TVA appoints Michael D. Skaggs as Interim President and CEO for one-year term starting April 24, 2026

Tennessee Valley Authority

Skaggs succeeds Donald A. Moul, who previously announced retirement effective July 1, 2026.
Salary set at $500,000 annually; eligible for additional compensation up to $499,000 based on Board-determined objectives.
Removal only for Gross Misconduct; removal for other reasons triggers accelerated salary and full additional compensation.
Skaggs previously served at TVA from 1994 to 2022, including as EVP and Chief Operating Officer.
Offer letter outlines key objectives: energy dominance, rate structure, IRP update, and transition to permanent CEO.

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