Duke executives resign in wake of merger

Duke Energy Corp. (NYSE: DUK) said 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.

The resignations come in the aftermath of the company’s merger with Progress Energy and the unexpected appointment of Jim Rogers as CEO instead of Bill Johnson, former CEO of Progress.

"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,” Rogers said.

Duke 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 to execute the integration. The merger created the country's largest electric utility as measured by enterprise value, market capitalization, generation assets, customers and other criteria.

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