- The North Carolina Utilities Commission said Thursday that it will hear from former Progress Energy CEO and 24-hour Duke Energy CEO Bill Johnson about what happened between the day the merger closed and the next day, when a majority of directors asked him to quit.
- The session will be July 19 in Raleigh, and the NCUC's order also tells Duke board members E. Marie McKee and James B. Hyler Jr. to appear. They voted against dumping Johnson. The commission also called two directors who told Rogers of the pending coup to appear July 20 and demanded documents from the company.
- Jim Rogers, CEO of Duke before the merger and suddenly CEO of the merged company, testified this week that directors had concerns about Johnson's leadership and had begun to discuss replacing him before the merger was approved by federal, North Carolina and South Carolina authorities as a deadline neared.
From the article:
State utility regulators on Thursday escalated their investigation into the merger of Progress Energy and Duke Energy by directing former Progress CEO Bill Johnson to appear in Raleigh next week to testify about his firing from Duke just hours after the utility merger was sealed.