Bill Johnson, the man who was chief executive officer of Duke Energy Corp. for hours after its $17.8 billion takeover of Progress Energy Inc., said he was fired after Duke had “buyer’s remorse” about the deal.
Duke Energy Corp.’s ousted Chief Executive Officer Bill Johnson offered rare insight into the strains that can occur in multibillion-dollar takeovers in testimony at a hearing before North Carolina regulators yesterday.
H.J. Heinz Co. Chief Executive Officer Bill Johnson could receive more than $200 million should he exit after Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital Inc. buy the ketchup maker.
Progress Energy Inc. Chief Executive Officer Bill Johnson was a ‘terrific communicator’ and not the autocrat Duke Energy Corp. CEO James Rogers described in a hearing on why Johnson was ousted from the combined company’s leadership, former Progress Energy director John Mullin III said.
Duke Energy Corp. said Bill Johnson won’t take over as chief executive officer as planned after its $17.8 billion takeover of Progress Energy Inc. Instead, James Rogers will continue as chairman and CEO of the combined companies.
Former Progress Energy Inc. Chief Executive Officer Bill Johnson will testify to North Carolina regulators about Duke Energy Corp.’s decision to replace him hours after the companies combined to create the largest U.S. utility owner.
Duke Energy Corp.’s board lost confidence in Bill Johnson as its next chief executive officer after he missed deadlines and failed to provide adequate information about a troubled nuclear reactor, the lead director said.