Jay L. Johnson, executive vice president and chief executive officer of Dominion Virginia Power, will retire effective June 1 to take a position as vice chairman of General Dynamics, a Northern Virginia defense contractor. Previously, Johnson had served as president and CEO of Dominion Delivery and senior vice president of business excellence, where he was responsible for the implementation of Six Sigma.

Said Dominion CEO Thomas F. Farrell II: "Jay has been a significant contributor to the Dominion success story. We will miss his insights, but he will bring invaluable skills as a strategist and leader to his new role at General Dynamics."

Added Johnson: "I am moving from one great company to another. And while I am excited about this tremendous opportunity with General Dynamics, the experience that I have gained and the friendships that I have made at Dominion are second to none."

Bacon's wise-acre comment: Nice timing, Johnson. Announce an 18 percent rate increase one day, then blow out of town the next!