Duke Energy's board of directors unanimously picked CFO Lynn Good to replace Jim Rogers as the utility company's president and CEO effective July 1, 2013. Rogers will retire from the board December 31, 2013. Good, 54, will also serve as a director on the Duke Energy board.
In 2012, Rogers saw Duke Energy through its $18 million merger with Progress Energy. In a surprise move at the time, Progress Energy's CEO William Johnson was expected to take the president and CEO spot at the merged company, but Johnson was pushed out in favor of Rogers.
Good first became a Duke Energy employee when the company merged with Cinergy in 2006. At the time, Good served as executive vice president and chief financial officer for Cinergy.
Good also held leadership positions in Duke Energy's commercial businesses organization and was responsible for the Midwest nonregulated generation, Duke Energy International, Duke Energy Generation Services, Duke Energy Renewables and other businesses.
Rogers announced he would end his 25-year career in the energy sector and retire in November 2012.
The Duke Energy board of directors will also name one of its independent directors chair-elect in the coming weeks. This individual will assume responsibilities as chairman of the board on Jan. 1, 2014, and will assist the new CEO and the board with a smooth transition in the coming months.
Duke Energy serves 7.2 million electric customers located in six states in the Southeast and Midwest.