TVA president, CEO announces retirement
Less than a year after he was named president and CEO of the Tennessee Valley Authority, Don Moul told members of the board of directors he will be retiring effective July 1.
Moul’s announcement also comes less than a month after President Donald Trump sent a memorandum to TVA Board of Directors instructing the board to establish a maximum total annual compensation limit of $500,000 for all of its employees.
Moul reportedly made $5.7 million in 2025 to lead the country’s largest public utility.
“TVA’s seven-figure compensation packages are inconsistent with other public sector leadership roles, where the president of the United States is paid $400,000 annually and the highest- paid governor in the nation earns roughly $254,000,” the White House stated in announcing Trump’s memo to the TVA board. “This action brings the TVA’s leadership pay into alignment with comparable positions in the Federal government.”
Before Moul was named president and CEO of TVA, he served as the utility’s vice president and chief operating officer.
Moul took over for Jeff Lyash, who retired in 2025 after being denied a pay raise in 2023 and 2024.
Lyash reportedly made $10.5 million in 2024 and was the highest paid federal employee.
When Moul was COO for the utility in 2024, his total compensation was reportedly $5 million, which included a $2.9 million performancebased payout.
“The board appreciates Don’s service to TVA, its employees and the people of the Tennessee Valley region,” TVA Board Chair Mitch Graves stated. “Under his leadership, TVA has had strong operational and financial performance delivering reliable, affordable, American energy that helps communities across our seven states prosper.”
Before joined TVA in June 2021, Moul was executive vice president and chief nuclear officer at NextEra Energy.
No timeline has been given by the TVA board as to when it plans to name the utility’s next CEO.
The board’s next scheduled quarterly business meeting is set for May 22 in Guntersville.
