Dominion's SCANA deal done
Dominion Energy has announced it owns Lexington County-based SCANA.
SCANA CEO Jimmy Addison will retire Feb. 1 at age 58 with an almost $10 million golden parachute.
Dominion said its chief information officer Rodney Blevins will replace Addison as CEO, and SCANA’s name will be changed to Southeast Energy Group.
Former SCANA chief operating officer Keller Kissam was named president in charge of SCE&G’s non-nuclear generation, transmission and distribution.
Dominion said its shareholders will pay Addison nearly $9.4 million, about $3.8 million in deferred pay.
SCANA had created a $115 million trust to pay executives’ severance.
Under a controversial settlement, a similar amount is spposed to be paid to SC Electric & Gas ratepayers and 11 lawyers. They sued SCANA for more than $2 billion they were charged for the abandoned $9 billion nuclear power fiasco.
Also retiring are SCANA senior VP & chief nuclear officer Jeff Archie and VPs Sarena Burch, Kenny Jackson, Henry Barton, Gina Champion and Cathy Love.
Dominion has said it expects to let go another unneeded 600 Lexington County employees.