You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

Duke Energy names insider as next CEO


NEW YORK — Duke Energy Corp., the nation’s largest electric utility, named Chief Financial Officer Lynn Good to replace Jim Rogers next month as CEO.

Rogers, 65, will retire on July 1. He agreed to step down by the end of the year as part of a settlement with North Carolina regulators after a contentious takeover Progress Energy last year.

Rogers has spent the past year working to clean up a number of problem spots within the company and provide a relatively fresh start for Good.

Duke, which provides power in Warren, Butler and Hamilton counties, reached a deal with Indiana regulators over an advanced coal-fired power plant that ballooned in cost to $3.5 billion, from an original estimate of $1.9 billion. The plant began operating this month. The company also decided to close the damaged Crystal River nuclear plant near Tampa, Fla., that it inherited in the Progress acquisition. Duke has also agreed to rate increases with regulators in North Carolina and Ohio.

Now it will fall to Good to continue to repair some key relationships. North Carolina regulators and former Progress workers chaffed at a last-minute switch that put Rogers, and not the head of Progress, in charge in the hours after the companies combined a year ago.

Good, 54, has been working under Rogers since she joined Cincinnati-based Cinergy, a Duke predecessor company, in 2003. She has been Duke’s CFO since 2009.

Good said in an interview Tuesday that the healing process was well under way on both fronts. Rate agreements with North Carolina regulators in Duke and former Progress service areas have been reached in recent weeks, and Good says she will spend the next several weeks meeting with regulators in all of the company’s service areas.

Duke, based in Charlotte, N.C. serves 7.2 million customers in the Carolinas, Florida, Kentucky, Indiana and Ohio. It is the largest U.S. utility as measured by number of customers and market value.

Good said one of her chief priorities as CEO would be to find ways to keep company profits rising by looking for ways to cut costs and grow the company even without rising electricity sales.

.


Reader Comments ...


Next Up in Business

Speedway to hire 1,000 workers across 9 states
Speedway to hire 1,000 workers across 9 states

Speedway will hire 1,000 workers in nine Midwest states and will host open interviews at each of its stores in the region later this month. The convenience store chain, with a headquarters in Enon, will host open interviews from 11 a.m. to 3 p.m. Wednesday, Jan. 25 at every one of its stores in nine states, according to information from the company...
Holiday debt blues? Here’s help getting on track
Holiday debt blues? Here’s help getting on track

John North is president of the Dayton Better Business Bureau. With the holidays behind you, the new year is a great time to get your finances back on track if you’ve slipped a bit. By dedicating yourself to using credit responsibly and sticking to a sensible plan, then you can effectively pay down your debt. According to debt.org, total U.S....
New shopping center proposed at long-vacant Springfield site
New shopping center proposed at long-vacant Springfield site

A new retail development is likely coming to the east side of Springfield at a longtime vacant property, the first major commercial growth there in several years. The Springfield Board of Zoning Appeals approved Wednesday night a variance for the former Roberds site in the 3000 block of East Main Street. City documents filed by developer Springfield...
Gmail phishing scam may lead users to give up login info
Gmail phishing scam may lead users to give up login info

A new phishing scam is allowing hackers to gain access to unsuspecting Gmail users' accounts and target their login credentials, according to recent reports. Mark Maunder, CEO of security service Wordfence, described the scam in detail in a blog post, adding that it is also targeting other services beyond Gmail. Tech Times reported that the scam involves...
Millennials spend more on coffee, save less for retirement
Millennials spend more on coffee, save less for retirement

A large number of Millennials spent more on coffee in the past year than they invested in their retirement savings, according to a new study. » RELATED: What makes Millennials tick in the workplace? It may surprise you About 41 percent of the Millennials — ages 18 to 35 — admitted to spending more on coffee than they saved for retirement...
More Stories