Two Duke Energy (DUK) directors who joined the board when the company took over Progress Energy...

Two Duke Energy (DUK) directors who joined the board when the company took over Progress Energy resigned and called on DUK to immediately start looking for a new CEO. It's the latest blowback from DUK's firing of former Progress CEO Bill Johnson, who was supposed to become CEO of the combined companies.

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Comments (2)
  • metal27
    , contributor
    Comments (708) | Send Message
    I do not understand. Duke's BOD did exactly what BOD's are criticized for failing to do--it acted quickly to resolve a problem it saw as damaging the company's future. You may not agree with the decision but you cannot fault the BOD for making it instead of letting things slide.


    The subsequent resignation of two ex-Progress BOD members should come as no surprise; in fact, I would have regarded the absence of any resignations as evidence the ex-Progress BOD members agreed there was a problem with their CEO. I think the fact that several remain may be a tell.
    28 Jul 2012, 01:50 AM Reply Like
  • MexCom
    , contributor
    Comments (3077) | Send Message
    This is a continuation of terrible news. The announcement on CNBC was a shock to me. They said the stock was sliding but checking, it was still up for the day. As much as I didn't get the bottom of the news slide, I added to my position and the price recovered above my buy price yesterday. The wonderful buying opportunities for this stock may be coming to an end. Unfortunately I am going to have to start selling because of now being so overweight in my portfolio with it. My average date of ownership from more than doubling up since the merger is 2/24/12 with an annual rate of gain of 17% on top of getting a 4+% dividend.


    The previous commentor pointed to the excellent job the management of this company is doing. This is giving me the confidence to do what I am doing. I appreciate their hard work, not for only increasing my wealth but for providing us with reliable power at the lowest cost possible.
    28 Jul 2012, 07:18 AM Reply Like
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