's nuclear operations at four stations in three states. On Jan. 1, 2025, he will add responsibility for the company's Contracted Energy business segment consisting of Millstone Power Station, long-term contracted solar generation assets, and a renewable natural gas portfolio.

Carr came to Dominion Energy in his current role in 2023, from PSEG. At PSEG, Carr was appointed president and chief nuclear officer of PSEG Nuclear in 2019, overseeing operations for the Hope Creek and Salem nuclear generating stations in Salem County, N.J., including 1,600 employees and nearly 3,500 MW of total capacity. Before becoming chief nuclear officer, he was vice president-Hope Creek Generating Station and acting vice president and plant manager-Salem Generating Station.

Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. The company is one of the nation's leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company's mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit DominionEnergy.com to learn more.

 

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SOURCE Dominion Energy

FAQ

When will Diane Leopold retire from Dominion Energy (NYSE: D)?

Diane Leopold will retire from Dominion Energy on June 1, 2025.

Who will take over Diane Leopold's responsibilities at Dominion Energy (NYSE: D)?

Ed Baine will become President-Utility Operations and Dominion Energy Virginia, while Eric Carr will become Chief Nuclear Officer and President-Nuclear Operations and Contracted Energy.

What major projects will Diane Leopold oversee during her transition period at Dominion Energy (NYSE: D)?

During the transition, Leopold will retain operational oversight of major construction projects including the Coastal Virginia Offshore Wind project (CVOW) and Charybdis.