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Lloyd M. Yates Executive Vice President – Market Solutions & President – Carolinas Region

Lloyd Yates serves as executive vice president of market solutions and president of Duke Energy’s Carolinas Region. He is responsible for aligning customer-focused products and services to deliver a personalized end-to-end customer experience that positions Duke Energy for long-term growth. In addition, he has responsibility for the profit/loss, strategic direction and performance of the company’s regulated utilities in North Carolina and South Carolina.

Yates has more than 30 years of experience in the energy industry, including the areas of nuclear generation, fossil generation and energy delivery. He previously served as executive vice president of regulated utilities for Duke Energy, where he had responsibility for the company’s utility operations in six states. He also had responsibility for federal government affairs, as well as environmental and energy policy at the state and federal levels. As executive vice president of customer operations for Duke Energy, he led the transmission, distribution, customer services, gas operations and grid modernization functions to approximately 7.2 million electric customers and 500,000 gas customers.

Prior to the Duke Energy/Progress Energy merger in July 2012, Yates served as president and chief executive officer for Progress Energy Carolinas. He was promoted to that position in July 2007, after serving for more than two years as senior vice president of energy delivery for Progress Energy Carolinas. Prior to that, he served as vice president of transmission for Progress Energy Carolinas. Yates joined Progress Energy predecessor, Carolina Power & Light, in 1998, and served for five years as vice president of fossil generation. Before joining Progress Energy, he worked for PECO Energy for 16 years in several line operations and management positions.

Yates earned a bachelor's degree in mechanical engineering from the University of Pittsburgh and a master's degree in business administration from St. Joseph's University in Philadelphia. He attended the Advanced Management Program at the University of Pennsylvania Wharton School and the Executive Management Program at the Harvard Business School.

Yates serves on several community, state and industry boards. In 2014, he was elected president and chairman of the Association of Edison Illuminating Companies. He is also a director for Marsh & McLennan Companies Inc., a global professional services firm. Yates and his wife, Monica, have two daughters.

Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 7 million customers in the Southeast and Midwest. The company also distributes natural gas in Ohio and Kentucky. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK.

October 29, 2014