McCollum Announces Retirement Effective June 30, 2012

News provided by

Dec 21, 2011, 02:25 ET

CHATTANOOGA, Tenn., Dec. 21, 2011 /PRNewswire-USNewswire/ -- Bill McCollum, chief operating officer of the Tennessee Valley Authority, on Wednesday announced his retirement, effective June 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20100304/TVALOGO)

McCollum came to TVA in 2007 and has responsibility for all of TVA's power generation and transmission operations.

"We have taken the appropriate steps to invest in remixing the generation portfolio and improving the operational skills at all of our plants," McCollum said. "Our human performance tools are making a difference in the delivery of power in a timely and efficient way."

Tom Kilgore, TVA's president and CEO, said, "I appreciate the focus Bill brought to our power fleet, integrating a 'One Fleet' approach and investing in the improvement of our people and processes. TVA is positioned to provide a balanced energy mix in the years ahead."

Kilgore said, "Bill has performed an important role in balancing our generation portfolio, emphasizing employee safety and implementing human performance improvement."

TVA's vision to be a leader in nuclear energy, provide cleaner air with low rates and high reliability remains our direction in the years ahead, Kilgore said.

As a leadership transition occurs with McCollum's retirement next year, Kilgore said the appropriate amount of time would be taken to align the organization and management with TVA's operational goals.

McCollum plans to focus on comprehensive capital project planning for TVA that will support new generation facilities. He also plans to contribute to a strategic overview for expected energy requirements in the future by examining economic, regulatory and mixed power generation needs.

McCollum, who has been responsible for TVA's Fleet operations, worked for 33 years at Duke Energy, serving as group executive and chief regulated generation officer.

The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity for 9 million people in parts of seven southeastern states at prices below the national average. TVA, which receives no taxpayer money and makes no profits, also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.

SOURCE Tennessee Valley Authority