IRVING, Texas, Dec. 8, 2020 – Vistra (NYSE: VST) today is announcing the appointment of Jim Burke as president and chief financial officer, effective immediately. Mr. Burke, who has been with Vistra and its predecessor companies since 2004, has been serving as executive vice president and chief operating officer since 2016. Vistra’s outgoing CFO, David Campbell, will be leaving to join Evergy Inc., a Missouri-based regulated utility, as its chief executive officer following a transition period through the end of the year.
“Jim’s vast knowledge of the industry and expansive understanding of our company will prove invaluable,” said Curt Morgan, Vistra’s chief executive officer. “During his time here, Jim has led most of Vistra’s teams, giving him unique insight and knowledge of our company and the CFO position will round out Jim’s experience. Jim is highly respected both inside and outside of our company and his strong business and financial acumen, combined with the talents of our existing finance organization, will position Vistra for continued growth and success as we transform our portfolio. The board of directors and I are thrilled to appoint Jim as our new president and CFO.”
Morgan continued, “I also want to thank David for his leadership and contributions to our company. The entire Vistra family wishes him much success.”
In his new capacity, Mr. Burke will assume broad responsibility for the company’s accounting, risk, internal audit, treasury, tax, planning, M&A, and investor activities, along with overseeing the critical technology services function. Mr. Burke will continue to report to Mr. Morgan.
Mr. Burke said, “I’ve been fortunate to work at this incredible company for 16 years, but there’s never been a more exciting time to be part of this team. The industry is changing quickly and Vistra is well-positioned to lead the energy transformation – I’m looking forward to serving our customers, our people, and our shareholders in a new role.”
With Mr. Burke’s move to CFO, his former position of COO is being eliminated and the various operational functions reporting to that position are being realigned within the organization. The retail and generation businesses, including development of the zero-carbon Vistra Zero generation portfolio, will report to Mr. Morgan. Prior to this announcement the Vistra board of directors initiated discussions with Mr. Morgan, which are ongoing, to extend the term of his employment agreement in recognition of his commitment to lead the company as it transitions to a low-to-no emissions fleet comprised primarily of natural gas, renewables, and energy storage while growing the company’s retail business.
Jim Burke Bio
Mr. Burke is a 20-year veteran of the electricity industry. Prior to his role as Vistra’s COO, he previously served as chairman and CEO of TXU Energy, the leading competitive retailer in Texas and a subsidiary of Vistra and its predecessor company. Mr. Burke led TXU Energy from August 2005 to October 2016 after joining in late 2004 as senior vice president of TXU Energy’s residential markets.
Before to joining TXU Energy, he was president and COO of Gexa Energy, and vice president of residential marketing then senior vice president of consumer operations with Reliant Energy.
Prior to his experience in competitive electricity markets, Mr. Burke worked at The Coca-Cola Company for six years, both domestically in the juice division of The Minute Maid Company and internationally in the expansion of the juice business through Coca-Cola Bottlers in Latin America, South Africa, and Hong Kong. Prior to Coca-Cola, he was a management consultant for Deloitte & Touche Consulting.
Mr. Burke is a licensed certified public accountant and has also earned the designation as a chartered financial analyst. He is a graduate of Tulane University, earning a bachelor’s degree in economics and a master’s in business administration in finance and general management.
Outside of his responsibilities at Vistra, Mr. Burke currently serves as a board member of the Nuclear Energy Institute and as an advisory board member for the Tulane University Energy Institute. He is also a member of the board for the United Way Foundation of Metropolitan Dallas and the Ursuline Academy of Dallas.