Virginia Electric and Power Co. announced last week that executive vice president Jack H. Ferguson will be named chief operating officer. President William W. Berry will relinquish that job and assume the title of chief executive officer of the Virginia utility company, taking over in that position from board Chairman T. Justin Moore.
The company said that the changes, which take effect Jan. 1, will spread management responsibilities by putting three men in top executive positions. It is also part of the company's long-term policy for top management succession, according to the company. However, that statement was not meant to indicate that Ferguson, 51, would necessarily succeed Berry, 50, a spokesman said.
Moore was chief operating officer before he became Vepco's chief executive officer five years ago. Berry has been chief operating officer and president since May 1980. Ferguson has been in charge of the utility's power station operations and construction.
Vepco also announced earnings for November of $18.9 million (12.5 cents per share) on revenues of $187.217 million compared with net income of $19.023 million (13.7 cents) on revenues of $175.402 million in November, 1981.
Net income for the 12 months ended Nov. 30 was $274.710 million ($1.96) on revenues of $2.36 billion compared with net income of $234.5 million ($1.75) on revenues of $2.127 for the 12 months ended Nov. 30, 1981.