Duke Energy Corp. (NYSE:DUK) said in a statement that it has named chief financial officer Lynn Good as its new CEO. Good will replace Jim Rogers, who will retire by the end of this year as a part of an agreement with North Carolina regulatory authorities, reports Jim Polson of Bloomberg.
Duke Energy Corp. (NYSE:DUK) had created a nine-member committee of the board of directors. Board member Jim Hyler said after the selection of Lynn Good that Lynn received unanimous support. It clearly reflects that the board is confident that Lynn Good is the best leader to take the company forward.
Over the years and during times like the volatility that has swept the market year to date, the best hedge fund managers display their adaptability. Being able to move and change with the times is essential when it comes to investment management. AQR co-founder and CIO Cliff Asness joined Ben Johnson of Morningstar to discuss Read More
Duke Energy Investigation
Jim Rogers has been leading Duke Energy Corp. (NYSE:DUK) since 2006, after the company acquired Ohio-based Cinergy. Rogers headed Cinergy for almost 11 years. In November 2012, he agreed to quit under a settlement with North Carolina authorities. The regulators were investigating into a leadership change after Duke Energy Corp. (NYSE:DUK) acquired Progress Energy for $17.8 billion last year. Soon after losing his CEO position, Rogers regained the post after the merged companies voted to remove Bill Johnson.
Lynn Good has been Duke Energy Corp. (NYSE:DUK)’s CFO since July 2009. Prior to that, she also worked in senior management roles at Deloitte & Touche LLP. The company will also select one of its independent directors as chairman-elect, who will assume the responsibilities as chairman on January 1.
Duke Energy Shuts Nuclear Plant
In February, the energy company decided to permanently close the Florida-based Crystal River nuclear power plant. Duke Energy Corp. (NYSE:DUK) said at the time that the cost of fixing the reactor and risks were much greater than the benefits. A few weeks ago, the company started operations at Edwardsport power plant in Indiana. Duke Energy Corp. (NYSE:DUK) distributes power to over 7.2 million customers and owns utilities across six states in the U.S.
Duke Energy Corp. (NYSE:DUK) shares were down 0.46 percent to $67.34 at 9:42 AM EDT.