PLAINFIELD, Ind., June 9 /PRNewswire-FirstCall/ -- Duke Energy has named Michael W. Reed president of its Indiana service region. Reed will be responsible for the company's Indiana regulatory work, governmental relations, and economic development and community affairs.
He replaces Jim Stanley, who is transitioning to senior vice president of power delivery for the company's U.S. operations. Reed is currently commissioner of Indiana's Department of Transportation. He will join Duke Energy on June 14.
"Mike brings an impressive combination of business and regulatory experience to this position," said James Turner, president and chief operating officer of Duke Energy's Franchised Electric & Gas businesses. "We need leaders who know how to run a business and serve their customers well. He will lead our Indiana team as it works with state regulators, legislators, customers and other stakeholders."
Reed, of Cicero, has led the state's DOT since February 2009, where he was responsible for approximately 4,000 employees and a $2 billion annual budget to construct and maintain the state's road system. He reported to Indiana Governor Mitch Daniels and is a member of his cabinet.
Prior to his work with the state, Reed held various leadership positions at GTE/Verizon.
He was the senior state executive for the Indiana, Texas and Kentucky operations. In that role, he had overall responsibility for customer service, delivery, construction, maintenance, large and medium customer account management, budgets, and regulatory and legislative relations.
Early in his career at GTE, he was the first quality director for the company's largest subsidiary, covering 13 Midwestern states. Additionally, he directed annual revenue and expense budgets of more than $1 billion as budget and finance director for GTE's Midwestern operation.
Reed has a broad base of utility experience. He served as executive director of the Indiana Utility Regulatory Commission from 2006-2009, where he managed the commission's electricity, water, sewer, natural gas, pipeline safety and consumer utility industry divisions.
"Mike's broad knowledge of the utility industry and his experience managing large, diverse organizations makes him an ideal fit for this position," said Jim Rogers, chairman, president and chief executive officer of Duke Energy.
Duke Energy (NYSE: DUK) is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com. To learn more and contribute to the discussion about the energy issues of today and the possibilities of tomorrow see www.sheddingalight.org.
SOURCE Duke Energy