A Coup At Duke

What would it be like to be CEO for a day? Former Duke Energy/Progress Energy CEO Bill Johnson found out. Eighteen months ago, Duke and Progress announced that when the merger took place, Progress CEO Mr. Johnson would be the CEO of the combined company. The merger closed on July 2, 2012 and Mr. Johnson retired at 12:01 AM on July 3rd, forced out by the Board of Directors of the new company. Most of the Board consisted of old Board members from Duke Energy. The action has caused a controversy since the merger had to pass through the North Carolina Utilities Commission, and an investigation has been launched by the North Carolina Attorney General's Office.  http://online.wsj.com/article/SB10001424052702303567704577519013679855528.html?KEYWORDS=duke+progress+merger