Uncategorized

Former Progress CEO tells of Duke’s desire to end merger (video)

Bill Johnson, the former CEO of Progress Energy, told the state’s Utilities Commission Thursday his management style had nothing to do with his sudden and unexpected departure from Duke Energy earlier this month.

Johnson, who was expected to lead the newly combined energy company, said as the two sides worked to meet the requirements set forth by the Federal Energy Regulatory Commission (FERC) to complete this merger, working relationships began to deteriorate.

“I believe then and I believe now, that they [Duke] explored every avenue to get out of this merger, “said Johnson.

Last week, Duke Chief Executive Jim Rogers told a much different story. Rogers said Duke’s board of directors had lost confidence in Johnson in the weeks leading up to the merger, describing Johnson’s leadership style as “autocratic.”

Johnson defended his reputation repeatedly during Thursday’s hearing, and said from his point of view the most important thing was to meet the deadline to complete the merger. And despite the friction, Johnson believes the combined utilities will be good for consumers.

Testimony will continue Friday with two Duke Energy board members before the state commission.

To hear a portion of Johnson’s testimony, click below:

One Comment


  1. Frank Burns

    July 20, 2012 at 12:20 pm

    Somebody better tell James that he was wrong. Duke did not lie to the commission. The only concern I see coming out of the Utilities Commission is how many old Progress workers would be left in Raleigh, although I don’t see how that would be a concern for rate payers. What difference does it make to them where the workers are located?

Check Also

Listen & Learn: A closer look at what is and isn’t working in education policy

If you missed it over the weekend, make ...

Top Stories from NCPW

  • News
  • Commentary

The following information is gathered from the Guttmacher Institute: 90% — North Carolina counties i [...]

Nothing is off the table when it comes to Republican judicial reform, and a former Wake County judge [...]

On a cozy autumn evening at the luxurious Umstead Hotel in Cary, a medley of corporate luminaries, s [...]

A fix for North Carolina’s class size crisis in March? A GOP senator from Wake County tells his cons [...]

On the 45th anniversary of Roe v. Wade, the U.S. Supreme Court decision that legalized abortion in t [...]

The post Classic projection appeared first on NC Policy Watch. [...]

It was a snowy and shortened work week for a lot of people in North Carolina, but unfortunately, tha [...]

Mounting student debt is a nagging problem for most families these days. As the cost of higher educa [...]

Upcoming Events

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more