Dominion Resources, Inc. (Dominion) has announced the retirement of Thomas N. Chewning as chief financial officer (CFO), effective June 1, 2009. Chewning will be succeeded by Mark F. McGettrick, who presently is the president and chief executive officer (CEO) of Dominion Generation. The company said that Paul D. Koonce will become CEO of Dominion Virginia Power, David A. Christian will become CEO of Dominion Generation, effective June 1, 2009.
The following changes also will take effect on June 1, 2009:
Gary L. Sypolt will become chief executive officer of Dominion Energy. Sypolt currently is president of Dominion Energy.
David A. Heacock will become president and chief nuclear officer of Dominion Nuclear. Heacock currently is president of Dominion Virginia Power.
The following changes will take effect April 1, 2009:
Mary C. Doswell will become senior vice president-Alternative Energy Solutions. This is a new position created to enhance and expand Dominion’s focus on smart grid technologies, energy efficiency, and alternative energy generation. Doswell currently is senior vice president-Regulation & Integrated Planning.
James K. Martin will become senior vice president-Regulation & Integrated Planning. Martin currently is senior vice president-Business Development & Generation Construction.
Farrell said:
Dominion is fortunate to have a broad and talented management team, as evidenced by the superior operational and financial year experienced by the company in 2008. This rotation will enable this talented team of individuals to continue expanding their depth and expertise while allowing them to share their insights and skills with our other operating units. This nurtures the stability and long-term strength of our company.
McGettrick, Koonce, Christian, Sypolt, Doswell and Martin will report to Farrell. Heacock will report to Christian.
Koonce currently is CEO of Dominion Energy. Dominion Energy operates the company’s natural gas pipeline and storage system, natural gas distribution companies, and natural gas exploration and production business.
Christian currently is president and chief nuclear officer of Dominion Nuclear, which operates the company’s four nuclear power stations in three states.
Chewning plans to remain a financial consultant to the company.
The company also announced a rotation of other senior executives across operating units to broaden the depth and scope of the senior management’s leadership experience.
Thomas F. Farrell II, chairman, president and CEO, said:
Tom Chewning has served our company with dedication, determination and skill. He has played a critical role in Dominion’s emergence over the past two decades as one of the nation’s largest and most successful energy companies. The industry’s landscape has changed repeatedly, and the path has been challenging. But Tom’s command of the energy and financial industries is second to none, and his strong leadership and good counsel have benefitted Dominion’s shareholders, customers and employees.
Institutional Investor magazine named Chewning CFO of the Year for the Utility Industry for 2005.
Farrell continued: Tom’s dedication to community service and philanthropy has been an inspiration to all of us who have worked with him over the years. His enthusiasm for giving back is matched only by that of his wife Nancy. Because their generosity and service are widely respected, they have become role models for many people.
Among Chewning’s most prominent community endeavors, Farrell noted, was serving as co-chair of fundraising for the Arthur Ashe monument on Richmond’s historic Monument Avenue, for which Style magazine honored him as co-Richmonder of the Year, along with Paul DiPasquale, the monument’s sculptor.
Chewning, who will be 64 years old next month, said: I have been honored to serve as Dominion’s CFO for the past 10 years. And while I am proud that the company has never been in better financial shape, Dominion’s greatest assets are the dedicated and kind people who work here.
The last 40 years of my life have been largely focused on my career. Now it is time to devote much more time to my wonderful wife, children and grandchildren.