Duke Energy CEO Jim Rogers to step down next year in reshuffle

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Jim Rogers, who took the helm of Progress Energy when it merged with new parent company Duke Energy just this summer, announced he plans to retire from the company at the end of next year.

The company also announced Thursday that other top executives will be moved around in a reshuffling under an agreement to end a five month investigation by North Carolina regulators into the company’s merger with Progress Energy. The proposed changes will go before that state’s regulators on Monday, the Charlotte Observer reported.

Rogers became president and CEO of Charlotte, N.C.-based Duke in 2006. Controversially, he was installed as president of the newly merged Duke-Progress company in July when Progress CEO Bill Johnson was unexpectedly forced to resign. Duke is the nation’s largest electric utility. It’s Florida subsidiary, Progress Energy Florida, is the second largest electric company in the state behind Florida Power & Light. Rogers’ contract expires at the end of 2013.

Former Progress executive Lloyd Yates will become executive vice president of regulated utilities at Duke under the agreement, according to a statement released by the company. He replaces Keith Trent at the helm of the company’s largest business unit.

Duke also said it will name a new general counsel, as part of the deal.

Material from the News Service of Florida was used in this post.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.