Duke CEO To Step Down Next Year Under NC Regulator Deal

Law360, New York (November 29, 2012, 8:30 PM EST) -- Duke Energy Inc. reached a deal with the staff of a North Carolina utilities regulator Thursday that stipulates CEO James E. Rogers' retirement at the end of 2013 and will end the investigation into Duke’s July acquisition of Progress Energy Inc.

The settlement will go before the North Carolina Utilities Commission for approval on Monday. The commission launched the investigation following the ouster of Progress CEO William D. Johnson hours after the $26 billion merger received final approval.

The settlement requires the board of directors to...
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