Let’s be honest. Johnson got the shaft in a very painful way. Duke Energy betrayed and undermined the deal clauses.
RALEIGH, N.C. — An accumulation of concerns caused Duke Energy’s board to lose confidence in its chief executive, leading to his ouster just hours after completing a $32 billion merger with Progress Energy, according to testimony Tuesday by the man who replaced him.
James E. Rogers, the current chief executive of Duke, spoke publicly for the first time Tuesday about theboardroom drama last week that led to the surprisingly dismissal of William D. Johnson, the Progress chief, who was to run the company.
- Uproar Over C.E.O.’s Ouster at Merged Energy Giant – NYTimes.com (nadernazemi.com)
- DealBook: Duke Energy Power Play Provokes an Uproar (dealbook.nytimes.com)
- Duke Energy: Wait For The Price To Fall Some More (seekingalpha.com)
- Duke Energy’s Chief Defends Abrupt Dismissal of His Predecessor (dealbook.nytimes.com)
- Regulators Looking Into Coup at Duke Energy (dealbook.nytimes.com)