Duke Energy Announces Executive Rotations

Stephen De May, President, Duke Energy North Carolina

Duke Energy Announces Executive Rotations


CHARLOTTE, N.C. – Duke Energy today announced six executive transitions intended to further advance the company’s customer-focused strategy and broaden leadership capabilities across the enterprise.

In North Carolina, Stephen De May, senior vice president of Tax and Treasurer for Duke Energy, has been named president of Duke Energy North Carolina.

De May, 56, succeeds David Fountain, who will rejoin the company’s Office of General Counsel as senior vice president, legal, chief ethics and compliance officer and corporate secretary.

De May will be responsible for advancing the company's regulatory initiatives, as well as managing state and local regulatory and governmental relations, economic development, community affairs, water strategy, hydroelectric licensing and lake services.

In his new role, Fountain will oversee communications with the Board of Directors and ensure they are apprised of corporate governance and compliance matters. He will also be responsible for corporate legal issues, such as employee relations, mergers and acquisitions and disclosures, and fostering an accountable, transparent and ethical culture.

“Stephen will be a powerful advocate for our customers’ best interests and build on Duke Energy’s long-standing commitment to deliver safe, reliable, affordable and cleaner generation across the state,” said Lloyd Yates, executive vice president, customer and delivery operations, and president, Carolinas region. “His nearly 40 years in North Carolina, deep financial knowledge and thoughtful approach to stakeholder engagement have prepared him well for this important role.”

De May joined the company in 1990 as a director of the company’s former real estate development business, Crescent Resources. Since 1994, he has served in a variety of leadership positions of increasing responsibility, including in corporate finance, energy and environmental policy, investor relations and risk management. In 2007, De May was named the company’s treasurer and in early 2016, he also began overseeing the corporate tax function. He graduated from the University of North Carolina at Chapel Hill with a Bachelor of Arts degree in political science and a Master of Business Administration degree from the McColl Graduate School of Business at Queens University of Charlotte.

Fountain, 51, joined the company in 2000 as an associate general counsel, providing support for the merger that formed Progress Energy. He moved into various leadership roles in the legal organization, managing significant transactions, nuclear matters and environmental issues. In 2009, he was named vice president of Progress Energy’s legal department, and prior to his current role, he served as senior vice president of enterprise legal support for Duke Energy.

“David has demonstrated steadfast dedication to our North Carolina customers over the past three years,” said Yates. “He led us in the aftermath of two of the state’s most devastating hurricanes – Matthew and Florence, advocated for a constructive settlement in the recent rate case, and introduced the Power/Forward grid improvement program, which will deliver significant value for customers across the state,” said Yates.

Karl Newlin, currently senior vice president of Corporate Development, will take on an expanded role, becoming senior vice president Corporate Development and Treasurer.

Before assuming his current position in June 2018, Newlin, 49, served as senior vice president and chief commercial officer for Duke Energy’s natural gas business. Newlin joined Piedmont Natural Gas in 2010, focused on managing the company's strategic functions and business development opportunities. He also served as chief financial officer for Piedmont prior to Duke Energy's acquisition of the company in 2016.

Joni Davis, currently vice president of marketing and customer engagement, will become vice president and Chief Diversity Officer. Davis, 54, will strengthen diversity in the company’s recruiting pipeline, workforce and leadership team, as well as in the communities the company serves.

Davis joined Duke Energy in 1985 as a management trainee. She has led teams in customer services, corporate communications, marketing communications, and government and community relations. She also previously served as vice president of large account management, focused on building and maintaining relationships and services to the company’s largest customers.

Sasha Weintraub, currently senior vice president of Customer Solutions, will become senior vice president and chief commercial officer – natural gas. Weintraub, 48, will lead the gas commercial operations, which includes supply, wholesale marketing, transportation and pipeline services, field customer service, sales and delivery, and business development.

Weintraub joined Progress Energy in 1999 and held various leadership roles, including director of business operations and strategic planning. He also served as director of coal marketing and trading and, following the Duke Energy/Progress Energy merger in July 2012, he was named vice president of fuels and systems optimization.

Swati Daji, currently senior vice president and Chief Procurement Officer, will assume the role of senior vice president of Customer Solutions. Daji, 53, will be responsible for aligning customer-focused products and services to deliver a personalized end-to-end customer experience that positions Duke Energy for long-term growth. Her duties will include retail programs, enhanced basic services initiative, rate design and analysis, customer regulatory strategy and analytics, and data analytics.

Daji joined the company in 1991 as a financial analyst for Duke Power. From 1998 to 2004, she held a variety of management positions in the finance organization. Before assuming her current position, Daji served as Duke Energy’s senior vice president of fuels and systems optimization and, prior to that, served as vice president, global risk management and insurance, and chief risk officer.

All of the leadership changes will be effective Nov. 1, 2018.

“These leaders bring significant experience and deep knowledge to their new roles, which will help us achieve our strategic goals and continue to enhance our focus on our customers,” said Lynn Good, Duke Energy’s chairman, president and CEO.

Duke Energy

Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers’ experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.

The company’s Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.

A Fortune 125 company, Duke Energy was named to Fortune’s 2018 “World’s Most Admired Companies” list and Forbes’ 2018 “America’s Best Employers” list.

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