Share
Duke Energy named Lynn Good its chief financial officer on Tuesday, replacing David Hauser, who will become chairman and chief executive of FairPoint Communications.
Good, who will become Duke's first female CFO, had been group executive and president of Duke's commercial businesses for the past 18 months. She had served as executive vice president and chief financial officer at Cinergy before its 2006 merger with Duke.
Duke's CFO has broad financial responsibilities, including accounting, balance sheet management and overseeing risk-control policies. The position is one of eight direct reports to chairman and chief executive Jim Rogers.
Rogers, in a statement, praised Good's work overseeing the commercial units.
Despite Duke's 26 percent drop in first-quarter profits, Good said she is “inheriting an incredibly strong balance sheet, and Job 1 will be preserving that balance sheet and strong credit ratings.”
A former partner with the international accounting firm Deloitte & Touche, based in Cincinnati, she joined Cinergy in 2003.
Hauser went to work for Duke in 1973, rising to his current position in 2006.
Rogers said Hauser has “helped lead Duke through some of its most challenging times, most notably the collapse of the energy markets following the Enron bankruptcy in late 2001.”
At Charlotte-based FairPoint, Hauser will replace chairman and chief executive Eugene Johnson, who will retire July 1.
FairPoint, which provides local and long distance telephone and broadband services, owns local exchange companies in 18 states. Hauser acknowledged operational and financial concerns surrounding FairPoint, which has been showered with customer complaints since it bought Verizon Communication's landline service in northern New England last year.
“My primary focus will be to address these concerns in quick succession and empower our team to seek and implement solutions,” he said.
