Report: Progress CEO To Head Duke Energy After Merger

By Triangle Business Journal

BusinessWeek is reporting that Duke Energy plans to name Progress Energy chief executive Bill Johnson the CEO of the combined company after Duke's proposed $13 billion purchase of the Raleigh-based power company.

The possibility of naming Johnson, 56, CEO is a clear plus for Duke, which recently lost one of its top internal candidates for the job, in the proposed deal.

Current CEO and Board Chairman Jim Rogers is 63 and faces retirement in two years. When Duke bought Cinergy for $9 billion in 2005, Dukeâ¿¿s then Chairman and CEO Paul Anderson held on to his chairman title and Rogers, CEO and chairman of Cinergy, took over as CEO for the combined company.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/triangle/news/2011/01/09/progress-CEO-may-head-duke-energy.html?ana=thestreet

Copyright bizjournals.com 2010

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