Duke Energy board elects Gray as chair, Good as vice chair

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CHARLOTTE, N.C. - Duke Energy’'s board of directors has unanimously elected lead director Ann Maynard Gray as its new chair, effective Dec. 31, 2013.

The board also has unanimously elected Lynn Good – who will replace Jim Rogers as president and CEO on July 1, 2013 – as vice chair, effective July 1.

Gray has been lead director since 2004 and a board member at Duke Energy or its predecessor companies since 1994. She is also a board member at The Phoenix Companies, Inc., and has served on the boards of several other New York Stock Exchange companies.

Gray was president of Diversified Publishing Group of ABC, Inc., a television, radio and publishing company, and prior to that held several senior financial positions at ABC.

Rogers will remain chair through the end of 2013, when he retires from the company.

Until then, Gray will serve as lead director and chair-elect, assisting Good and the board to ensure a smooth management transition.“

"I’'m honored that my fellow board members have asked me to serve as chair,"” Gray said. "“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.”"

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About Duke Energy

Duke Energy is the largest electric power holding company in the United States with more than $110 billion in total assets. Its regulated utility operations serve approximately 7.2 million electric customers located in six states in the Southeast and Midwest. Its commercial power and international 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: www.duke-energy.com. 

Forward-Looking Information

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’'s beliefs and assumptions.

These forward-looking statements are identified by terms and phrases such as “"anticipate,"” "“believe,"” "“intend,”" “"estimate,”" “"expect,”" "“continue,"” "“should,”" “"could,"” "“may,"” "“plan,"” "“project,"” "“predict,"” "“will,"” "“potential,”" "“forecast,"” "“target,”" “"guidance,"” "“outlook"” and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to: state, federal and foreign legislative and regulatory initiatives; the possibility that the impact of compliance with material conditions imposed by regulators related to the Progress Energy merger could exceed our expectations; and continued industry consolidation.

Additional risks and uncertainties are identified and discussed in Duke Energy'’s and its subsidiaries'’ reports filed with the SEC and available at the SEC'’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.