Dominion Energy adds former TVA chief Lyash to board of directors

RICHMOND - Dominion Energy, Inc. (NYSE:D), a utility giant with a market capitalization of $47 billion and a robust dividend yield of 4.8%, announced Wednesday the election of Jeffrey J. "Jeff" Lyash to its board of directors, effective immediately. According to InvestingPro data, the company has maintained dividend payments for 43 consecutive years, demonstrating strong shareholder commitment.

Lyash, 63, the recently retired president and chief executive officer of Tennessee Valley Authority (TVA), will serve on the board’s Safety, Technology, Nuclear, and Operations Committee. He brings over four decades of utility industry experience, with particular expertise in nuclear energy, utility operations, and regulatory matters. This appointment comes as Dominion Energy maintains a Fair financial health rating, with revenue growth of 5.4% in the last twelve months.

During his career, Lyash held leadership positions at TVA, Ontario Power Generation, CB&I Power, Duke Energy, and Progress Energy Florida. He began his energy sector career at the U.S. Nuclear Regulatory Commission in senior technical and management roles.

The appointment aligns with Dominion Energy’s board refreshment strategy, which has added seven new directors since 2019. The current board has an average tenure of 7.4 years.

"Jeff is well-respected by the industry and by civic and elected leaders in his community," said Robert M. Blue, chair, president and chief executive officer of Dominion Energy, in a press release statement.

Lyash has served as chair of both the Institute of Nuclear Power Operations and the Nuclear Energy Institute. He holds a bachelor’s degree in mechanical engineering from Drexel University, where he currently serves as a board trustee.

Dominion Energy provides regulated electricity service to 3.6 million customers across Virginia, North Carolina, and South Carolina, and natural gas service to 500,000 customers in South Carolina. The company generated $14.9 billion in revenue over the last twelve months, though InvestingPro analysis indicates current trading levels exceed Fair Value. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report, offering deeper insights into Dominion Energy’s financial position and growth prospects.

In other recent news, Dominion Energy reported strong financial results for the first quarter of 2025, with earnings per share of $0.93, surpassing Wall Street’s forecast of $0.77. The company also exceeded revenue expectations, bringing in $4.08 billion compared to the anticipated $3.78 billion. In addition, Dominion Energy has entered into an underwriting agreement to sell $1 billion in senior notes, which is part of its strategy to manage its debt portfolio and fund capital programs. In governance-related developments, all 11 director nominees were elected at the company’s 2025 Annual Meeting, and shareholders approved executive compensation on an advisory basis.

Moody’s Ratings has downgraded Virginia Electric and Power Company (VEPCO), a subsidiary of Dominion, and changed Dominion Energy’s outlook to negative, citing uncertain political and economic environments. Despite this, VEPCO’s stable outlook is supported by its financial flexibility. Dominion Energy also declared a quarterly dividend of 66.75 cents per share, continuing its long-standing dividend policy. The company is progressing on its Coastal Virginia Offshore Wind project, which is now 55% complete. These updates reflect Dominion Energy’s ongoing financial and operational activities, providing investors with important insights into the company’s current status.

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