Brian Savoy named chief financial officer
Steve Young named chief commercial officer
CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced executive appointments for its chief financial officer and chief commercial officer positions, effective Sept. 1, 2022.
Brian Savoy, currently executive vice president and chief strategy and commercial officer, will become executive vice president and chief financial officer, succeeding Steve Young.
As CFO, Savoy will oversee the company’s financial function, including the controller’s office, treasury, tax, financial planning, risk management, and insurance. He will also have responsibility for corporate development and enterprise strategy.
Prior to his current role, Savoy served as senior vice president and chief transformation and administrative officer. Previously, he served as chief accounting officer and controller. He joined Duke Energy in 2001 as a manager in the company’s energy trading unit, and has since held a number of leadership positions throughout the company.
"Brian’s deep financial acumen and broad business experience have prepared him well for this role, allowing for a seamless transition,” said Lynn Good, chair, president and CEO. “Brian will play a critical role in advancing our clean energy strategy to cost-effectively achieve net-zero while delivering sustainable value to our customers and shareholders.”
Steve Young, currently executive vice president and chief financial officer, will become executive vice president and chief commercial officer.
In his new role, Young will have responsibility for commercial renewables, the natural gas business unit, enterprise technology and security, business ventures and development, distributed energy solutions, regulated renewables development, and strategies to transform the company’s generation and transmission assets to achieve its net-zero carbon emission goals.
Throughout his Duke Energy career, which began in 1980, Young has held numerous leadership roles in areas including finance, bulk power and system planning and operations. Before becoming CFO in 2013, he served as Duke Energy’s senior vice president and chief accounting officer and controller.
“Steve is an incredible leader who has played an instrumental role in shaping Duke Energy into the company we are today,” said Good. “In his new position, he will use his vast experience to ensure alignment between the functions in his organization and our business strategy.”
The company also announced the following changes:
- Kodwo Ghartey-Tagoe, executive vice president, chief legal officer and corporate secretary, will add the Administrative Services organization to his current responsibilities.
- Harry Sideris, executive vice president, customer experience, solutions and services, will broaden his responsibilities to include the Supply Chain organization.
“The changes we’re announcing today reflect the depth of leadership at the company and will further position us for success as we execute the industry’s largest clean energy transition,” said Good.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Neil Nissan