Shake-up at Duke Energy follows CEO shuffle

Charlotte, N.C., July 11, 2012 — Duke Energy announced that John McArthur, executive vice president of Regulated Utilities, Mark Mulhern, executive vice president and chief administrative officer, and Paula Sims, chief integration and innovation officer, have resigned, effective immediately.

These departures follow the ouster of former Progress Energy CEO Bill Johnson, who was briefly appointed CEO of the newly merged Duke Energy before being swapped out for Jim Rogers, chairman, president and chief executive officer of Duke Energy.

Rogers said, "We regret that John, Mark and Paula have decided to move on from Duke Energy. Since we closed the merger, we have spoken extensively with the members of our senior management committee. Our hope was that we could all work together to capitalize on the significant opportunities we now have as one company. While we encouraged the entire team to maintain their roles, John, Mark and Paula requested to step down and we wish them well.

"We are grateful to be able to draw from the deep bench of executives from both Progress Energy and Duke Energy and have already begun working to identify the best way to fulfill the responsibilities held by John, Mark and Paula. We look forward to executing on our strategy as one company and one team committed to offering significant benefits for customers, shareholders and the communities we serve," Rogers said.

The company also noted that its integration efforts are on track. More than 50 integration teams made up of representatives from both Duke Energy and Progress Energy have been working diligently to execute on the integration at the functional level.

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