Duke Energy has announced the final board position elections that will fully remove soon-to-be former Chairman and CEO Jim Rogers from the utility's leadership team.
Duke announced last week that current CFO Lynn Good would step up to the CEO plate in July, but that Rogers would remain in his Chair position until the end of the year. This week's announcement puts lead director Ann Maynard Gray into the Chair position for 2014, while Good will assume the Vice Chair position effective July 1.
Gray has served on Duke's (or its predecessors') board since 1994, and has been lead director for Duke since 2004. Before joining Duke, Gray was President of Diversified Publishing Group of ABC, a television, radio and publishing company, and has also served on several other NYSE boards.
"I'm honored that my fellow board members have asked me to serve as chair," Gray said in a statement. "And I'm proud to be associated with a company that provides a critical service to more than 7 million customers. I look forward to working closely with Lynn Good and the entire board to position the company for future growth."
The article Duke Lead Director to Become Board Chairwoman originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool has no position in any of the stocks mentioned, either. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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