Dominion Energy is getting a new CEO, with Thomas F. Farrell transitioning to a new role as executive chair effective Oct. 1, the energy giant announced Friday.

Farrell will continue to serve as the chairman of Dominion's board of directors, according to a news release. Robert M. Blue, Dominion's executive vice president and co-chief operating officer, will also start Oct. 1 as the company's president and CEO.

Blue will report to Farrell.

Diane Leopold, executive vice president and co-chief operating officer, is also getting a promotion, serving as Dominion's sole COO. She'll report to Blue, while Edward H. "Ed" Baine is being promoted to president-Dominion Energy Virginia, reporting to Leopold.

"One of my goals as CEO was to build a strong leadership team and a long-term succession plan," Farrell, who was promoted to president and CEO in 2006 after joining the company in 1995, said in a statement. "Today's announcement is the next step in that process."

He added: "There is no established timeframe for my role as executive chair, and I look forward to continuing to serve the company on behalf of our shareholders, customers and communities. I will be particularly focused on continuing to develop our strategic plan and Dominion's leadership in the new clean energy economy."

Blue, a former policy director for then-Gov. Mark Warner, joined Dominion in 2005. Leopold, meanwhile, started at the company in 1995 and is the chairwoman of the American Gas Association. Baine joined the company that same year.

This month Dominion Energy and its partner, Duke Energy, abandoned the $8 billion Atlantic Coast Pipeline project after it reached a regulatory dead end.

The decision ended a six-year effort to build the 42-inch-wide natural gas pipeline through the heart of Virginia to connect gas shale fields in West Virginia with markets in southeastern Virginia and eastern North Carolina.

(This is a developing story. It will be updated.)

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