RICHMOND, Va., Aug. 27, 2019 /PRNewswire/ -- Dominion
Energy (NYSE: D) today announced that Paul D. Koonce,
executive vice president and president and chief executive
officer-Power Generation Group, will retire on Feb. 1, 2020,
after a 38-year career in the energy industry, the past 20 of which
he has spent at Dominion Energy. Effective Dec. 1, 2019,
Koonce will step down as head of the company's generation operating
segment to become executive vice president and strategic advisor,
reporting to Thomas F. Farrell, II,
chairman, president and chief executive officer.
Farrell said:
"Paul Koonce has been a leader in
the energy industry, in his community and at our company. We have
turned to Paul for trusted leadership in a variety of areas since
he joined the company two decades ago. Although he had always
skillfully navigated the natural gas world, particularly in his
stint at Consolidated Natural Gas and in his time leading our gas
businesses, Paul has been equally adept on the electric side,
overseeing safe, reliable and cost-effective electric operations
throughout the past 10 years. Paul has been a tremendous asset to
Dominion Energy, and he will be missed by all."
Koonce came to Dominion Energy in 1999 after a career spanning
more than 15 years at other companies in the energy sector. In his
time at Dominion Energy, Koonce has led three of the company's
current operating segments. In 2004, he became chief executive
officer of the Dominion Energy operating unit (now the Gas
Infrastructure Group). He rotated to lead the Dominion Virginia
Power operating unit (electric transmission and distribution, now
known as the Power Delivery Group) in 2009, and joined the Power
Generation Group as its head in 2016.
Highlights of his career include oversight of a storage
expansion at Cove Point, a program that has rebuilt several
high-voltage transmission lines that serve as the backbone for
Virginia's electric grid, and a
buildout of solar generation that has resulted in a tripling of the
company's solar portfolio in the past three years.
Koonce's leadership in the energy sector includes the Nuclear
Energy Institute, where he is vice chair and a member of the
executive committee; and the Interstate Natural Gas Association of
America and the Southern Gas Association, both of which he is a
past chairman.
In the Commonwealth of Virginia, he serves on board of trustees of
the Jamestown-Yorktown Foundation and its 2019 Commemoration, which
recognizes the New World's first legislative body in the New World,
and the Virginia Colony's arrival of Africans and its first
Thanksgiving. Koonce serves on the board of visitors of
Virginia State University, a
historically black university near Richmond, and on the board of directors of the
Virginia Business Higher Education Council. He also is a past
chairman of the Virginia Chamber's Blueprint Virginia plan to
improve the state's economy by tackling such issues as education,
transportation and health care.
"I have gratitude and admiration for Tom, the board of directors
and my colleagues," Koonce said. "I look forward to a very active
next chapter, and hope to remain engaged in some way with this
essential industry."
Nearly 7.5 million customers in 18 states energize their homes
and businesses with electricity or natural gas from Dominion Energy
(NYSE: D), headquartered in Richmond,
Va. The company is committed to sustainable, reliable,
affordable and safe energy and is one of the nation's largest
producers and transporters of energy with more than $100 billion of assets providing electric
generation, transmission and distribution, as well as natural gas
storage, transmission, distribution and import/export services. The
company expects to cut generating fleet carbon dioxide emissions 80
percent by 2050 and reduce methane emissions from its gas assets 50
percent by 2030. Please visit www.DominionEnergy.com to learn
more.
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SOURCE Dominion Energy