William D. Johnson (CEO)
William D. Johnson | |
|---|---|
 | |
| Born | William Dean Johnson January 9, 1954 |
| Alma mater | Duke University (BA) University of North Carolina at Chapel Hill (JD) |
| Known for | President and CEO, PG&E; President and CEO of TVA; Chairman and CEO of Progress Energy |
William Dean "Bill" Johnson (born January 9, 1954) is an American attorney and businessman. He is a retired president and CEO of the Pacific Gas and Electric Company, as of June 2020.[1]
Early life
[edit]Bill Johnson was born on January 9, 1954. He attended Pennsylvania State University, where he played football as an offensive lineman, but did not earn a degree.[2][3] He later graduated from Duke University summa cum laude with a bachelor's degree in history. He also obtained a J.D. degree from the University of North Carolina at Chapel Hill in 1982.[4]
Career
[edit]After graduating, he served as a law clerk on the U.S. Court of Appeals for the Fourth Circuit. He later worked as a partner in the Raleigh, North Carolina office of Hunton & Williams.[5]
He joined Progress Energy forerunner Carolina Power & Light in 1995. He became president of Progress Energy in 2005, and chairman and CEO in 2007.[6] He remained the chairman, president, and CEO of Progress Energy until the company was bought by Duke Energy, in 2012.[7][8]
Per the merger agreement between Progress and Duke, he was slated to become CEO of the new combined company. Within an hour after the merger closed, he was removed as CEO by the new board, the majority of whom were legacy Duke Energy board members.[9] The Los Angeles Times estimated that Johnson received $44 million as severance pay.[10]
He next served the Tennessee Valley Authority (TVA) for six years before announcing plans to retire, in November 2018, amid some controversy.[11] At their February 2019 meeting, the TVA board of directors announced their selection of Jeffrey Lyash [12] to replace Johnson, effective April 2019. Lyash came to TVA from Ontario Power Generation Inc. (OPG).
On April 3, 2019, Johnson was announced as the new president and CEO of PG&E Corporation, replacing interim CEO John Simon, and garnering "more than twice the base salary" of his predecessor, Geisha Williams.[13]
On April 22, 2020, it was publicly announced that Johnson would be retiring from PG&E.[14]
On June 16 2020, Johnson confessed in court to 84 felony counts of involuntary manslaughter, as PG&E's equipment was the cause of the 2018 Camp Fire in California.
References
[edit]- ^ Penn, Ivan (22 April 2020). "PG&E Chief Executive to Retire in June". The New York Times.
- ^ "Progress Energy Names New CEO, Chairman". WRAL.com. October 12, 2007. Retrieved April 22, 2013.
- ^ "Bill Johnson: leading an energy powerhouse – Charlotte Business Journal". Bizjournals.com. Retrieved April 22, 2013.
- ^ Executive Management: William (Bill) D. Johnson, Progress Energy, accessed January 2011.
- ^ "William Johnson – Forbes". People.forbes.com. April 18, 2012. Archived from the original on December 15, 2009. Retrieved April 22, 2013.
- ^ "List of Public Companies Worldwide, Letter – Businessweek – Businessweek". Investing.businessweek.com. Retrieved April 22, 2013.[dead link]
- ^ "Progress Energy Board of Directors names Johnson Chairman and CEO", Media Release, October 12, 2007.
- ^ Erman, Michael (3 July 2012). "Progress CEO quits, Duke chief to run combined company". Reuters. Retrieved April 22, 2013.
- ^ Flory, Josh. "New CEO Bill Johnson takes rocky path to TVA job » Knoxville News Sentinel". Knoxnews.com. Retrieved April 22, 2013.
- ^ Hsu, Tiffany (July 6, 2012). "CEO-for-a-day parachutes out of Duke Energy with $44 million". Los Angeles Times. Retrieved April 22, 2013.
- ^ Crocker, Brittany; Gaines, Jim. "TVA President Bill Johnson announces plans to retire; board member Eric Satz leaving". Knoxville News Sentinel.
- ^ "TVA - TVA Board Names Jeff Lyash New President and CEO". www.tva.gov.
- ^ "New PG&E CEO to rake in a salary more than double that of Geisha Williams, his predecessor"; Hannah Norman; San Francisco Business Times; Apr. 16, 2019.
- ^ Penn, Ivan (22 April 2020). "PG&E Chief Executive to Retire in June". The New York Times.