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.’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.
Duke Energy Corp., the operator of power plants in the U.S. Southeast and Midwest, is working with Chinese utilities to make coal-fired plants cleaner and speed cuts in carbon-dioxide emissions in the U.S. and China.
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.
The U.S. Commodity Futures Trading Commission voted to define when trades are considered swaps under the Dodd-Frank Act, a step that triggers more than a dozen rules under the 2010 financial-regulation overhaul.
Three former Progress Energy Inc. board members said they would have voted against Duke Energy Corp.’s takeover had they known that Duke’s chief executive officer would remain in charge of the combined companies.