Wednesday, May 23, 2018
Business

After quick ousting at Duke Energy, Bill Johnson named CEO of Tennessee Valley Authority

The Tennessee Valley Authority on Monday named former Progress Energy CEO Bill Johnson the new head of its $11 billion, federally owned electricity operation.

Johnson, 58, replaces Tom Kilgore, 64, the TVA's first president and CEO. Kilgore will remain in the position until Johnson takes over Jan. 1.

"We are very fortunate to have someone of Bill Johnson's caliber as TVA's next president and CEO," TVA board chairman Bill Sansom said in a news conference at its Knoxville headquarters. "Bill is a seasoned CEO with deep experience leading a company with a diverse energy portfolio — from coal and gas, to nuclear, hydro and renewables."

Johnson was set to lead the new Duke Energy after it merged with Progress Energy in July. But the new Duke board of directors fired Johnson after about 20 minutes in the position, later citing his handling of Progress' fleet of nuclear power plants.

In particular, the board noted the troubles at Progress' broken Crystal River nuclear plant, Johnson's lack of transparency concerning the plant's operation and his overall leadership style.

The 36-year-old Crystal River nuclear plant has sat idle for three years because of a botched maintenance and repair job and might never return to service. Some repair estimates top $3.5 billion.

Duke gave Johnson $44 million severance package. TVA will pay him $950,000 a year plus up to $3 million in other compensation.

TVA provides electricity for business customers and distribution utilities that serve 9 million people in parts of seven southeastern states at prices below the national average.

The corporation also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.

Ivan Penn can be reached at [email protected] or (727) 892-2332.

Comments
Birchwood owner will open a three-story restaurant and bar at St. Petersburg pier

Birchwood owner will open a three-story restaurant and bar at St. Petersburg pier

ST. PETERSBURG — Chuck Prather, owner of the Birchwood in St. Petersburg, returned from his daughter’s Maine wedding this week with an exciting announcement of his own. On June 7 the St. Petersburg City Council is expected to sign off on him being on...
Updated: 2 hours ago
St. Petersburg’s Jabil expands in Israel with new innovation center

St. Petersburg’s Jabil expands in Israel with new innovation center

St. Petersburg-based contract electronics company Jabil announced Wednesday it has expanded in Israel by opening an Optics Technology Innovation Center.The 6,560-square-foot complex is in Haifa, Israel’s third-largest city. "Our Optics Innovation Cen...
Updated: 2 hours ago
New restaurants on the horizon: Metro Diner and Zoes Kitchen in Tampa, Trophy Fish and Oak & Stone in St. Pete

New restaurants on the horizon: Metro Diner and Zoes Kitchen in Tampa, Trophy Fish and Oak & Stone in St. Pete

OPEN NOW: BAHAMA BUCK’SFeel a shiver? Just in time for Florida’s sultry summer, Bahama Buck’s opened this week in Trinity with an avalanche of sno. The 2,346-square-foot island-inspired shop opened at 8815 Mitchell Blvd. with more than 91 flavors of ...
Updated: 3 hours ago
Lee Roy Selmon's original Tampa restaurant is closing, marking the end of an era

Lee Roy Selmon's original Tampa restaurant is closing, marking the end of an era

Lee Roy Selmon’s, the restaurant that paid homage to the community icon who rose to fame as a Tampa Bay Buccaneer and grew to become a popular civic leader, will shutter the doors of its original location on Tampa’s Boy Scout Boulevard in...
Updated: 3 hours ago
At Bay 3, developers of Tampa’s Armature Works transform old industrial space into new co-work offices

At Bay 3, developers of Tampa’s Armature Works transform old industrial space into new co-work offices

TAMPA — The name of the new Bay 3 co-working space at the Armature Works goes back to World War I, when the red-brick warehouse overlooking the Hillsborough River was the maintenance barn for Tampa Electric’s streetcar system.As the name suggests, it...
Updated: 7 hours ago
Comcast may outbid Disney for Twenty-First Century Fox

Comcast may outbid Disney for Twenty-First Century Fox

Associated PressPHILADELPHIA — Comcast may make an offer for Twenty-First Century Fox, potentially putting it in a head-to-head bidding war with Disney. Comcast Corp. on Wednesday did not provide specific details on a bid, other than to say that it w...
Updated: 8 hours ago
Brunch-based alcohol will be available at First Watch’s new Orlando location

Brunch-based alcohol will be available at First Watch’s new Orlando location

ORLANDO — The popular breakfast and brunch chain First Watch will be opening a new restaurant in Orlando that will add cocktails, beer and wine to the menu. The new concept restaurant, set to open on Memorial Day at 1448 N Alafaya Trail, will be 1,00...
Updated: 8 hours ago
Humana hiring 100 for phone sales, Medicare enrollment assistance

Humana hiring 100 for phone sales, Medicare enrollment assistance

Kentucky-based health care provider Humana is hiring 100 phone sales employees in Tampa Bay. The new hires will field sales calls and offer enrollment assistance for Humana’s Medicare plans and other products.The positions, which are being added to h...
Updated: 9 hours ago
Downtown St. Pete Ford’s Garage and Yeoman’s to open Wednesday

Downtown St. Pete Ford’s Garage and Yeoman’s to open Wednesday

ST. PETERSBURG — Ford’s Garage, a car junkie’s haven, has proven to be popular eatery across the state.Now it has a chance to drive customers to its seats in St. Petersburg. The restaurant opens its ninth location downtown Wednesday at 200 First Ave....
Updated: 9 hours ago
Target: New Tampa, Clearwater stores part of company-wide makeovers

Target: New Tampa, Clearwater stores part of company-wide makeovers

Target is renovating more than 1,000 stores by the end of 2020, including two SuperTarget locations in New Tampa and Clearwater.The Clearwater store’s makeover — which the corporation calls ‘‘reimagining" — just wrapped up, according to Target spoke...
Updated: 9 hours ago