Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Duke Energy Elects New President and CEO

Duke Energy (NYSE: DUK  ) announced today that its board has unanimously selected Lynn Good to replace Jim Rogers as the utility's next president and CEO, effective July 1.

Source: Duke Energy 

Good currently serves as Duke's CFO and executive vice [resident, a position she has held since 2009. Good first came to Duke in 2003 via its Cinergy predecessor, after 20 years in management roles at Deloitte & Touch and Arthur Andersen.

"The selection committee considered several exceptional internal and external candidates and determined that Lynn's leadership abilities and strategic vision for Duke Energy's continued growth make her the ideal choice," said Duke Energy lead director Ann Maynard Gray in a statement today.

According to an SEC filing, Good has agreed to an initial three-year term with an annual base salary of $1.2 million. Short-term bonus opportunities are set at 125% of base salary ($1.5 million currently), while long-term incentives amount to a 450% boost ($5.4 million).

Although Rogers will step down from his president and CEO roles that he first assumed in 2006, he will continue to serve as chairman of the board until his official retirement at the end of this calendar year.

"I have worked closely with Lynn for 10 years and know she cares deeply about this company, our employees, customers, and shareholders," Rogers said in a statement. "I applaud the board's choice and am eager to work with Lynn on a seamless transition."

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2496570, ~/Articles/ArticleHandler.aspx, 9/27/2016 1:34:01 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,220.63 125.80 0.70%
S&P 500 2,159.29 13.19 0.61%
NASD 5,296.26 38.77 0.74%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 1:18 PM
DUK $81.79 Down -0.36 -0.44%
Duke Energy CAPS Rating: ***