Duke Energy board appoints former Comcast vice chairman, CFO as new board member

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CHARLOTTE, N.C. - Duke Energy’'s board of directors today announced the appointment of former Comcast Corp. vice chairman and chief financial officer Michael Angelakis as a new board member, effective Oct. 1, 2015.

Angelakis currently is a senior advisor to Comcast’'s executive management committee and deputy chairman of the board for the Federal Reserve Bank of Philadelphia. He also serves as a Babson College trustee.

He soon will be chairman and chief executive officer of a new strategic company he'’s forming, in partnership with Comcast, that will focus on investing in and operating growth-oriented companies, domestically and internationally.

Angelakis served as Comcast’'s vice chairman and CFO from 2007 to July 2015, overseeing the global media and technology company’s strategic planning, corporate development, investor relations, taxation, and internal and external reporting units.

Institutional Investor magazine named Angelakis to its list of “America'’s Best CFOs” six different years during his tenure.

"“Michael Angelakis has had an exceptional career in corporate finance and will be a valuable addition to Duke Energy'’s board,"” said Duke Energy board chair Ann Gray.

"“He has shown leadership, vision and creativity in every position he has held,”" added Duke Energy CEO and president Lynn Good, who serves as board vice chair.

Earlier in his career, Angelakis held the posts of managing director at Providence Equity Partners; CEO and president at State Cable TV Corp. and Aurora Telecommunications; and vice president at Manufacturers Hanover Trust Co.

On Duke Energy’'s board, he will serve on the finance and risk management committee and the audit committee.

Angelakis, 51, is a graduate of Babson College and Harvard Business School’s Owner/President Management Program.

About Duke Energy

Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest. Its commercial power and international energy business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.