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Greenville Business Magazine

The Business Narrative: Leadership Change

Jan 14, 2025 09:57AM ● By Donna Walker

Duke Energy Board Appoints Harry Sideris as President, Chief Executive Officer; Succeeds Lynn Good, Who Retires as Chair, CEO

(Photos courtesy of Duke Energy.)

 

Duke Energy (NYSE: DUK) announced Jan. 13, 2025, that its board of directors appointed Harry Sideris, president and chief executive officer and a member of the board of directors, effective April 1, 2025.

 

Sideris, currently president, will succeed Lynn Good, who will retire from her management and board roles at the company on April 1 after more than two decades of service.

 

Lead independent director Ted Craver will become independent chair of the Duke Energy Board of Directors, also effective April 1.

 

Craver, who has served on the company’s board since 2017, is the retired chairman, president and CEO of Edison International, an electric power holding company serving 15 million people in Southern California.

 

“After a multiyear and comprehensive CEO-succession process, we are delighted that Harry will become our next president and CEO. Harry’s nearly three-decade-long record of extraordinary accomplishments makes him uniquely qualified to lead Duke Energy,” Craver said.

 

Craver added, “In an era of growth and rapidly evolving customer demands, Harry’s experience in operations, customer service, strategy, and stakeholder and regulatory engagement makes him the ideal choice for CEO. On behalf of the board, I want to congratulate Harry and look forward to him and his leadership team building upon the company’s strong momentum.”

 

Craver continued, “The board is extraordinarily appreciative of Lynn’s leadership during her tenure as CEO and her nearly 20 years with the company. Her many contributions delivered value to our customers, shareholders, and other stakeholders. Thanks to her leadership, Duke Energy today is an industry-leading, fully regulated utility company well-positioned to thrive in the years ahead. Lynn’s legacy is defined by the power of her strategic course, an unwavering commitment to our customers and shareholders, industry-leading operations and safety, excellence in stakeholder engagement and the team she built.”

 

“I am honored and excited to assume the leadership of Duke Energy at this dynamic time for our company and industry,” said CEO-elect Sideris. “I’d also like to thank Lynn for her leadership and guidance over the years. The valuable position that we’ve attained under her leadership, the opportunities before us, and our employees’ steadfast commitment to our customers and shareholders make our future bright.”

 

Sideris, who has served as president of Duke Energy since April 2024, is a 29-year veteran of the company.

 

As president, Sideris has successfully led Duke Energy’s electric and gas utilities, including operations, customer services and delivery, economic development, regulatory and legislative affairs, and grid and generation strategy.

 

He began his career at Progress Energy (formerly Carolina Power & Light) prior to its merger with Duke Energy in 2012. His experience includes a variety of customer, operations, and regulatory leadership roles.

 

Before becoming president, Sideris’ leadership roles included executive vice president of customer experience, solutions and services, president of Duke Energy Florida, vice president of environmental, health and safety and vice president of power generation for fossil/hydro operations in the western regions of North Carolina and South Carolina.

 

Good said, “It has been the honor of a lifetime to lead this company for the last 11 years and to serve with an industry leading team. Working with communities, policymakers, and other stakeholders, I’m so proud of what we’ve accomplished. Duke Energy is in a strong and enviable position and, under Harry’s leadership, will surely seize upon the opportunities ahead to deliver for our customers, communities, investors, and other stakeholders.”

 

During her tenure as CEO, Good guided the company through a dynamic external environment while delivering for customers and investors.

 

Hallmarks of her tenure as CEO include enhancing stakeholder engagement, modernizing regulatory constructs across multiple states, developing innovative customer solutions, delivering industry-leading safety and operations, and transforming the company into a pure-play portfolio of regulated utility businesses.

 

Company officials said she established herself as a respected leader in the utility industry and the broader business community.

 

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of America’s largest energy holding companies.

 

The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity.

 

Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc.

United Bankshares, Inc. (NASDAQ: UBSI), parent company of United Bank, announced completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc., parent company of The Piedmont Bank.

 

“We are thrilled to have Piedmont join the United family,” said Richard M. Adams, Jr., CEO of United Bankshares, Inc.

