KNOXVILLE, Tenn. – The Tennessee Valley Authority (TVA) disclosed a leadership restructuring that keeps stability at the helm of the region’s largest power provider. Board Chair Mitch Graves said Mike Skaggs will continue as chief executive officer, while chief financial officer Tom Rice will take on the role of president effective Monday, Nov. 16.
Roles and responsibilities
Under the new arrangement, Skaggs will focus on strategic leadership, advising the board on major decisions and initiatives that require its approval. He has served as interim president and CEO since April, stepping in after the previous president’s departure.
Rice will oversee TVA’s day‑to‑day operations and execute the board’s strategy. He will report regularly to Skaggs and the board, ensuring continuity in the agency’s mission to provide reliable, affordable electricity across the Tennessee Valley.
Experience of the leaders
Mike Skaggs brings more than four decades of utility industry experience, including over 25 years at TVA. Before retiring in 2022, he held several senior positions, most notably chief operating officer. His return to the agency on an interim basis has been praised for restoring confidence among local power companies, elected officials, industry leaders, and TVA employees.
Tom Rice joined TVA in 2018 and has served in multiple leadership capacities. He was appointed chief financial officer in January 2025 and will retain that title while adding presidential duties. Rice’s financial stewardship has been highlighted as a key factor in TVA’s recent fiscal health.
Board’s perspective
Board Chair Mitch Graves credited Skaggs with bringing stability and rebuilding trust after a period of uncertainty. “Mike has also helped provide process and strategic planning, always with TVA’s mission and our three E’s – energy, environmental stewardship and economic development – as the focus,” Graves said.
The board’s decision reflects a desire to maintain continuity while leveraging Rice’s financial expertise to guide operational execution. Both leaders will work closely to ensure TVA continues to meet the power needs of the eight‑state region while advancing clean‑energy initiatives.
What this means for the region
For residents and businesses across Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina, Virginia and West Virginia, the leadership stability signals that TVA’s long‑term projects – from grid modernization to renewable‑energy integration – will stay on track. The agency’s commitment to affordable rates and reliable service remains a cornerstone of its public‑service mandate.
Stakeholders can expect regular updates from Skaggs and Rice as they implement the board’s strategic plan, which emphasizes energy reliability, environmental responsibility, and economic growth for the valley’s communities.
Original reporting: WAFF 48 Huntsville (news) — read the source article.
