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TheStreet Open House

Natural Gas Industry Leader Gary Sypolt To Retire From Dominion

Stocks in this article: D

RICHMOND, Va., June 24, 2013 /PRNewswire/ -- Dominion (NYSE: D) announced today that Gary L. Sypolt will retire as executive vice president of the company and CEO of its Dominion Energy business unit on Sept. 1 after a 38-year career. Sypolt is a recognized leader in the natural gas industry, where he has served as an officer or board member for many industry organizations.

"Gary has contributed greatly to the success of our company and the natural gas industry," said Dominion Chairman, President and CEO Thomas F. Farrell II. "He has skillfully led our natural gas transmission, distribution and storage business into a period of significant investment and growth that positions it for even greater success in the future. Gary's leadership skills, strategic insight, integrity and ability to understand issues from all sides have made him invaluable. He will be deeply missed and everyone at Dominion wishes him the best."

The company also announced several other executive changes.Effective July 1:

  • Charles D. "Doug" Holley will retire as vice president–Fossil & Hydro System Operations of the Dominion Generation business unit after 38 years of service. He will be succeeded by Edward H. Baine, who currently is vice president–Fossil & Hydro Merchant Operations. John D. Smatlak, vice president–Fossil & Hydro Technical Services, will add responsibility for Dominion's Fairless and Manchester Street merchant power stations and renewable generating facilities when Baine assumes his new post. Baine and Smatlak will continue to report to J. David Rives, senior vice president–Fossil & Hydro.

Effective Jan. 1, 2014:

  • Thomas R. Bean will retire as vice president–Financial Management of Dominion Generation after 35 years of service.
  • Joseph G. O'Hare will retire as vice president–Financial Management of the Dominion Virginia Power business unit after 34 years of service. Simon C. Hodges, vice president–Financial Management of Dominion Energy, will become vice president–Financial Management of the Energy Infrastructure Group, combining his current responsibilities with those of O'Hare. Hodges will report to Paul D. Koonce, CEO of the Energy Infrastructure Group, the Dominion business group that includes the Dominion Virginia Power and Dominion Energy business units.
  • Christine M. Schwab, vice president and Chief Compliance and Risk Officer, will leave the company after 18 years of service with plans to start a risk advisory practice. Carter M. Reid, senior vice president–Administrative Services and Corporate Secretary, will assume the responsibility of Chief Compliance Officer on July 1. Mark O. Webb, vice president and General Counsel, will assume the responsibility of Chief Risk Officer on Jan. 1.

"These departing executives also have done outstanding work in serving the company, its shareholders, customers and fellow employees," Farrell said. "We thank them for their dedicated service and congratulate them as they move forward to the next phases of their lives."

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