Jim Rogers to lead combined Duke/Progress Energy

Charlotte, N.C., July 3, 2012 – Progress Energy CEO Bill Johnson handed in his resignation just as the Duke Energy merger closed, leaving Duke Energy CEO Jim Rogers to lead the combined company as CEO and chairman.

Duke Energy has said this change in leadership plans was a mutual agreement.

The merger, completed July 3, was first announced in January 2011, and creates one of the largest utilities in the U.S. with 7.1 million customers.

The new company, known as Duke Energy, will control assets in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio from its headquarters in Charlotte, N.C. The utility will own or control about 57,000 MW in generation capacity.

The new Duke Energy has about $49 billion in market capitalization, total assets of more than $100 billion. The regulated utilities will comprise a higher proportion of Duke Energy’s post-merger business mix.

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