Two riled directors of America’s largest electric company resigned Friday, complaining they were blindsided by a surprise CEO switch that has put pressure on Duke Energy Corp.’s credit rating and stock price.
North Carolina utilities regulators said Friday they will continue their investigation into whether they were intentionally misled by executives and directors assembling the country's largest electric company.
A long-time Duke Energy Corp. director who led the surprise CEO ouster at the country's largest electric company said Friday that reasons for the move included a long-delayed update on insurance payments for a troubled Florida nuclear power plant and personal meetings that went poorly.
“My grand pappy was a chess grand master,” Jim Rogers declared as we sat down to a game back in the early 1990s. Jim was a pal. When he and his wife, M.A., lived in Carmel, we vacationed together and enjoyed running and biking on the weekends. He was a competitor. He liked to win.
Bill Johnson, the man who was CEO of Duke Energy Corp. for eight hours after its $17.8 billion takeover of Progress Energy Inc., began testifying Thursday to the North Carolina Utilities Commission.
North Carolina regulators expect testimony Thursday from the CEO ousted by Duke Energy Corp. within hours of becoming the top executive of the country's largest electric company.
Duke Energy Corp. asked state regulators Tuesday for a weekslong postponement of testimony by two top directors, including local businessman Michael Browning, about the surprise CEO switch at the top of America's largest electric company.
Indianapolis real estate developer and Duke Energy Corp. director Michael Browning has been ordered to appear Friday before the North Carolina Utilities Commission, which is investigating the unexpected ouster of the utility’s new CEO just hours after the company merged with Progress Energy Inc.
The automaker is asking the Indiana Utility Regulatory Commission to look into its dispute with Duke Energy—and order the utility to return a deposit it required to keep the power on at Chrysler's Kokomo plants.
Jim Rogers, Duke Energy Corp.’s surprise CEO, said America’s largest electric company dumped Progress Energy Inc. CEO Bill Johnson 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.
Three former board members of Progress Energy Inc. said they would have voted against Duke's $17.8 billion takeover offer had they known Rogers would remain in charge of the combined companies.
Duke Energy Corp. on Tuesday unexpectedly announced the resignation of Bill Johnson, previously named to be the CEO after its $17.8 billion takeover of Progress Energy Inc. James Rogers has been named CEO of the merged companies effective immediately.
North Carolina utility regulators have approved the merger of Duke Energy and Progress Energy, the last major hurdle to creating the largest American electric company.
Utility denies claim it is trying to sidestep $2.6 billion cap on costs that can be passed along to ratepayers.
Indiana's environmental agency and Duke Energy Corp. are moving ahead with the cleanup of a long-closed manufactured-gas plant in Shelbyville.
Indianapolis Power & Light, others say money is at stake if tighter controls are enforced.
Duke Energy Corp. said first-quarter profit fell 42 percent after a regulatory settlement in Indiana increased costs and mild weather reduced heating demand.
Duke Energy Corp. has agreed to cap the cost of its troubled coal-gasification plant in southwestern Indiana at $2.6 billion, or about $700 million less than the expected cost of construction, as part of a proposed settlement announced Monday.
New federal mercury-reduction regulations may force Indianapolis Power & Light to spend nearly $1 billion to upgrade its coal-fired electric plants scattered around Indiana. Duke Energy is mulling everything from plant upgrades to shutting down older units.
David Lott Hardy, who was fired from his job as chairman of the Indiana Utility Regulatory Commission in 2010, is accused of official misconduct.
