Theodore F. Craver Jr.
Theodore F. Craver, Jr.
|Residence||Los Angeles, California, U.S.|
|Alma mater||University of Southern California|
|Known for||Chairman, President and Chief Executive Officer of Edison International|
Theodore F. Craver, Jr. is an American business executive. He is the retired Chairman, President and Chief Executive Officer (2008-2016) of Edison International, a public utility holding company listed on the New York Stock Exchange with $13 billion in revenues and $57 billion in assets.
Financial Services Industry (1973-1996)
- Craver worked for Security Pacific National Bank from 1973 to 1980 in the International Studies Section of the Economics Department, and later in the Foreign Exchange Department.
- He worked for Bankers Trust Company from 1980 to 1984 in various capital markets sales and trading roles in the Los Angeles, New York and Hong Kong offices.
- Craver worked for First Interstate Bancorp from 1984 to 1996. He served as EVP and Chief Financial Officer of the wholesale banking subsidiary (1986-1991) and EVP and Corporate Treasurer at the parent company (1991-1996). As Corporate Treasurer, he was responsible for treasury and funding functions of the 13 subsidiary banks, asset and liability management, investment management of $10 billion bank portfolio and $300 million venture capital portfolio, Bank Broker Dealer, and bank M&A.(19
Energy and Utilities (1996-2016)
Craver joined Edison International (NYSE:EIX) in 1996 as Treasurer of Edison International and Southern California Edison. He became the Chief Executive Officer of Edison Enterprises in 1999, charged with the restructuring of Edison's competitive retail electric business. He served as Chief Financial Officer of Edison International from 2000 to 2004. From 2005 to 2007, he served as Chief Executive Officer of Edison Mission Group, Edison International's Independent Power Producer.
Craver was elected a director of Edison International in October 2007, President in April 2008, and chairman and Chief Executive Officer in August 2008. He retired as Chairman and CEO in September 2016.  Accomplishments during his tenure as CEO included: moved EIX from industry median to top quartile in 5-year Total Shareholder Return; doubled annual capital investment in electric infrastructure resulting in doubling rate base and earnings per share of the regulated utility; and increased dividends 57%. He led a comprehensive strategic repositioning of Edison International's business portfolio, whereby the company exited the independent power generation business, repositioned the regulated utility, Southern California Edison, to deemphasize investment in electric generation and focus investments on the transmission and distribution of electricity and modernizing the grid. He initiated a comprehensive Operational Excellence program to improve the customer experience, improve quality and efficiency of operations, and reduce costs and customer rates.
In 2009, Craver successfully negotiated for a solar energy contract for Edison "to install solar panels on unused commercial rooftops across Southern California." The contract also allows the company to "solicit other solar-power companies to install similar panel arrays and sell the power back to Edison, up to an additional 250 megawatts." Craver suggested this would strengthen the electrical grid in Southern California and create jobs.
Electric Industry Board Memberships
During his term as CEO of Edison International, Craver served on the board of directors of the Electric Power Research Institute  (the industry's R&D arm), the Institute of Nuclear Power Operations (the industry's nuclear generation self-regulatory body), the Edison Electric Institute (the electric industry's trade organization), and the Electric Drive Transportation Association (an association dedicated to advancing electric drive transportation). Craver served as Chairman of Electric Power Research Institute (2011-12) and of the Edison Electric Institute (2014-15). 
Public Company Boards
- Duke Energy Corporation (March 2017 to present). Non-executive director, chairman of the Audit Committee
- Wells Fargo & Company (January 2018 to present). Non-executive director, chairman of the Finanace Committee
- Edison International (2007-2016). Chairman of the Board (2008-2016)
- Health Net, Inc. (2004-2016). Non-executive director; chairman of the Audit Committee 5 years, chairman of Nominating & Corporate Governance Committee 5 years.
Other Business Affiliations
- Blackstone Group (June 2017 to present). Senior Advisor to Blackstone's global Infrastructure Fund
- Bain & Company (September 2017 to present). Senior Advisor
- Economic Advisory Council of the Federal Reserve Bank of San Francisco. (May 2015 to present).
- Craver serves on the Advisory Board of the Smithsonian National Museum of American History (2014 to present).
- Board of Trustees of the Autry Museum of the American West (2004 to present). Vice-chairman of the Board.
- Executive Board, Western Los Angeles County Council, Boy Scouts of America (2018 to present).
- Trustee Emeritus, California Chapter of The Nature Conservancy.
Education and Certifications
Theodore F. Craver, Jr. graduated from the University of Southern California, where he received a Bachelor of Arts degree in Economics and International Relations (1974) and a Master of Business Administration (1977).. Craver earned a CERT certificate in Cybersecurity Oversight from the National Association of Corporate Directors (2018).
- Electric Light & Power, Large Utility CEO of the Year (2014)
- Edison Electric Institute, Distinguished Leadership Award (2016)
- Boy Scouts of America: Americanism Award, Distinguished Eagle Scout Award
Craver resides with his wife in Los Angeles, California.. He is an Eagle Scout (1967).
- "Corporate Governance: Theodore F. Craver Jr". Health Net. Retrieved January 26, 2016.
- "Theodore F. Craver Jr". National Museum of American History. Retrieved January 26, 2016.
- "Theodore (Ted) F. Craver Jr.: Chairman, President and Chief Executive Officer". Edison International. Retrieved January 26, 2016.
- "Edison wins approval for solar panel installation". L.A. Biz. June 19, 2009. Retrieved January 26, 2016.
- "Board of Directors". Electric Power Research Institute. Retrieved January 26, 2016.
- "Theodore F. Craver Jr. joins Federal Reserve Bank of San Francisco's Economic Advisory Council". Federal Reserve Bank of San Francisco. May 20, 2015. Retrieved January 26, 2016.
- "CEO Council: Theodore F. Craver Jr". The Wall Street Journal. Retrieved January 26, 2016.
- "2012 CEO Compensation: #374 Theodore F Craver Jr". Forbes. Retrieved January 26, 2016.