PPL promotes 2 execs, including 1st female electric distribution boss
After announcing two big deals last month, Allentown-based PPL Corp. introduced the “new PPL,” a utility company focused on the U.S. market with a strong balance sheet and the flexibility to invest in sustainable energy.
On Monday, PPL announced a couple of key executive moves as it undergoes the transformation.
First, the utility holding company named Gregory Dudkin, who has been president of the PPL Electric Utilities subsidiary since 2012, as its executive vice president and chief operating officer.
Succeeding Dudkin as president of PPL Electric Utilities will be Stephanie Raymond, who joined PPL Electric in 2011 and has been vice president of distribution operations since 2018. Company spokesperson Ryan Hill confirmed Raymond will be the first woman to lead PPL Electric Utilities, which distributes electricity to about 1.4 million customers in central and eastern Pennsylvania, including Lehigh and Northampton counties.
The two promotions are effective April 12. That’s the same day Wendy Stark will start as senior vice president, general counsel and corporate secretary at PPL, succeeding Joanne Raphael, who is retiring June 1 after a 35-year career with the company.
“As we strategically reposition PPL to focus squarely on high-performing energy companies in the U.S., the promotions of Greg and Stephanie will help us build on our strong performance record and create additional value for all stakeholders,” PPL President and CEO Vincent Sorgi said.
Sorgi was the company’s most recent chief operating officer before he took over as CEO on June 1. Hill confirmed the company has not had a chief operating officer since Sorgi was elevated to the top post.
The moves come a couple weeks after PPL announced it was selling its United Kingdom business, Western Power Distribution, to National Grid for $10.9 billion and acquiring National Grid’s Rhode Island utility business, The Narragansett Electric Co., for $3.8 billion.
The sale of Western Power Distribution is expected to close within four months, while the acquisition of Narragansett could take a year.
In his new role, Dudkin will oversee the process to secure regulatory approval for PPL’s planned purchase of Narragansett and, once the deal closes, will lead efforts to integrate the electricity and gas delivery business into PPL.
Gregory Dudkin, PPL Electric Utilities president since 2012, has been named executive vice president and chief operating officer of PPL Corp. Stephanie Raymond will succeed Dudkin as president of PPL Electric Utilities.
Dudkin, who will report to Sorgi, will oversee PPL’s regulated utility operations in the United States, with the heads of PPL’s Pennsylvania and Kentucky utility operations reporting to him.
With his promotion, the PPL board of directors approved an annual base salary for Dudkin of $740,000, effective April 12, according to a U.S. Securities and Exchange Commission filing Monday. Dudkin, 63, made $590,000 in base salary in 2019 as president of PPL Electric Utilities, according to SEC filings.
In her new role, Raymond, 50, will oversee electricity delivery and customer service to 1.4 million homes and businesses in eastern and central Pennsylvania and lead PPL Electric Utilities’ investments in infrastructure and technology.
Raymond joined PPL Electric Utilities a decade ago as director of project and contract management and spent four years as the company’s vice president of transmission and substations. In her current role as vice president of distribution operations, PPL said Raymond has overseen smart grid improvements that have avoided more than 1 million customer power outages since 2015.
“I am thrilled that Stephanie will lead PPL Electric Utilities forward in delivering for our customers and the communities we serve,” Sorgi said. “Her strong leadership skills, extensive experience and deep knowledge of the business make her well-qualified for her new role, and I am confident PPL Electric Utilities and its customers will be in good hands.”