TVA’s Lyash to Retire

TVA’s CEO and President Jeff Lyash announced his intent to retire. 

By Allyson Dix, BCP Managing Editor

 

President and CEO of Tennessee Valley Authority recently announced his intent to retire.

Jeff Lyash began his role in 2019 at the nation’s largest public utility, and according to a press release, announced his retirement publicly on January 31, days after U.S. President Donald Trump said federal workers must return to in-person work by early February, or risk being terminated. A move Trump made on his first day in office.

Remote work, which is the performance of job duties done “from home” or outside the office or work site, exploded during the Covid-19 pandemic beginning in March 2020 in an effort to “stop the spread” of the virus.

According to TVA’s media representative, Adam May, who initiated contact with the Barren County Progress, said TVA has been in telework status since that time.

“This applies to TVA employees whose work does not require them to report to a facility,” May said. “Since then, employees have reported to work at a plant, work site, or home office.”

Scott Fiedler, TVA Media Relations, shared more details on the matter via e-mail:

“Traditionally, TVA has had two primary kinds of workplaces: office buildings in cities and power plants spread across six states in the Southeast, mostly in rural areas. Since the pandemic, the homes of employees able to work remotely have become a third workplace. About 70% of our workforce have always reported to plant, work site, or field location. The remaining are hybrid-eligible telework. Now, at our two main office complexes in Knoxville and Chattanooga, up to one-third of employees assigned to these office locations report daily.”

May told BCP that Lyash had given notification of his retirement to TVA’s board members beginning those conversations “last fall.” When asked for supporting documents of this claim, May stated they were only verbal.

Some have speculated his announcement to retire coincides with Trump’s successful election when he defeated Kamala Harris in a bid for presidency in the 2024 General Election in early November and the return-to-work order Trump has implemented.

However, May said when Lyash was hired in 2019, he told the board he would inform them when he was “seriously considering” retirement.

When asked what date TVA received or discussed the return to in-person work mandate, Fiedler said TVA began reviewing the Executive Order after it was released. Furthermore, Fiedler confirmed TVA submitted its plan of action to the Office of Personnel Management on February 7 for phasing employees back into onsite work.

However, Fiedler pointed out that telework is not where you work but the efficiency of work completed.

“It is not about where you work,” Fielder said via e-mail. “It is about getting the job done. TVA employees have been able to perform at record setting levels, no matter where they work.”

Fiedler said it’s the dedication of the employees who serve the 10 million customers of TVA that led to, for example, meeting two back-to-back years of record setting winter load.

It’s no secret that Trump’s Department of Government Efficient (better known as DOGE) and spearheaded by Elon Musk is currently deep diving into federal institutions to find waste and fraud. Each day, Americans are learning what DOGE is uncovering despite the controversy and opposition.

Part of Trump’s campaign promise has been just that, reigning in the enormous spending by the federal government. One aspect of this effort is the return to in-person work, which is expected to see a reduction in the return of some federal employees, although it’s currently in limbo after a federal judge temporary blocked the buyout program Trump offered in lieu of returning to in-person work.

Lyash’s three-page retirement announcement touts the 20-year business agreements between TVA and Local Power Companies (LPCs) with more than 95% of the region’s 153 LPCs signing on, one of which was local power company, Glasgow Electric Plant Board.

Despite the local legal battles and, at times, vehement controversy, GEPB officially signed onto the 20-year contract with TVA without having a full board vote.

GEPB is among only a couple of power providers positioned to enjoy a competitive advantage to connect with other wholesalers such as TVA.

When it comes dollars, TVA’s annual report, which was released in November 2024, highlights Lyash’s salary. TVA’s media specialist May appeared to downplay the CEO’s income when asked about the $10.5 million, only pointing to the base salary of Lyash when it came to commenting on actual numbers.

“TVA Board set the current CEO salary at $1,227,000 per year, which is in the lowest quartile of utility industry salaries,” May said via e-mail. “CEO compensation includes “At Risk Pay for Performance,” which means if TVA does not meet defined performance goals, the CEO does not earn the performance award.”

According to their annual report, Lyash did receive $10,536,962 in compensation earnings. Fiedler said 89% of Lyash’s pay is at-risk and if TVA doesn’t achieve its goals, Lyash doesn’t earn an incentive.

Back in April 2020, President Trump said Lyash’s pay was “a ridiculous amount of money” during remarks about decisions TVA had made, including closing a Kentucky plant and laying off American workers replacing them with foreign workers.

“So, with that, we’re getting rid of him in one form or another,” Trump said at the time.

Lyash will continue to serve no later than the end of September, which concludes TVA’s fiscal year, according to the January 31 press release.