Duke Energy has named Harry Sideris its next CEO, effective April 1 when Lynn Good retires after more than a decade leading the utility holding company.
Sideris has been with Duke and its predecessor firms for decades and is the company’s president. It also was announced that lead independent director Ted Craver will become independent chair of Duke’s board of directors. The former Edison International CEO has been on Duke’s board since 2017.
“After a multiyear and comprehensive CEO-succession process, we are delighted that Harry will become our next president and CEO,” Craver said Jan. 13. “Harry’s nearly three-decade-long record of extraordinary accomplishments makes him uniquely qualified to lead Duke Energy. 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.”
In addition to congratulating Sideris, Craver also praised Good for her tenure as CEO and her nearly 20 years with Duke.
“Her many contributions delivered value to our customers, shareholders and other stakeholders,” Craver said. “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.”
Sideris has been president at Duke since April 2024. He began his 29 years with the utility at Carolina Power & Light, which eventually became Progress Energy before it merged with Duke in 2012. He has led the firm’s electric and gas utilities, and his experience includes a variety of customer, operations and regulatory leadership roles.
“I am honored and excited to assume the leadership of Duke Energy at this dynamic time for our company and industry,” Sideris said. “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.”
During Good’s time as CEO, she enhanced stakeholder engagement, modernized regulatory constructs in multiple states, developed innovative customer solutions, delivered industry leading safety and operations, and transformed the company into a pure-play portfolio of regulated utility businesses.
“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,” Good said. “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.”
In a filing the firm made Jan. 13 at the Securities and Exchange Commission, it said the board had approved an annual base salary of $1.3 million for Sideris, a short-term incentive opportunity of 150% of his base salary, and a long-term incentive opportunity equal to 750% of his annual base salary.
The document also noted that Good was retiring and that was “not the result of any disagreement regarding any matter relating to the corporation’s operations, policies or practices.”
