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CEO-for-a-day parachutes out of Duke Energy with $44 million

CEO-for-a-day parachutes out of Duke Energy with $44 million

For one day’s work, $44 million is a pretty sizable paycheck. For a few hours this week, William D. Johnson served as chief executive of Duke Energy Corp. before resigning. His departure package could include $7.4 million in severance, relocation expenses and more, according to a securities filing. Johnson, formerly CEO of Progress Energy Inc., signed a contract on June 27 to head up Duke for three years. He assumed the position on July 2, when a long-planned, multibillion-dollar merger between Progress and Duke, an electric utility focused in the Southeast, went into effect. The buyout made Charlotte, N.C.-based Duke the largest power company in the country. By the...

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