Senior Vice President and Chief Financial Officer
David Faranetta is senior vice president and chief financial officer for TXU Energy. Faranetta’s team provides insightful and broad financial leadership to the company and is responsible for the company’s accounting, planning, risk management/controls, load forecasting and energy procurement functions. In addition to the financial responsibilities, Faranetta also leads the Large Business Operations team that provides customer care, billing and support services to TXU Energy’s largest customers.
Prior to joining TXU Energy, Faranetta was senior vice president and chief financial officer of Luminant, a competitive power generation subsidiary of Energy Future Holdings Corp. With Luminant since 2000, he was previously vice president and principal financial officer of Luminant Power where he directed the financial planning, reporting and risk management functions for the business unit. Faranetta has also served in various management roles in the financial function of Luminant.
Before joining Luminant, he was with equipment manufacturer Ingersoll-Rand Company. As controller of the Rotary Drill Division, he was responsible for all aspects of accounting, reporting and planning. Other key financial positions included plant controller of the Rock Drill Division’s Roanoke, Va., plant and the manager of financial analysis for the construction and mining group.
Faranetta holds a bachelor’s degree in economics from Moravian College and a master’s degree in business administration from Lehigh University.