- The new board announced the company was merged and that Bill Johnson had resigned and Duke CEO Jim Rogers would keep that title.
- Filings with the Securities and Exchange Commission indicated Johnson's leaving would be considered to be under an earlier agreement and would give him $10 million – $7.425 million in salary, a $1.375 million bonus and $1.5 million in a "parachute" payment.
- Johnson was on the board that took office Monday and Tuesday announced he was gone.
From the article:
Long-time Progress Energy CEO Bill Johnson, who was expected to lead the new Duke Energy, has abruptly resigned.
In an announcement Tuesday morning, Charlotte-based Duke Energy said Duke’s board of directors had appointed Jim Rogers as president and chief executive officer of the combined company, effective immediately.
According to the statement, Bill Johnson, 58, “resigned as president and chief executive officer of the combined company by mutual agreement.”