Santee Cooper President & CEO Announces Retirement

The man in charge of the company that backed out of a major nuclear reactor construction project is retiring.

Columbia, SC (WOLO)– CEO and President Lonnie Carter announced he’s leaving after being in the position for 13 years. Santee Cooper is still facing criticism after the construction of the multi-million dollar nuclear reactor plant was shut down. On Friday, its President and CEO Lonnie Carter said he will be retiring after a 35-year long career with the company.  

“I thank Laurie, my wife and children Emily, Sarah, and Jacob, for their understanding and support… they endured my missing important events and interrupted vacations. Without Laurie, I would have failed miserably. You all know what a great asset she has been for me and for Santee Cooper. She has kept me grounded and been a constant reminder that doing the right thing is alway right no matter what the cost,” Carter said while tearing up at the board meeting. 

Santee Cooper says Carter was not forced to make the decision and that he’s been thinking about doing this for a couple of years.

“No degree of duress. Lonnie knew when we started talking about suspending nuclear construction he said to me, ‘this might be my time to retire.’ He wanted to stay through the construction of those units…We had agreed he would stay until the end of construction when he knew that wasn’t going to happen, he said the retirement might be a good time,” Leighton Lord said, Santee Cooper’s chairman of the board of directors. 

“Together, we have faced many challenges and difficult decisions, but always made the best business decision that we could, all the while balancing many considerations and facts to ensure our customers had low costs, reliable power,” Carter said. 

Santee Cooper executives said they are already interviewing candidates for interim President and CEO. They expect to find a permanent replacement within the next six to nine months. Santee Cooper says Carter will remain available throughout the transition process. Chairman Leighton Lord says whoever fills Carter’s shoes will be handed a thriving company.

“Very good company. A company with some of the lowest power rates in the state of South Carolina, a company that’s still strong in economic development. All the things Santee Cooper has been doing very well,” Lord said. 

Governor Henry McMaster says the decision was up to Santee Cooper, but when pressed about how it will affect the possible sale of the state owned company the Governor said he’s not worried because buyers have expressed interest across the country.

“We have not turned anything down, we have not accepted anything. We’re still talking to people. And you’d really be surprised at some of the folks from way far away who are interested in the economic development of South Carolina, which of course requires electricity,” McMaster said.

Santee Cooper says they do not expect anyone else on the executive board to retire or resign in the near future.