Duke Energy Names New CEO

by Christopher Freeburn | June 18, 2013 10:51 am

duke Duke Energy Names New CEO[1]Within a few weeks, Duke Energy (DUK[2]) will have a new CEO[3].

The company announced on Tuesday that current CFO Lynn Good has been tapped to succeed outgoing CEO Jim Rogers at the end of this month. Good will also be named to Duke’s board of directors, the Associated Press noted.

Good has served as the company’s CFO since 2009.

Rogers announced plans to retire earlier this year. He had been Duke’s CEO since 2006 and led the company through its $32 billion merger with Progress Energy. He will continue to serve as chairman until the end of this year.

The merger with Progress turned tumultuous last year after Duke’s board forced former Progress CEO Bill Johnson to resign as head of the merged company just one day after the deal was completed[4]. Rogers was then named as his replacement, in addition to heading the combined company’s board, to the outrage of Progress Energy insiders.

Shares of Duke Energy rose fractionally in Tuesday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/09/duke.jpg
  2. DUK: http://studio-5.financialcontent.com/investplace/quote?Symbol=DUK
  3. have a new CEO: http://www.washingtonpost.com/business/duke-energy-names-cfo-lynn-good-as-replacement-for-retiring-jim-rogers/2013/06/18/e724befa-d814-11e2-b418-9dfa095e125d_story.html
  4. just one day after the deal was completed: http://investorplace.com/2012/07/3-lessons-from-the-duke-progress-ceo-switcheroo/

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