Duke names Young as CFO

CHARLOTTE, N.C. – Duke Energy on Aug. 7 named Steve K. Young executive vice president and chief financial officer to replace Lynn J. Good, who became president and chief executive officer on July 1.

Young has served as vice president, controller and chief accounting officer since 2005, and continued to hold that position after the close of the merger between Duke Energy and Progress Energy in July 2012.

“Steve has a deep understanding of our business. He is forward-thinking, focused on results and collaborates well across the organization,” said Good. “He will maintain a sharp focus on helping the company meet its financial goals.”

Young, 55, joined Duke Power in 1980 and over his career has led a number of key functions, including system planning and operating, rates and regulatory affairs, and as CFO of Duke Power. He has also been accountable for the company’s interaction with the utility commissions in North Carolina and South Carolina and the Federal Energy Regulatory Commission.

He earned a Bachelor of Arts degree in business administration from the University of North Carolina at Chapel Hill and has completed the Wharton Advanced Management Program. Good said a successor to lead the controller’s office will be named in the near future. In the interim, Young will continue to lead that business.