Duke Energy’s Chief Defends Abrupt Dismissal of His Predecessor – NYTimes.com

Duke Energy’s Chief Defends Abrupt Dismissal of His Predecessor – NYTimes.com.

Duke Energy-Nader Nazemi

James Rogers, the chief of Duke Energy, preparing to testify.

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.

“It was everybody’s hope and aspiration that he would be the president and C.E.O.,” Mr. Rogers told North Carolina regulators. “But there were a series of things that happened that led the board to change their opinion.”
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