Business & Economy
3:55 pm
Tue July 3, 2012

Duke Energy Finalizes Merger

Duke Energy is now the largest utility in the country. But the company is moving forward without its expected leader.

Gurnal Scott: Duke Energy held a conference call with reporters to mark the merger's completion. And board member Anne Maynard Gray had another announcement.

Anne Maynard Gray: Bill Johnson has resigned as president and chief executive officer of the combined company by mutual agreement with the board.

Gray didn't give any specifics but credited Johnson with playing a major role in the merger process. New CEO Jim Rogers says he realizes there are those in the new company who are loyal to Johnson.

Jim Rogers: We have a very experienced team from both companies. And I look forward to working with everyone to integrate this company.

Duke Energy cleared its last regulatory hurdle when South Carolina approved the merger plan yesterday.