Dominion Begins Review, Replaces CFO as Shares Disappoint (1)

US utility Dominion Energy Inc. replaced its chief financial officer and is initiating a “top-to-bottom” business review that could include selling assets after its shares dropped 14% this year.

The review will look at the Richmond, Virginia-based firm’s strategic actions, its capital allocation and regulatory options, the company said Friday in its third-quarter earnings release.

“Our relative share performance has not met our expectations, including over the past several years,” Chief Executive Officer Bob Blue said in the statement. “Therefore, I have initiated a ‘top-to-bottom’ business review with the goal of ensuring that Dominion Energy is best positioned to ...