TVA solidifies leadership team

The Tennessee Valley Authorities Board of Directors has announced its current CEO will remain on the job.

Mike Skaggs, who has been interim president and CEO since April, will remain in the job after the board described a strong performance in fiscal year 2026.  Skaggs came out of retirement after 40 years in the utility business, including more than 25 years with TVA.

Skaggs is credited with restoring stability and trust among local power companies, elected officials, industry leaders and TVA employees. 

The utility also announced it will separate the the CEO and president positions.   It was also announced Tom Rice will be TVA's president and chief financial officer.  Rice currently serves as the agency's  CFO.  

Rice has served as TVA’s CFO since January 2025 and has held several leadership positions with the agency since 2018. 

TVA says Rice's financial leadership has helped maintain the agency’s financial health while positioning it to invest more than $13 billion in capital projects over the next three years to meet the region’s growing energy demands.