Mary Baldwin University Board of Trustees Chairwoman Lyn McDermid ’95 will retire as senior vice president and chief information officer at Dominion to become chief information officer for the Federal Reserve System.

In her new role, effective February 1, McDermid will oversee national information technology for the Federal Reserve System, the nation’s central bank. She will succeed Lon Zanetta, who is retiring. McDermid chairs the board of directors of the Federal Reserve Bank of Richmond, and is chair of the board of Richmond’s technology council, RichTech. She has given 30 years of service to Dominion.

Mary Baldwin University Board of Trustees Chairwoman Lyn McDermid will become CIO for the Federal Reserve System

“Lyn consistently has shown herself to be an inspiring, caring, and committed leader as well as a wise counsel,” said Dominion Chairman, President, and Chief Executive Officer Thomas F. Farrell II. “Her accomplishments in industry and community organizations are equally impressive. She is universally respected for all that she has done and we have been extremely fortunate to have Lyn as part of our organization. We wish her all the best as she moves into a critical role serving the interests of our nation. Dominion’s loss is the country’s gain.”

McDermid joined what is now Dominion Virginia Power in 1982. After holding various positions in the Engineering and Construction Department, she was named director of administrative services in 1986. She was promoted to vice president of information technology and chief information officer in 1998, and was named to her most recent position in 2001.

She is a member of the board of directors of the CIO Forum and a member of the board of trustees of VirginiaFIRST Robotics, serves on the VirginiaFIRST Robotics Advisory Board, and is a lay member of the Third District Committee of the Virginia State Bar. She is serving her second three-year term as a member of the Dean’s Executive Advisory Council for the Robins School of Business at the University of Richmond.

She has served on several state advisory boards, including the Chief Information Officer Advisory Board, the Virginia Research and Technology Advisory Council, and the Critical Infrastructure Protection Work Group, as well as the Foundation Board of J. Sargeant Reynolds Community College. She was named to Computerworld’s list of “Premier 100 IT Leaders for 2004,” won the 2008 Executive Women in Business Achievement Award, and received the 2010 Outstanding Woman Award in the Business category from the YWCA of Richmond.

McDermid received her bachelor’s degree in business from Mary Baldwin and earned her master’s degree in business administration from the University of Richmond. She was also the first woman to enter the Apprentice Program at the Newport News Shipyard, where she completed the Patternmaker’s program.