06/26/2019 | Press release | Distributed by Public on 06/26/2019 14:33
CHARLOTTE, N.C. - Duke Energy's board of directors today announced the appointment of DowDuPont executive vice president Nicholas Fanandakis as a new board member, effective today.
Fanandakis served as DuPont's chief financial officer from 2009 until 2017, when DuPont merged with Dow Chemical Co., creating DowDuPont. He continued to serve as CFO of the DuPont legal entity within DowDuPont until earlier this year.
'Nick Fanandakis is a customer-focused, highly experienced senior leader who has helped guide his company in a complex, constantly changing industry,' said Lynn Good, Duke Energy's chairman, president and CEO. 'His insights and knowledge will be valuable to our board as Duke Energy similarly moves forward in a rapidly transforming industry.'
Fanandakis will join two Duke Energy board committees: finance and risk management committee, and audit committee.
He began his career at DuPont in 1979 in the petrochemicals department, followed by a variety of positions across the company before assuming a series of leadership roles, focused primarily on the industrial solutions, chemical and applied biosciences markets.
Fanandakis was instrumental in DuPont's transformation, overseeing the business portfolio's reshaping, including the acquisition of Danisco, sale of the coatings business, and spinoff of the chemical division.
He also played a key role in DowDuPont's post-merger, recently concluded division into three independent, publicly traded companies: Dow (former materials science division), Corteva Agriscience (agriculture division) and DuPont (specialty products division).
Fanandakis is retiring in July after a 40-year career at DuPont and later DowDuPont.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states - North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states - North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.