 

Adams added, “This transaction allows us to grow our presence in one of the most desirable banking markets in the nation. We look forward to serving the employees, customers, and communities in our new footprint.”

 

The acquisition is United’s 34th., and the combined organization has more than $32 billion in assets and a network of over 240 locations across Georgia, South Carolina, North Carolina, Virginia, Maryland, Washington, D.C., West Virginia, Ohio, and Pennsylvania.

Prisma Health, Bon Secours To Restrict Patient Visitation From Children Under 16 Due To Increased Flu, Respiratory Illnesses

Beginning Wednesday, Jan. 15, Prisma Health will restrict children under age 16 from visiting hospitalized patients due to increased levels of influenza and other respiratory illnesses in the community.

 

Bon Secours also said with the onset of respiratory virus season, visitors who are
under the age of 16 will be restricted at both St. Francis Eastside and St. Francis Downtown hospital locations beginning Wednesday, Jan. 
15 .

 

“By taking this proactive best-practice step, we can ensure our hospitals remain safe places for our patients to receive high-quality care,” said Jacie Volkman, executive director of Prisma’s Department of Infection Prevention.

 

She said exceptions may be made to the visitation restriction by the attending physician and local leadership.

 

Seasonal influenza activity continues to increase and is elevated across most of the country, according to the U.S. Centers for Disease Control and Prevention.

 

The CDC said there have been at least 5.3 million flu illnesses, 63,000 hospitalizations, and 2,700 deaths so far this season — including at least 11 children.

 

South Carolina is also reporting widespread activity, including three flu-related deaths reported, according to the S.C. Department of Public Health.

 

Other respiratory illnesses have also been on the increase, including COVID-19 and respiratory syncytial virus (RSV).

 

Hospital officials also asked that community members not visit patients if they have a fever, have tested positive for any respiratory illness or are suspected of having one. 

 

It’s recommended that all visitors wear masks to help avoid the spread of respiratory illnesses.

 

The CDC recommends that everyone 6 months and older get an annual flu vaccination. Officials said vaccination is especially important for those at risk for developing severe complications.

 

People at higher risk of serious flu complications include young children, pregnant women, people with certain chronic health conditions like asthma, diabetes or heart and lung disease and people 65 years and older.

 

To help stop the spread of illness during flu-and-cold season, the CDC also recommends the following:

 

* Wash hands often with soap and water. If soap and water aren’t available, use an alcohol-based hand rub.

* Avoid close contact with people who are sick. If you are sick, limit contact with others as much as possible to keep from infecting them.

* Cover your nose and mouth with a tissue when you cough or sneeze. Put tissue in the trashing after using it, then perform hand hygiene such as washing your hands.

* Avoid touching your eyes, nose and mouth.

 

Health officials say if you become sick with flu, antiviral drugs can be used to treat your illness. They help make flu illness milder, shorten the length of time you’re sick and may also prevent serious flu complications, the CDC said.

 

Bon Secours officials said they encourage masking and diligent hand hygiene practices for both staff and visitors to further protect patients and their families.

 

They also said visitors shouldn't visit patients if they have recently experienced high-risk exposure to someone with a respiratory illness or if they currently have signs and symptoms such as fever, cough, and sore throat. 

Access Retirement Funds In a Disaster

The SECURE 2.0 Act makes it easier for qualified individuals impacted by a federally declared major disaster to access their retirement savings.

 

Eligibility

A taxpayer may be eligible for relief that provides for expanded access to their retirement funds if their principal residence was in a major disaster area and they sustained an economic loss due to that disaster. An economic loss includes, but is not limited to:

 

* Being displaced from the taxpayer’s principal residence.

* Loss or damage to or destruction of real or personal property from fire, flooding, looting, vandalism, theft, wind, or other cause.

* Lost income due to temporary or permanent layoff.

 

Types of relief

These types of disaster relief are available to people who qualify:

 

* May withdraw up to $22,000 from an IRA or other eligible retirement plan.

Amount exempt from the 10 percent early distribution tax.

May repay to a retirement plan or IRA within three years of the distribution.

Distribution may be included equally in income over three years.

 

*A retirement plan may offer increased loan limits and delay repayments.

 

IRS help

For questions and assistance, call the IRS disaster hotline at 866-562-5227.

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