Duke CEO Defends Ousting Of Progress Chief

Law360, New York (July 10, 2012, 8:06 PM EDT) -- Duke Energy Corp. CEO Jim Rogers defended the ousting of Progress Energy Inc.'s CEO just hours after the two companies merged in a $26 billion deal, telling the North Carolina Utilities Commission on Tuesday that his company's board had lost faith in his leadership.

The commission had called Rogers forward over concerns that Duke misled it, as well as potentially the financial markets and other regulators across the country, in order to gain approval for the merger, which created the country's largest energy company last week...
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