Chairman, President and CEO
Dominion Resources Inc.
Headquartered in Richmond, Va., Dominion is one of America's largest energy companies, with a market capitalization of more than $40 billion and operations in 12 states. In 2013, Dominion was ranked among the "100 Best Corporate Citizens" by Corporate Responsibility magazine, which graded the nation's 1,000 largest public companies based on their efforts in the areas of environment, climate change, human rights, philanthropy, employee relations, financial performance and governance. Dominion was also ranked among the world's most admired companies, according to Fortune magazine. Fortune's 2013 list of most admired electric and gas utilities ranked Dominion second.
In addition, during Farrell's tenure Dominion has been awarded both the Secretary of Defense Employer Support Freedom Award, the highest recognition given to employers for their support of employees who serve in the National Guard and Reserve, and United Way's national Summit Awards for exceptional volunteerism and community impact.
Under Farrell's leadership, Dominion Virginia Power, the company's electric utility serving much of Virginia and northeast North Carolina, has invested about $2 billion in environmental upgrades and safeguards to its operating facilities. Investments at Dominion Energy have more than doubled the size of the company's gas infrastructure assets in Midwestern and mid-Atlantic states. During that time Dominion has achieved double-digit growth in operating earnings per share and in the company's dividend rate. Dominion has also doubled its philanthropic giving since Farrell became CEO.
Farrell joined Dominion in 1995 and served in several senior management positions at the holding company and its subsidiaries. Among his first accomplishments was leading Dominion's expansion into international electric generation and distribution markets. He directed a successful public offer for East Midlands Electricity in the United Kingdom in 1997 and participated in Dominion's growth as a major U.S. power producer in Argentina, Bolivia, Peru and Belize.
As Dominion refocused itself domestically in 1999, Farrell led the company's simultaneous divestiture of foreign assets and the successful acquisition of another major U.S. energy company, Consolidated Natural Gas, the following year. The combined company became the nation's largest integrated natural gas and electric power company. Today, Dominion is one of the nation's largest power generators, with approximately 23,600 megawatts of production capability. It is one of the nation's largest and most efficient nuclear power operators with six reactors in two states. The company's Dominion Virginia Power electric utility franchise is ranked one of the nation's most efficient. Dominion's natural gas gathering, processing, transmission and storage businesses lie in the heart of the prolific Marcellus and Utica Shale production regions.
Farrell was named president and CEO effective Jan. 1, 2006; he was elected chairman of Dominion's board of directors in April 2007.
The past chairman of EEI, Farrell is the presiding director of Altria Group Inc. In addition, Farrell chairs Colonial Williamsburg's Board of Trustees, and also has served on the Board of Visitors at the University of Virginia, where he was Rector. He is a member of the Board of Visitors at Virginia Commonwealth University and the Board of Trustees of the Virginia Museum of Fine Arts. Farrell is chairman of the Institute of Nuclear Power Operations. Farrell also was a member of a Council on Foreign Relations independent task force that produced the June 2008 report, "Confronting Climate Change: A Strategy for U.S. Foreign Policy."
Farrell has led the Virginia Governor's Commission on Higher Education Reform and has served as co-chairman of the Governor's five-member transition committee, as a member of the Governor of Virginia's Advisory Council on Revenue Estimates, as chair of the Virginia Business Council and of the Management Roundtable and as a member of the State Council of Higher Education for Virginia.
Farrell has appeared on CBS, CNBC, Fox Business News and other national networks, testified before Congress, spoken at major industry forums, and contributed opinion pieces to national and regional newspapers and magazines.
Farrell received both his B.A. in economics and law degree from the University of Virginia.