Duke Energy Board of Directors Appoints Harry Sideris as President and Chief Executive Officer, Effective April 1

Duke Energy (NYSE: DUK) announced Jan. 13, 2025, that its
board of directors appointed Harry Sideris, president and chief executive
officer and a member of the board of directors, effective April 1, 2025.

Sideris, currently
president, will succeed Lynn Good, who will retire from her management and
board roles at the company on April 1 after more than two decades of service.

Lead independent director Ted Craver will become independent
chair of the Duke Energy Board of Directors, also effective April 1.

Craver, who has served on the company’s board since 2017, is
the retired chairman, president and CEO of Edison International, an electric
power holding company serving 15 million people in Southern California.

“After a multiyear and comprehensive CEO-succession process,
we are delighted that Harry will become our next president and CEO. Harry’s
nearly three-decade-long record of extraordinary accomplishments makes him
uniquely qualified to lead Duke Energy,” Craver said.

Craver added, “In an era of growth and rapidly evolving
customer demands, Harry’s experience in operations, customer service, strategy,
and stakeholder and regulatory engagement makes him the ideal choice for CEO.
On behalf of the board, I want to congratulate Harry and look forward to him
and his leadership team building upon the company’s strong momentum.”

Craver continued, “The board is extraordinarily appreciative
of Lynn’s leadership during her tenure as CEO and her nearly 20 years with the
company. Her many contributions delivered value to our customers, shareholders,
and other stakeholders. Thanks to her leadership, Duke Energy today is an
industry-leading, fully regulated utility company well-positioned to thrive in
the years ahead. Lynn’s legacy is defined by the power of her strategic course,
an unwavering commitment to our customers and shareholders, industry-leading
operations and safety, excellence in stakeholder engagement and the team she
built.”

“I am honored and excited to assume the leadership of Duke
Energy at this dynamic time for our company and industry,” said CEO-elect
Sideris. “I’d also like to thank Lynn for her leadership and guidance over the
years. The valuable position that we’ve attained under her leadership, the
opportunities before us, and our employees’ steadfast commitment to our
customers and shareholders make our future bright.”

Sideris, who has served as president of Duke Energy since
April 2024, is a 29-year veteran of the company.

As president, Sideris has successfully led Duke Energy’s
electric and gas utilities, including operations, customer services and
delivery, economic development, regulatory and legislative affairs, and grid
and generation strategy.

He began his career at Progress Energy (formerly Carolina
Power & Light) prior to its merger with Duke Energy in 2012. His experience
includes a variety of customer, operations, and regulatory leadership roles.

Before becoming president, Sideris’ leadership roles
included executive vice president of customer experience, solutions and
services, president of Duke Energy Florida, vice president of environmental,
health and safety and vice president of power generation for fossil/hydro
operations in the western regions of North Carolina and South Carolina.

Good said, “It has been the honor of a lifetime to lead this
company for the last 11 years and to serve with an industry leading team.
Working with communities, policymakers, and other stakeholders, I’m so proud of
what we’ve accomplished. Duke Energy is in a strong and enviable position and,
under Harry’s leadership, will surely seize upon the opportunities ahead to
deliver for our customers, communities, investors, and other stakeholders.”

During her tenure as CEO, Good guided the company through a dynamic
external environment while delivering for customers and investors.

Hallmarks of her tenure as CEO include enhancing stakeholder
engagement, modernizing regulatory constructs across multiple states,
developing innovative customer solutions, delivering industry-leading safety
and operations, and transforming the company into a pure-play portfolio of
regulated utility businesses.

Company officials said she established herself as a respected
leader in the utility industry and the broader business community.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered
in Charlotte, North Carolina, is one of America’s largest energy holding
companies.

The company’s electric utilities serve 8.4 million customers
in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and
collectively own 54,800 megawatts of energy capacity.

Its natural gas utilities serve 1.7 million customers in
North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

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