Duke Energy Prepares for Leadership Transition as Lynn Good Steps Down

Duke Energy Corp. has announced that CEO and board chair Lynn Good will retire on April 1, paving the way for Harry Sideris, a 29-year veteran of the company, to assume the top leadership role.

Good has led the Charlotte-based energy giant since July 2013, during which time the company’s electric utilities expanded their customer base from 7.2 million to 8.4 million across six states. She has also served as Duke’s board chair since 2016, following a four-year tenure as the company’s CFO.

Sideris, currently president of Duke’s electric and gas utilities division, was promoted to this role approximately a year ago, gaining oversight of operations and customer service. Over his decades-long career, which began at Progress Energy prior to its acquisition by Duke in 2012, Sideris has held key positions in customer relations, operations, and regulatory affairs. His promotion to CEO comes after his success as executive vice president of customer experience.

Ted Craver, Duke’s lead independent director, highlighted Sideris’ extensive experience and readiness to lead the company during a period of significant growth and evolving customer needs. Craver noted that Sideris’ expertise in operations, customer engagement, and regulatory matters positioned him as the ideal candidate for the role. He expressed confidence in Sideris’ ability to build on the company’s current momentum and congratulated him on his new position.

Craver, a former CEO and chairman of Edison International and a Duke director since 2017, will also assume the role of board chair on April 1, succeeding Good.

Sideris’ promotion was widely anticipated after his appointment as president last year. Duke signaled his potential candidacy in 2022, particularly as longtime executive Steve Young prepared for retirement after more than 40 years with the company. This announcement comes shortly after Pinnacle West Capital Corp. disclosed that Ted Geisler will succeed Jeff Guldner as its CEO on the same date, April 1.

On January 13, Duke’s shares (Ticker: DUK) rose to $106.14, leaving the company’s market capitalization at approximately $82 billion. The stock has remained relatively stable over the past six months.

With Sideris at the helm, Duke Energy is poised to continue its trajectory of growth and innovation, maintaining its position as one of the most prominent energy providers in the United States.

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