Tom Kilgore, chief executive officer and president of the Tennessee Valley Authority since 2005, announced his retirement effective at the end of 2012.
"I look forward to working more on my farm,” says Kilgore. “And I am proud of TVA’s focus on low rates, clean, reliable energy and enhancing the economic growth in the Tennessee Valley."
Before joining TVA, Kilgore held the position of president and CEO at Progress Energy Ventures.
The search for a replacement is under way, says the TVA Board of Directors. “All of us across the Tennessee Valley appreciate the vision and leadership that Tom has brought to TVA, says Bill Sansom, Board Chairman. “Our job is to identify the next experienced leader for TVA.
Until a replacement is hired, Kilgore will remain in the position.
TVA is a federally funded utility established in 1933 by Congress to develop systems of delivery for electricity and management of natural resources. Today, TVA maintains 29 hydroelectric projects, along with a pumped-storage facility and several externally owned dams.