NASHVILLE, Tenn. — The Tennessee Valley Authority (TVA), the largest public utility in the United States, has appointed Don Moul as its new CEO. This decision comes amid heightened interest in the federal entity, sparked by recent developments under President Donald Trump’s administration. Moul steps in to succeed Jeff Lyash, who announced his decision to step down by September, earlier this year.
Moul, currently the executive vice president and chief operating officer since June 2021, was elevated to the dual role of president and CEO by TVA’s board. The announcement arrives shortly after Trump unexpectedly dismissed one of the utility’s board members, Michelle Moore. This action has left the board with five active members and four current vacancies.
Before his new appointment, discussions arose among Tennessee’s Republican U.S. senators, who emphasized the importance of appointing an “interim CEO trusted by the president” before selecting a long-term leader. These views reflect ongoing geopolitical and strategic interests in the utility’s management.
Moul is recognized for his leadership in advancing nuclear energy technology and holds experience as a licensed senior reactor operator. He is set to assume his new responsibilities on April 9. In a release, Moul expressed readiness to maintain the momentum established by Lyash, emphasizing ongoing investments in new energy generation, grid strengthening, and enhancing system dependability.
The appointment follows recent debates centered on a project involving the construction of a small modular reactor, which some argue is hindered by excessive studies and hurdles. Senators Marsha Blackburn and Bill Hagerty recently published an op-ed, cautioning against appointing a new CEO from within TVA, which they argue limits opportunities to recruit top-tier leadership talent from outside.
Advocates of nuclear energy expansion argue it is crucial for meeting increasing corporate energy demands while minimizing carbon emissions that exacerbate climate change concerns. On the other hand, there are voices like Stephen Smith from the Southern Alliance for Clean Energy, who view the senators’ comments as “reckless interference,” stressing the importance of readiness and safety of new nuclear technologies.
Criticism extends to TVA’s decision to modernize its infrastructure by replacing older coal plants with natural gas, a move that has drawn ire from clean energy advocates.
TVA fell under the spotlight during Trump’s presidency when the former board chairman and a board member were ousted, reversing a policy on outsourcing technology jobs. Trump called for Lyash’s replacement and suggested capping the CEO salary at $500,000. Contrary to misperceptions, TVA clarifies that it is not federally funded. Instead, it relies entirely on revenues from electricity customers.
The utility disclosed that CEO compensation ranks among the lowest quartile in the power industry, highlighting that a significant portion of Lyash’s earnings consisted of pension and performance-based incentives. It has been emphasized by TVA officials that Lyash’s decision to retire was independent of political factors and that his consideration of retirement began long before the recent discussions.