Posts Tagged ‘progress energy’

progress energy posts
Work a day, get a $44 million severance. Bill Johnson can CEO like a boss.

Work a day, get a $44 million severance. Bill Johnson can CEO like a boss.

There was a lot of excitement surrounding the merger of Duke Energy and Progress Energy last year. When the companies agreed to combine forces, it was determined that Progress CEO Bill Johnson would take over the helm of the larger entity as part of a three-year deal. When the merger went into effect on July 2, his new career began. Less than 48 hours later, he resigned. There is speculation that his resignation was actually a firing, but don’t shed a tear for the short-time boss. In the separation, Johnson will receive around $44 million in severance, cash bonuses, and accelerated vesting of his…

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