Richmond-dependent Fortune 500 utility’s longtime chief was battling cancer
Thomas F. Farrell II, the longtime chairman, president and CEO of Dominion Electrical power Inc., died Friday, one particular working day after retiring as the Richmond-based mostly Fortune 500 utility’s executive chair and major chief. Farrell, 66, was battling cancer, in accordance to an announcement from Dominion.
“Tom was a peerless mentor and excellent leader who sought to find modern answers to challenges at Dominion Vitality, in the utility sector and in the neighborhood he referred to as household,” Robert M. Blue, who succeeded Farrell in October 2020 as president and CEO, claimed in a assertion. “In his tenure at the corporation, Tom oversaw an period of prosperity and growth, and a extensive-time period transformation that will have a long lasting impact on clear energy enhancement and on the overall health of the natural environment. Previously mentioned all else, he loved investing time with his wife, his sons and their spouses, and his grandchildren. We will pass up him considerably, and extend our deepest condolences to his loving relatives.”
Farrell’s most cancers had taken a flip for the worse in the latest months, in accordance to Dominion’s statement. Blue grew to become Dominion’s chairman on Thursday, when Farrell retired as executive chair, passing the utility’s management to Blue. According to March Securities and Trade Commission filings, Farrell experienced planned to provide in an advisory part to Blue right up until May well 1.
The unexpected news that Farrell was stepping down as Dominion’s govt chairman arrived on the heels of a March 23 announcement that Farrell was also retiring from Henrico County-primarily based Altria Team Inc.’s board of administrators, which Farrell had chaired considering that April 2020. Farrell’s retirements from the Dominion and Altria boards have been each submitted with the SEC on the exact same day. He had transitioned from Dominion’s president and CEO to executive chair in Oct 2020, top to Blue’s ascension as Dominion’s top rated chief.
1 of the state’s most impressive leaders, Farrell also chaired the condition GO Virginia board, which allocates funding for economic advancement assignments throughout Virginia. He served on the boards of site visitors for Virginia Commonwealth College and the University of Virginia, for which he also served as rector. He held a bachelor’s degree in economics and a law degree from the College of Virginia.
Farrell, who grew up as an Military brat, wrote, funded and created the 2014 movie, “Field of Shed Footwear,” which centered on the 250 teenager cadets from Virginia Navy Institute who fought for the Confederates throughout the Battle of New Current market in 1864.
Dominion’s yearly revenue for 2020 was $14.17 billion. Beneath Farrell’s management, Dominion tripled its philanthropic supplying and arrived near to doubling its earnings per share.
Farrell joined Dominion in 1995 as its basic counsel, getting earlier represented the enterprise as aspect of a staff of attorneys at McGuireWoods. He grew to become its president and CEO in 2006 and was elected chairman of the utility’s board in 2007.
In the latest decades, Farrell led the utility in the direction of a lot more sustainable sources of power, like expansions into photo voltaic and offshore wind.
Very last summer season, Dominion canceled its prolonged-delayed $8 billion Atlantic Coast Pipeline and sold its gasoline transmission and storage business enterprise to Berkshire Hathaway Inc. for almost $10 billion, with Farrell saying that Dominion would be narrowing its target on its utilities small business. As component of a state initiative to shift to carbon-free electrical power generation by 2050, Dominion past yr finished the pilot period of its proposed $7.8 billion, 2,640-megawatt wind farm 27 miles off the coast of Virginia Beach front. Scheduled for completion in 2026, it is prepared to be the nation’s premier offshore wind farm, with at least 180 huge wind turbines.
Farrell also was a prime participant in state and community politics. He served on Gov. Bob McDonnell’s five-person changeover committee and also led the Virginia Governor’s Commission on Increased Instruction Reform. Farrell’s son Peter served a few terms in the Virginia Dwelling of Delegates.
“We are heartbroken. This is an unbelievable decline of a remarkable person,” claimed Farrell’s brother-in-law, Richard Cullen, the previous state lawyer normal and former McGuireWoods chairman, in a statement introduced Friday.
In early 2020, amid neighborhood opposition, Richmond City Council defeated the $1.5 billion Navy Hill downtown redevelopment strategy Farrell experienced spearheaded in an try to replace the getting older Richmond Coliseum.
Among the his lots of civic positions, Farrell chaired the Edison Electric Institute and the Virginia Business Council and was a previous member of the board of trustees for the two the Virginia Museum of Fantastic Arts and the Colonial Williamsburg Basis.
“I know I communicate for my fellow customers of the Virginia Company Council when I categorical my deep disappointment around the passing of Tom Farrell,” explained present Virginia Small business Council Chairman W. Heywood Fralin, chairman of Roanoke-based mostly Healthcare Facilities of The us Inc., in a assertion. “Tom’s contributions to the vitality industry, the commonwealth and the quite a few will cause he supported are unparalleled and generations to occur will benefit from the legacy he leaves driving. We have lost just one of Virginia’s most impactful and compassionate leaders. Without having a question, Tom will be sorely missed. Our ideas and prayers go out to his loved ones and those who knew and loved him.”
“Over his yrs as [Dominion] chairman, Tom formed the board in his graphic – strong and capable, with a keen eye on ethical habits, range and inclusion, community and local community service and innovation,” Robert H. Spilman, direct director of Dominion’s board, added in a assertion. “The commonwealth of Virginia has dropped a sort soul who was abundantly generous to nonprofits supporting the arts and tradition, education and learning and vital group requirements.”
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