Duke Energy names David Fountain as new North Carolina president

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RALEIGH, N.C. - David Fountain, senior vice president of enterprise legal support for Duke Energy, has been named Duke Energy'’s state president in North Carolina, effective Sept. 1, 2015.

Fountain succeeds Paul Newton, who announced his retirement earlier this year.

As state president, Fountain will continue to build on Duke Energy’'s long-standing commitment to North Carolina customers by pursuing programs and initiatives that will ensure safe, reliable and environmentally responsible energy at competitive rates.

In this capacity, Fountain will be responsible for advancing the company's regulatory initiatives, while managing state and local regulatory and governmental relations, economic development, community affairs, water strategy, hydroelectric licensing and lake services. Fountain will continue to be based in Raleigh.

"David'’s decades of experience have prepared him well for this important role," said Lloyd Yates, executive vice president, market solutions, and president, Carolinas region. "More than 3.2 million customers across North Carolina depend on us. David understands that responsibility. In his new role, he will continue to advocate for policies and practices to meet the energy needs of our customers and North Carolina in cost effective, environmentally sound ways.”"

Fountain joined Carolina Power & Light in Raleigh in 2000 as an associate general counsel, providing support for the merger with Florida Progress Corporation, which formed Progress Energy. He was promoted to deputy general counsel for commercial transactions in 2003 and to general counsel for corporate services in 2008. Fountain served as vice president of Progress Energy’'s legal department from 2009 until the close of the merger between Duke Energy and Progress Energy in July 2012, when he assumed his current role.

Before joining the company, Fountain practiced law at Smith, Helms, Mulliss & Moore, a predecessor firm to McGuireWoods LLP in Charlotte, N.C.

Fountain earned Juris Doctor, Master of Business Administration and Bachelor of Arts degrees from the University of North Carolina at Chapel Hill where he was a Morehead-Cain Scholar. He is a member of the North Carolina Bar Association and is also a graduate of Leadership North Carolina.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.