CHARLOTTE, N.C., Nov. 29, 2012 /PRNewswire/ -- Duke Energy
Chairman, President and CEO Jim
Rogers today announced his intent to retire from the company
by the end of 2013, which is consistent with the expiration of his
employment contract.
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http://photos.prnewswire.com/prnh/20040414/DUKEENERGYLOGO )
Rogers has served as a CEO in the utility industry since 1988.
Over that period, he has delivered one of the best average annual
total shareholder returns in the industry.
Rogers became president and CEO of Duke Energy following the
merger between Duke Energy and Cinergy in 2006. Before the merger,
he served as Cinergy's chairman and CEO for more than 11 years.
Prior to the formation of Cinergy, he served as chairman, president
and CEO of PSI Energy from 1988 until 1994.
"It has been an honor serving as CEO for the past 24 years and
working in a dynamic industry that provides an essential service
for our customers," Rogers said. "My continuing focus for the
remainder of my tenure will be on positioning Duke Energy as a
stronger, more efficient organization for many years to come, while
continuing to fully realize the significant benefits of the merger
for our customers and investors."
"I have worked closely with Jim since 2006 and have always been
impressed with his dedication to Duke Energy and its employees,"
said Duke Energy lead Director Ann Maynard
Gray. "He has delivered excellent results for shareholders
throughout his career, and the Board of Directors looks forward to
continuing to work with Jim to deliver benefits to our customers
and investors."
A special committee of the Duke Energy Board of Directors will
oversee the recommendation of a successor to Rogers.
About Duke Energy
Duke Energy (NYSE: DUK) is the largest electric power holding
company in the United States with
more than $100 billion in total
assets. Its regulated utility operations serve approximately 7.1
million electric customers located in six states in the Southeast
and Midwest. Its commercial power and international business
segments own and operate diverse power generation assets in
North America and Latin America, including a growing portfolio
of renewable energy assets in the United
States.
Headquartered in Charlotte,
N.C., Duke Energy is a Fortune 250 company traded on the New
York Stock Exchange under the symbol DUK. More information about
the company is available at: www.duke-energy.com.
Forward-Looking Information
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements are based on management's beliefs and assumptions. These
forward-looking statements are identified by terms and phrases such
as "anticipate," "believe," "intend," "estimate," "expect,"
"continue," "should," "could," "may," "plan," "project," "predict,"
"will," "potential," "forecast," "target," "guidance," "outlook"
and similar expressions. Forward-looking statements involve risks
and uncertainties that may cause actual results to be materially
different from the results predicted. Factors that could cause
actual results to differ materially from those indicated in any
forward-looking statement include, but are not limited to: state,
federal and foreign legislative and regulatory initiatives; the
impact of compliance with material restrictions or conditions
imposed by regulators; and costs and effects of legal and
administrative proceedings, settlements, investigations and
claims.
Additional risks and uncertainties are identified and discussed
in Progress Energy's and Duke Energy's reports filed with the SEC
and available at the SEC's website at www.sec.gov. In light of
these risks, uncertainties and assumptions, the events described in
the forward-looking statements might not occur or might occur to a
different extent or at a different time than Duke Energy has
described. Duke Energy undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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Tom Williams
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Phone:
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980-373-4743
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24-Hour:
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800-559-3853
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ANALYSTS:
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Bob
Drennan
Bill
Currens
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704-382-4070
704-382-1603
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SOURCE Duke Energy