Dominion Energy Chief Financial Officer Mark McGettrick is retiring after a 38-year career at the Virginia-based utility holding company.
McGettrick will retire as CFO on November 1, according to the release. McGettrick will assist his successor, senior vice president-Mergers & Acquisitions and treasurer Jim Chapman, for two months and then retire outright on Jan. 1, 2019.
“Dominion Energy’s shareholders, customers and employees have benefited greatly from Mark McGettrick’s decades of exemplary service to the company,” Dominion CEO Thomas Farrell II said in a statement. “As chief of our generation unit, he led a buildout in Virginia that has helped improve the reliability of the electric service Dominion Energy provides to our utility customers in Virginia and North Carolina. As CFO, Mark has spearheaded and overseen tremendous capital growth across all of our businesses. In his time as CFO, our asset base has nearly doubled and our annual dividend rate has more than doubled. Mark has been outstanding in every way, and we will miss him.”
McGettrick joined the company in 1980. During his career, he held a variety of management positions in distribution design, accounting, financial planning, customer service and generation. He was named president of the services company in 2002 and chief executive officer of the generation operating unit in 2003. In June 2009, he was promoted to chief financial officer, where his responsibilities have included treasury, accounting, tax, investor relations, risk management, business planning and financial analysis.
“Jim Chapman comes in as CFO with a wealth and depth of experience in the finance industry,” Farrell said. “Jim’s unique skill set of knowledge and agility has been on full display in our recent acquisitions of Carolina Gas Transmission, Questar Corporation and a larger stake in Iroquois. His promotion is part of a longstanding succession plan to fill top jobs at Dominion Energy.”
Chapman, 49, came to Dominion Energy in 2013 after more than 20 years in investment banking and corporate finance, principally related to the utility and energy sector. Among his roles, he was managing director and head of Asia Pacific Power & Utilities Investment Banking at Barclays plc, as well as holding similar senior roles at Barclays and its predecessor firm, Lehman Brothers in New York and overseas. Chapman earned a bachelor’s degree in history and political science from Auburn University and an MBA from the University of Virginia’s Darden School of Business.