The Wall Street Journal reports that ousted Duke Energy CEO Bill Johnson “told state regulators Thursday that the company’s board had never communicated any concerns about his leadership style before abruptly forcing him to resign.” In fact, the 58-year-old attorney said that Duke seemed to be devoting most of its attention to getting out of its $26 billion merger with Progress Energy Inc., which closed July 2. Johnson testified under oath before the North Carolina Utilities Commission, stating, “It seems odd to me that if these issues were burning issues, I never heard about them from anybody. You don’t get to be a CEO by not paying attention to signals from board members.” Johnson’s remarks will almost certainly escalate the bad blood created by his ouster, as they contradicted testimony given last week by Jim Rogers, who was restored as Duke’s CEO after Johnson was removed.
Ousted Duke CEO says board never raised leadership issues
The Duke Energy board never communicated concerns about leadership style conflicts, ousted CEO Bill Johnson told the North Carolina Utilities Commission.
July 20, 2012