Dominion Resources Paper

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Formation of VEPCO The purpose of this paper is to provide the history and background of Dominion Resources. The paper will discuss the company’s organizational structure; identify the current CEO and other senior officers. It will display the company’s five year monthly stock price and evaluate the company’s overall financial success. The paper will provide recommendations for improvements within the organization structure and predict the company’s future financial success. Dominion Resources date back as far as the Colonial age timeframe. The establishment of Dominion was during the improvement navigation and commercial development of the Appomattox James River. This navigation project helped to propel Dominion into the company …show more content…

He began to change the focus of the company. Berry stop construction toward substations and emphasize focus toward transmission. Dominion’s strategic strategy is to become a leading distributor of electricity, natural gas and services in conjunction with energy to the Midwest, Mid-Atlantic and Northeast regions of the United States. Currently Dominion operates as one of the top largest manufacturers and transporters of electricity in the nation. “According to Dominion’s website the company, estimates 23,600 megawatts of energy generation, 6,400 miles of electric transmission lines, 10,900 miles of natural gas transmission, including storage pipelines. Dominion provides energy and operates as one of the nation’s largest natural gas storage systems to customers in 10 states within the U.S., covering 947 billion cubic feet of natural gas storage capacity (dom.com).” Thomas E. Capps became CEO of Dominion Resources in 1990. While under his leadership Dominion sold their natural gas distribution operations. However, Dominion acquired three natural gas companies in the year of 1995. In 1996 Dominion combined with Chesapeake Paper Products to construct a cogeneration facility to expand natural gas …show more content…

Farrell II, elected in April 2007 continues to strategically align the company for success. As Dominion evolves in the energy industry there are two important financial objectives of the CEO, this includes the profit maximization and wealth maximization for its investors and continued success. In order to meet these goals, the company has implemented an organizational structure chart. Dominion Resources is broken down into three operating sectors: Administrative and Finance, Energy Infrastructure and Generation. The structures described contains layers of managers, however the decision making flows downward from the top senior officers. Reporting directly to Farrell is CFO Mark McGettrick, Chief Administrator Carter M. Reid, Senior VP of Regulatory Affairs Thomas P. Wohlfarth, CEO of Energy Infrastructure Group Paul D. Koonce and CEO Dominion Generation Group David A. Christian. Dominion recognizes people and functions do not operate entirely independently, however all parts of the organization need each other to function sufficiently and successfully. Recommendations on improving the organizational structure are eliminating three of the six senior executive positions that reports directly to the CEO Tom Farrell. Along with combining several of the operational sectors and downsizing several management level

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