Ousted Duke Energy CEO to head Tennessee Valley Authority

The former head of Progress Energy has been tapped to lead the Tennessee Valley Authority (TVA), the federally owned electric utility announced Monday.

Bill Johnson will helm TVA, which serves 9 million customers in parts of Alabama, Georgia, Kentucky, Mississippi, North Carolina, Tennessee and Virginia. Johnson, who replaces retiring TVA Chief Executive Tom Kilgore, officially starts Jan. 1.

"TVA and the people who work there have had a dramatic positive impact on the quality of life in the Tennessee Valley, and I look forward to being a part of the dynamic team serving the people of the region,” Johnson said Monday in a statement.

In July, Johnson was unceremoniously ousted from his role as CEO of Charlotte, N.C.-based Duke Energy shortly after it merged with Progress, where he had been CEO.

That deal created the nation’s largest utility, but Johnson fell victim to a coup from Duke board members, who installed Jim Rogers — a Democratic supporter instrumental in making Charlotte the site of the 2012 Democratic National Convention — atop the firm.

Duke officials had questioned Johnson's managerial style, according to various reports, calling him too domineering to run the combined Duke-Progress utility.

Sen. Bob Corker (R-Tenn.) offered Johnson advice Monday in a statement.

“TVA is at an important crossroads, and I hope that as Bill Johnson takes the helm, he will focus his efforts on tightly managing the operation and focusing on the strategic decisions and investments that need to be made — all with the knowledge that the economic future of the Tennessee Valley is tied to keeping rates low and ensuring our citizens have access to safe and reliable power,” Corker said.