- Bill Johnson resigned as the CEO of Duke Energy a day after its merger with his company, Progress Energy became final, a move that has caused its own waves.
- Bloomberg News says that a review of filings with the Securities and Exchange Commission for the change and talks with Duke show the total package for Johnson may be as much as $44.7 million when all past Progress compensation and new payments are included.
- "The total includes $12.7 million for pension benefits and deferred compensation, $14.3 million for vested stock awards, a possible $7.4 million payment for taxes and as much as $10.3 million for severance, bonus and lump sum payments," Bloomberg wrote.
From the article:
Progress Energy Inc. Chief Executive Officer Bill Johnson, who unexpectedly resigned after Duke Energy Corp. (DUK) completed its takeover of the company, may collect as much as $44.7 million after his exit.