Duke Energy reshuffles leadership as CEO of Carolinas retires

CHARLOTTE, N.C. - Duke Energy (NYSE: DUK), a leading American energy company with a market capitalization of $94 billion, today announced a series of leadership changes following the planned retirement of Julie Janson, who will step down as executive vice president and CEO of Duke Energy Carolinas on July 1, 2025. Janson’s retirement marks the end of a notable 37-year tenure with the company. According to InvestingPro data, Duke Energy maintains a strong market position with an impressive track record of 55 consecutive years of dividend payments.

Kodwo Ghartey-Tagoe is set to take over Janson’s role, bringing his 23 years of experience at Duke Energy to the forefront. Ghartey-Tagoe, who currently holds the position of executive vice president, chief legal officer, and corporate secretary, previously managed the company’s utility operations in South Carolina.

Alex Glenn, with nearly three decades at Duke Energy, will succeed Ghartey-Tagoe as the executive vice president and chief legal officer. Glenn’s previous roles include executive vice president and CEO of Duke Energy Florida and Midwest, and senior vice president of state and federal regulatory legal support.

Louis Renjel is appointed as the new executive vice president and CEO of Duke Energy Florida and Midwest, while maintaining his current role as chief corporate affairs officer. Renjel’s background includes executive experience at CSX Corporation, a transportation company based in Jacksonville, Fla.

Additionally, Cameron McDonald will enhance the leadership team by joining the company’s senior management committee as senior vice president and chief human resources officer. David Maltz, currently vice president of corporate legal support and chief governance officer, will expand his duties to include corporate secretary.

Harry Sideris, president and CEO of Duke Energy, expressed gratitude for Janson’s contributions and highlighted the importance of the leadership transitions in supporting the company’s $83 billion capital plan. This plan aims to modernize energy infrastructure, accommodate load growth, and serve expanding communities. InvestingPro analysis shows the company’s solid financial health with a "GOOD" overall rating and strong momentum score of 3.19 out of 4, suggesting robust execution capability for its ambitious plans.

Duke Energy, headquartered in Charlotte, serves approximately 8.6 million electric utility customers and 1.7 million natural gas customers across multiple states. The company is focused on transitioning to a smarter and cleaner energy future, with investments in grid upgrades, natural gas, nuclear, renewables, and energy storage.

These strategic appointments are part of Duke Energy’s ongoing efforts to strengthen its leadership team and are based on a press release statement.

In other recent news, Duke Energy has announced the distribution of its quarterly cash dividends, with common stock shareholders receiving $1.045 per share and Series A preferred stock shareholders getting $359.375 per share. This marks a continuation of the company’s nearly century-long tradition of dividend payments. BMO Capital Markets recently adjusted its outlook on Duke Energy, lowering the price target to $123 from $128 but maintaining an Outperform rating. Analysts at BMO project an increase in Duke Energy’s first-quarter earnings for 2025 to $1.62 per share, up from $1.44 per share in the first quarter of 2024, driven by customer growth and rate relief. Jefferies analyst Julien Dumoulin-Smith has raised the price target for Duke Energy to $133, emphasizing the company’s potential for stable investment amid market uncertainties. Duke Energy has also restored power to over 70,000 customers following severe flooding in Ohio and Kentucky, highlighting its commitment to customer service and safety. Additionally, Harry Sideris has been appointed as the new CEO, succeeding Lynn Good, and will oversee an $83-billion capital plan focusing on infrastructure investments.

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