DPL Chief to Step Down

DPL(DPL Quote) said CEO James V. Mahoney will step down this year.

The Dayton, Ohio, power company said Mahoney will also give up his spot on the board. He joined DPL in January 2003 as president of DPL Energy, a wholly owned subsidiary responsible for wholesale and retail energy sales and marketing. DPL said Mahoney "intends to fulfill a longstanding goal by becoming more directly involved in shaping the debate on broader national and global issues affecting the entire energy industry."

The company said that Mahoney helped strengthen the balance sheet through debt reductions, refinancings and stock buybacks and sale of a $1 billion private equity portfolio.