Tennessee Valley Authority filed SEC Form 8-K: Leadership Update
$TVE
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13, 15(d), or 37 of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 1, 2025
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Joe H. Ritch's appointment as a member of the Tennessee Valley Authority Board of Directors ("TVA Board") ended April 1, 2025, at the direction of the President of the United States. With the departure of Mr. Ritch, Director William J. Renick assumes the role of Board Chair pursuant to the TVA Board's decision on February 13, 2025, nominating Mr. Renick as chair-elect of the TVA Board and stating that he will begin service if "Director Ritch otherwise [is] unable to serve as Chair."
The TVA Board now has four members and, thus, is without a quorum. The TVA Board continues to have all authorities as described in Section 1.6 of the TVA Bylaws to "continue to exercise those powers of the Board which are necessary to assure continuity of operations of [TVA] along the lines established while [TVA] was guided by a quorum of the Board, but shall not have the authority to direct [TVA] into new areas of activity, to embark on new programs, or to change [TVA's] existing direction."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Tennessee Valley Authority | |||||
| (Registrant) | |||||
| Date: April 2, 2025 | /s/ Thomas C. Rice | ||||
| Thomas C. Rice | |||||
| Senior Vice President and Chief Financial Officer | |||||