Duke explains abrupt CEO switch to NC regulators

Electricity   Policy
By Emery P. Dalesio on July 11, 2012

RALEIGH, N.C. (AP) — Duke Energy Corp.'s surprise CEO said Tuesday that America's largest electric company dumped Progress Energy Inc. CEO Bill Johnson the same evening it was created in a merger because directors of the two merging corporations worried about Johnson's authoritarian style and being forced to pump billions into a troubled Florida nuclear plant.

Duke Energy CEO Jim Rogers remained CEO after the merger, though the companies had said they planned for Johnson to head the expanded company.

Tags: 
Duke Energy Corp
Bill Johnson
Progress Energy
Jim Rogers
North Carolina Utilities Commission
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