Duke Energy Corp.

Sector: Electric And Other Services Combined Region: NC, United States

Exchange/Ticker: New York Stock Exchange: DUKH | New York Stock Exchange: DUK

Company Description

Duke Energy Corp. is focused on electric power and gas distribution operations, and other energy services in the Americas, including a portfolio of renewable energy assets. The company operates its business through the following segments: U.S. Franchised Electric and Gas, Commercial Power and International Energy. The U.S. Franchised Electric and Gas segment generates, transmits, distributes and sells electricity in central and western North Carolina, western South Carolina, central, north central and southern Indiana, southwestern Ohio and northern Kentucky. It also transports and sells natural gas in southwestern Ohio and northern Kentucky. This segment conducts operations primarily through Duke Energy Carolinas, Duke Energy Ohio, including Duke Energy Kentucky and Duke Energy Indiana. The Commercial Power segment owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants. It also has a retail sales subsidiary, Duke Energy Retail Sales LLC, which is a retail electric supplier provider in Ohio; and through Duke Energy Generation Services, Inc., develops, constructs and operates renewable energy projects. . In addition, DEGS develops commercial transmission projects. The International Energy segment operates and manages power generation facilities and engages in the sales and marketing of electric power and natural gas outside the U.S. It conducts operations primarily through Duke Energy International LLC and its activities principally target power generation in Latin America. This segment also owns an interest in National Methanol Co., which produces methanol and methyl tertiary butyl ether. The company's business roots back to 1927. Duke Energy was founded on April 3, 2006 and is headquartered in Charlotte, NC.

Similar to: UNITIL Corp., U.S. Geothermal, Inc., Westar Energy, Inc.

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Executives

James E. Rogers, Chairman, President and Chief Executive Officer

Jim Rogers serves as chairman, president and chief executive officer for Duke Energy. Rogers has served as a CEO in the utility industry for more than 23 years. Over that period, he has delivered an average total shareholder return of more than 12 percent per year by focusing on sustainable growth and executing a series of well-timed mergers, acquisitions and divestitures. Rogers became president and CEO of Duke Energy following the merger between Duke Energy and Cinergy in 2006. Before the merger, he served as Cinergy's chairman and CEO for more than 11 years. Prior to the formation of Cinergy, he joined PSI Energy in 1988 as the company's chairman, president and CEO. He has served as deputy general counsel for litigation and enforcement for the Federal Energy Regulatory Commission (FERC); executive vice president of interstate pipelines for the Enron Gas Pipeline Group; and as a partner in the Washington, D.C., law office of Akin Gump Strauss Hauer & Feld. Prior to those appointments, Rogers served as assistant to the chief trial counsel at FERC; as a law clerk for the Supreme Court of Kentucky; and as assistant attorney general for the Commonwealth of Kentucky, where he advocated for the state's consumers in gas, electric and telephone rate cases. Rogers was also a reporter for the Lexington (Kentucky) Herald-Leader for three years. In the course of his career, Rogers has served on the boards of directors of eight Fortune 500 companies, and is currently a director of Cigna Corp. and Applied Materials Inc. In 2010 and 2011, he was named by the National Association of Corporate Directors' Directorship magazine to its annual Directorship 100, recognizing the most influential people in corporate governance. "CEO as Statesman" Rogers has been recognized as an outspoken and accessible voice for business, earning the reputation as a "CEO Statesman." In 2009, Newsweek named him one of "The 50 Most Powerful People in the World." He has testified more than 20 times before U.S. Congressional Committees, and addressed international forums including the United Nations General Assembly, the World Economic Forum, and the Clinton Global Initiative. Rogers is an expert commentator with national and global media and has appeared in publications and shows as diverse as "60 Minutes," The New York Times Magazine, CNBC, and "The Colbert Report." He has also published numerous articles and opinion pieces, and is a frequent speaker on energy issues in national and global meetings and at colleges and universities nationwide. Rogers has advocated investing in energy efficiency, modernizing the electric infrastructure, and pursuing advanced technologies and nuclear energy to grow the economy and transition to a low-carbon future. He serves as vice chairman of the World Business Council for Sustainable Development. In the U.S., he was chairman of the Edison Electric Institute when it changed its position to support federal climate change legislation in 2007. He was also the founding chairman of the Institute for Electric Efficiency and past co-chair of both the National Action Plan for Energy Efficiency and the Alliance to Save Energy. He serves on the boards of directors of the Institute of Nuclear Power Operations and the World Association of Nuclear Operators. Rogers also serves on the boards of the Aspen Institute, Brookings Institute, Duke University's Nicholas Institute for Environmental Policy Solutions and is a lifetime member of the Council on Foreign Relations. Forging U.S.-China Relations In 2008, as a high school graduation gift to his grandson, Rogers visited China for the first time. That trip opened a new area of professional interest – collaborating with the Chinese to bring clean energy technologies to scale – and forging cooperative agreements with leading energy companies and research institutes. In 2011, Rogers received the Asia Society of Washington's International Business Leadership Award and the Committee of 100's Business Excellence Award for his efforts to improve business relations between the U.S. and China that benefit customers, the environment, and improve dialogue between the two nations. He was also recognized by the U.S.-China Policy Foundation with their Global Executive Leadership Award. Later the same year, the Asia Society elected Rogers to serve a four-year term on the organization's board of trustees. Balancing Diverse Interests Under Rogers' leadership, Duke Energy has been recognized as a leader in sustainability – balancing the "triple bottom line" of people, planet and profits. In 2010 and 2011, the company was named to the elite Dow Jones Sustainability World Index; it has been a part of the Dow Jones Sustainability Index for North America for the past six years. An early advocate for balancing the interests of diverse stakeholders, Rogers' leadership approach was featured in Harvard Business Review. Rogers was also a founding member of the U.S. Climate Action Partnership, a collaboration of leading businesses and environmental groups that came together to call on the federal government to enact legislation to reduce greenhouse gas emissions. He is also a member of the global board of directors of The Nature Conservancy. Committed to Country and Community Rogers has been an active community leader and has received a number of honors and awards for his service. In his current home community of Charlotte, N.C., Rogers has led several civic endeavors, including the region's re-visioning as a hub of energy commerce. He also co-chaired the $82 million campaign to build a new cultural campus in Uptown Charlotte. And, supporting Charlotte and North Carolina's economic development goals, he co-chaired the successful bi-partisan effort to host the 2012 Democratic National Convention and currently co-chairs the Charlotte Host Committee for the convention. Personal Data and Education Born in 1947 in Birmingham, Ala., Rogers grew up in Kentucky. He attended Emory University and earned Bachelor of Business Administration and Juris Doctor degrees from the University of Kentucky, where he was a member of the Kentucky Law Journal and Beta Gamma Sigma National Honor Society. Rogers was named to the Hall of Fame at the Carol Martin Gatton College of Business and Economics and the Hall of Fame at the College of Law, both at the University of Kentucky. He was inducted into the University of Kentucky's 2010 Hall of Distinguished Alumni. He has also been awarded Honorary Doctorate degrees from four universities. Rogers and his wife, Mary Anne, have two daughters, a son and eight grandchildren. Duke Energy, the largest electric power company in the United States, supplies and delivers electricity to approximately 7 million customers in the Southeast and Midwest. The company also distributes natural gas in Ohio and Kentucky. Its commercial power and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK.

