Ex-Duke Energy CEO to head Tennessee Valley Authority

Mon Nov 5, 2012 3:07pm EST

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Nov 5 (Reuters) - The Tennessee Valley Authority said William Johnson, who was chief executive at Duke Energy for a very brief period, will become CEO of the U.S. government-owned power company.

Johnson, 58, will succeed Tom Kilgore, who has been the CEO of the federal agency since 2006. Johnson's appointment is effective Jan. 1, TVA said in a statement on its website.

Johnson, Progress Energy's former CEO, was ousted from Duke Energy in July, shortly after Duke completed an $18 billion deal with Progress.

Duke had said its board grew frustrated with Johnson's lack of transparency about a troubled nuclear power plant in the months before their merger with Progress closed and his "controlling" management style.

TVA said Johnson will receive $950,000 as annual salary and $3 million in incentives.