Duke Energy Deceives Its Investors
One of the cardinal rules in the utility industry is don't surprise your friends. Duke Energy (DUK) Chairman and CEO James Rogers just violated that rule.
After Duke's successful acquisition of Progress Energy last Monday, shareholders expected that Rogers would become executive chairman of the board and that Progress Energy's Bill Johnson would become Duke's president and CEO. But at 12:01 a.m. EDT Tuesday morning, just minutes into his new role as Duke's CEO, Johnson was allegedly forced out of the company by a Rogers-friendly board, and Rogers retook full control of the new Duke....667 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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