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.
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. Chairman and Chief Executive Officer James Rogers said he didn’t tell Wall Street analysts the company would be better off if its acquisition of Progress Energy Inc. failed and he didn’t have “buyer’s remorse.”
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.
Sept. 6 (Bloomberg) -- James Rogers, chief executive officer of Duke Energy, speaks about U.S. energy challenges and the importance of investing in renewable energy sources. He speaks at the Democratic National Convention in Charlotte, North Carolina. (Source: Bloomberg)
Duke Energy Corp. is nearing an agreement to buy Progress Energy Inc. and put Progress Chief Executive Officer William Johnson in charge of what will be the largest U.S. utility, said three people with knowledge of the matter.