July 12, 2012 / 11:00 PM / 6 years ago

NC panel calls Progress's Johnson to testify on Duke CEO shakeup

NEW YORK (Reuters) - North Carolina regulators have ordered former Progress Energy Chief Executive Bill Johnson to testify on the details surrounding his ouster as CEO of Duke Energy Corp. (DUK.N)

The North Carolina Utilities Commission has also called Duke’s lead director, Ann Maynard Gray, and other Duke directors to appear before the commission, according to an order issued on Thursday.

Duke, which completed its $18 billion takeover of Progress on July 2, voted to replace Johnson with its own CEO, Jim Rogers, just hours after closing the deal. Under the terms of the merger agreement, Johnson was supposed to hold the position of CEO, while Rogers would serve as executive chairman.

Reporting by Michael Erman; Editing by Gary Hill

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