Updated: New CEO named at City Utilities

Last edited 12:26 p.m., Aug. 23, 2024 [Editor's note: More information has been added.]

City Utilities of Springfield will have a new president and CEO come this fall.

Dwayne Fulk, a CU employee since 2017, was announced as the utility provider's next leader during a news conference this morning. Fulk is slated to start Nov. 1, and in the interim, he said he'll work with retiring CEO Gary Gibson to transition to the role.

"It's an honor to be entrusted with leading this organization, and I'm excited to work with our team, our customers and our community to navigate the challenges and the opportunities ahead," Fulk said this morning. "Our customers are the heart of everything we do. We are committed to ensuring that you receive the most reliable, affordable, sustainable services available.

"This means focusing on our future power supply, natural gas capacity, economic development and infrastructure."

Kristin Carter, chair of the Board of Public Utilities, which governs CU, said four finalists – two internal and two external – were narrowed down through a search process conducted by Los Angeles-based Korn Ferry (NYSE: KFY). She said more than 30 candidates were screened through the process, and two sets of interviews slimmed the field.

"Given our great reputation in the utility industry, we had a large number of very qualified candidates from all over the United States that applied," Carter said. "We're so fortunate to have exceptional talent in our own backyard that knows our community."

Fulk joined CU in December 2017 as associate general manager and general counsel after 25 years in the legal sector, including most recently serving as a partner at Lathrop Gage LLP’s now shuttered Springfield office, according to past reporting. At CU, he most recently has served as senior vice president and chief legal and economic development officer, a role through which he's been responsible for overseeing developer services, economic development, electric reliability compliance and environmental affairs, among other duties.

Fulk's salary as CU’s president and CEO will be $400,000, according to a news release.

His predecessor Gibson announced in April plans to retire from the organization early next year. Gibson started with CU in 1990 as an intern and in December 2019 took over for the retiring Scott Miller.

As CU's CEO, Fulk will step into the leadership role at an organization that has navigated recent difficulties but also has led growth initiatives.

CU was accused in a recently disclosed investigation by state Auditor Scott Fitzpatrick's office of constitutional violations related to employee retention payments, according to past reporting. One of those retention payments – which the auditor's office said violated the state constitution because they were for duties already performed – went to Fulk.

This summer, CU sued Minnesota-based 3M (NYSE: MMM) for allegedly discharging so-called forever chemicals into the city's water supply.

In recent expansion news, CU completed a nearly $150 million multiyear fiber expansion project. The organization additionally is integral to a $1 billion-$1.2 billion vision for ecological improvements and recreational, cultural and natural amenities for Lake Springfield and the surrounding area around the decommissioned James River Power Plant.