Lynn J. Good, Chief Financial Officer

Lynn Good is executive vice president and chief financial officer for Duke Energy. She leads the financial function, which includes the controller's office, treasury, tax, risk management and insurance, as well as corporate strategy and corporate development. These duties include accounting, balance sheet management and overseeing risk control policies. Having served as Duke Energy's CFO since July 2009, Good continued in that role following the merger between Duke Energy and Progress Energy in early 2012. Before that, she served as group executive and president of Duke Energy's Commercial Businesses organization, since November 2007. She was responsible for the Midwest nonregulated generation, Duke Energy International, Duke Energy Generation Services, the telecommunications businesses, and all corporate development and merger and acquisition activities. Prior to that, Good served as senior vice president and treasurer for Duke Energy. She led the treasury functions for the company, as well as insurance, market and credit risk management, and corporate financial planning and analysis. Before the merger of Duke Energy and Cinergy in April 2006, Good served as executive vice president and chief financial officer for Cinergy. Named to that role in September 2005, she was responsible for Cinergy's treasury, finance and accounting functions. Good joined Cinergy in May 2003 as vice president of financial project strategy. She was named vice president and controller later the same year, and vice president of finance and controller in January 2005. Prior to joining Cinergy, Good was a partner with the international accounting firm, Deloitte & Touche, based in Cincinnati, Ohio. From 1981 to 2002, she served in various senior management roles with Arthur Andersen, rising to partner in 1992. Good serves on the board of directors of Hubbell Inc., an international manufacturer of electrical and electronic products. She is also a board member of the Bechtler Art Museum in Charlotte. Good earned Bachelor of Science degrees in systems analysis and accounting from Miami University in Oxford, Ohio. Duke Energy, the largest electric power company in the United States, supplies and delivers electricity to approximately 7 million customers in the Southeast and Midwest. The company also distributes natural gas in Ohio and Kentucky. Its commercial power and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK.

Lee T. Mazzocchi, Senior Vice President and Chief Integration and Innovation Offic

Lee Mazzocchi serves as senior vice president and chief integration and innovation officer for Duke Energy. He leads the company's emerging technology, integration and improvement, and sustainability organizations. These groups identify, assess and develop emerging technologies; optimize and measure integration efforts; and design and implement continuous improvement programs companywide. The sustainability group is responsible for Duke Energy's strategy to operate in a way that is good for people, the planet and profits. Mazzocchi has more than 22 years of experience in the electric utility industry. Prior to the Duke Energy/Progress Energy merger in 2012, he served as vice president of supply chain and chief procurement officer for Progress Energy. In this role, he was responsible for Progress Energy's acquisition of products and services – totaling approximately $3 billion per year. Mazzocchi began his career with Progress Energy in 1990 and held various leadership positions in power delivery (electric distribution and transmission) in the Carolinas. Before taking responsibility for the company's supply chain organization in 2009, he served as Progress Energy's vice president of distribution, where he was responsible for the Progress Energy Carolinas distribution system serving 1.4 million customers. He also served as executive sponsor for Progress Energy's initial investments in the smart grid initiative to save energy, strengthen system reliability and improve customer service through the use of advanced technology. A native of Cary, N.C., Mazzocchi earned a Bachelor of Science degree in civil engineering from North Carolina State University. He is a member of the board of directors and past chair of the American Red Cross, Triangle Chapter. He is also a board member of the N.C. State Engineering Foundation. Mazzocchi and his wife, Julie, have two sons. Duke Energy, the largest electric power company in the United States, supplies and delivers electricity to approximately 7 million customers in the Southeast and Midwest. The company also distributes natural gas in Ohio and Kentucky. Its commercial power and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK.

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