Dive Summary:
- A month after swapping former Progress CEO Bill Johnson for Jim Rogers, some analysts are beginning to wonder if it would be better if Rogers stepped down so Duke can rebuild trust with regulators and employees.
- Many on Wall Street are still confident that Duke has done nothing wrong legally and predict Rogers will keep his job.
- It is unsure if Rogers will be forced to step down amid an ongoing investigation regarding various aspects of Duke’s recent merger with Progress Energy; Duke is expected to turn over internal emails and corporate records by the end of business on Tuesday.
From the article:
A month after Duke Energy’s abrupt ouster of CEO Bill Johnson, Wall Street remains divided over how much of a threat the controversy poses to the Charlotte-based power company and longtime CEO Jim Rogers.
Some analysts and investors are beginning to talk openly about the urgency for Rogers, who was reinstated after Johnson’s forced exit, to step down so the company can rebuild trust with regulators and employees in North Carolina. But despite the commotion that one analyst has dubbed “CEO-gate,” many on Wall Street remain confident Duke is on firm legal ground and that Rogers will emerge unscathed. ...
