John T. Herron
Duke EnergyAbout John T. Herron
Independent director of Duke Energy since 2013; age 71. Former President, CEO, and Chief Nuclear Officer of Entergy Nuclear with more than three decades in nuclear operations. Currently chairs Duke’s Operations and Nuclear Oversight Committee and serves on the Finance and Risk Management Committee. No current public company directorships; independence affirmed by the Board.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Entergy Nuclear (Entergy Corp.) | President, CEO & Chief Nuclear Officer | 2009–2013 | Led nuclear operations; direct responsibility for risk management and cybersecurity |
| Entergy Nuclear | Various nuclear leadership roles | 2001–2009 | Oversaw station operations across multiple sites |
| U.S. Nuclear Stations (various) | Nuclear operations roles | Began 1979 | Deep operational expertise in nuclear safety and reliability |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ontario Power Generation | Director | Not disclosed | Crown corporation board service; not a U.S. public company |
| Institute of Nuclear Power Operations (INPO) | Director (prior) | Not disclosed | Industry safety oversight body |
Board Governance
- Independence: Non-employee directors determined independent under NYSE/SEC standards; Herron is independent .
- Committees: Chair, Operations & Nuclear Oversight; Member, Finance & Risk Management .
- Committee meeting cadence (2024): Finance & Risk Management – 4; Operations & Nuclear Oversight – 4 .
- Attendance: Board met 7 times in 2024; overall director attendance ~99%; all directors >75% and attended the 2024 Annual Meeting; independent director executive sessions held at five meetings .
- Governance quality: Board committees 100% independent; hedging/pledging prohibited; clawback policy; stock ownership and retention requirements; director overboarding cap of four other public boards without approval .
Fixed Compensation (Director)
| Year | Cash Fees ($) | Committee Chair/Member Detail | Other Compensation ($) | Components of Other |
|---|---|---|---|---|
| 2024 | 155,000 | Not itemized; amount reflects role as Committee Chair/member | 8,756 | $256 Business Travel Accident Insurance; $8,500 charitable matching; $0 other perqs |
- Deferral elections: Herron not listed among directors who deferred 2024 cash compensation .
Performance Compensation (Director Equity)
| Grant | Grant Date | Award Type | Shares/Units | Grant Date Fair Value ($) | Vesting | Performance Metrics |
|---|---|---|---|---|---|---|
| Annual stock retainer | May 2024 | Fully vested common stock | 1,699 shares | 175,000 | Fully vested at grant under 2023 LTIP; director equity cap $750,000 including cash | None (director equity is not performance-based) |
- Directors may elect to defer stock or cash into the Directors’ Savings Plan (phantom investments including DUK stock) .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Private/nonprofit boards | Ontario Power Generation (director); INPO (prior director) |
| Potential interlocks/conflicts | None disclosed; independence affirmed annually by the Board; related person transactions overseen by Corporate Governance Committee |
Expertise & Qualifications
- Nuclear operations, safety, and reliability; extensive risk management and regulatory expertise .
- Cybersecurity oversight within nuclear operations .
- Utility customer understanding and environmental/regulatory acumen .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Right to Acquire within 60 Days | Units Representing Common Stock |
|---|---|---|---|---|
| John T. Herron | 31,934 | <1% | 0 | 31,934 (phantom units; not equity) |
- Stock ownership guidelines: Minimum of 5x annual Board cash retainer ($625,000) or retain 50% of vested annual equity; all directors were in compliance as of Dec 31, 2024 .
- Hedging/pledging: Prohibited for directors and related persons; short sales, derivatives, and margin/pledge accounts disallowed .
Governance Assessment
- Board effectiveness: Herron’s chair role directly aligns with Duke’s large nuclear fleet and persistent >90% nuclear capacity factor (26th consecutive year), strengthening operational oversight and safety culture .
- Alignment: Balanced director pay with meaningful equity retainer; compliance with stringent ownership guidelines and anti-hedging/pledging enhances alignment .
- Independence & conflicts: No related-party transactions disclosed; independence affirmed; director compensation overseen by an independent committee with an independent consultant (FW Cook) that does not serve management, mitigating conflicts in pay decisions .
- Attendance & engagement: Near-perfect Board attendance and regular executive sessions; robust shareholder engagement reaching ~40% of outstanding shares supports investor confidence in governance .
RED FLAGS: None disclosed specific to Herron. Company-wide policies prohibit hedging/pledging and provide clawbacks; no related-party transactions for Compensation Committee; director overboarding policy in place and compliant .
Signals: Chairing Operations & Nuclear Oversight with deep nuclear pedigree is a positive governance signal for risk oversight; absence of other public boards reduces potential interlocks; ownership guideline compliance and equity retainer reinforce alignment .