Tagged: Duke Energy

The North Carolina Utilities Commission spent hours yesterday questioning ousted Duke Energy CEO Bill Johnson.  The former Progress Energy leader says he was stunned by the controversial turn of events that transpired once the two companies merged.

Edward Finley:  There were no issues with respect to who would be the president and who would be the CEO.

Bill Johnson:  No, there were a lot of interesting questions and issues in the hearings, but that was not one of them.

The merger of Duke Energy and Progress Energy was supposed to be a powerful marriage of relative equals, but from the moment they combined, the problems started. The board of the new company ousted one of its new leaders, sparking investigations and cries of betrayal. Host Frank Stasio talks to News & Observer reporter John Murawski about the controversy.

State regulators had some tough questions for Duke Energy’s CEO at a hearing in Raleigh yesterday. They wanted to know why the company switched CEOs as soon as its merger with Progress Energy was completed.

Ed Finley: Mr. Rogers, if you'll come around and be sworn please.

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.