Stephen G. De May
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State President – North Carolina
Stephen De May is the North Carolina president of Duke Energy, serving approximately 3.4 million electric retail customers and 746,000 natural gas customers. He is responsible for the financial performance of Duke Energy's regulated utilities in North Carolina and managing state and local regulatory and government relations, and community affairs. He also has responsibility for advancing the company's rate and regulatory initiatives, water strategy, hydroelectric licensing and lake services. He assumed his current position in November 2018.
De May previously served as senior vice president, tax and treasurer for Duke Energy. As treasurer, he was responsible for financing and capital markets activities, liability management, liquidity and cash management, long-term investments and managing Duke Energy's relationships with the major credit rating agencies. As head of tax, he was responsible for federal, state, local and international tax compliance, audits, research, structuring and tax planning, property tax, income tax accounting, tax information systems and Sarbanes-Oxley compliance with respect to tax matters. He has also led the investor relations function, where he monitored trends in the investment markets and maintained key relationships with debt and equity investors, analysts and financial institutions.
Stephen joined Duke Energy in 1990 as a director of the company's former real estate development business, Crescent Resources, where he had responsibility for managing the finance and accounting functions. Before joining Duke Energy, Stephen worked in the tax practices of Deloitte & Touche and Price Waterhouse in Raleigh and Charlotte.
In 1994, he joined Duke Energy's corporate finance group and managed that function after the Duke Energy/PanEnergy merger until stepping into the leadership role of the business unit finance group. In business unit finance, Stephen financed the growth of Duke Energy's many lines of gas and electric businesses across an international footprint that included North and South America, Australia and Europe. During 2004 and 2005, he served as vice president of energy and environmental policy, the company's primary public policy role, where he led position development and advocacy for the leading energy issues of that time. Stephen was named assistant treasurer after the Duke/Cinergy merger in 2006 and treasurer in 2007. He was treasurer for 11 years and, at various times, he also led the risk management, investor relations and corporate tax functions.
Stephen graduated from the University of North Carolina at Chapel Hill with a Bachelor of Arts degree in political science and a Master of Business Administration degree from the McColl Graduate School of Business at Queens University of Charlotte. He is a certified public accountant in North Carolina. In 2010, he completed the Advanced Management Program at the Wharton School of the University of Pennsylvania.
A native of Long Island, N.Y., De May and his wife, Linda, have three children.