Duke reaches North Carolina settlement; CEO to leave in 2013

Thu Nov 29, 2012 5:28pm EST

Nov 29 (Reuters) - Duke Energy Corp said on Thursday that its chief executive would step down in 2013 as the utility also unveiled a settlement with North Carolina agencies over the company's leadership following its takeover of Progress Energy this year.

Duke said the parties agreed the settlement did not represent an admission or acknowledgement of illegal or improper acts by the company.

In a separate statement released at the same time, Duke said Jim Rogers, who has been its CEO since 2006, will retire by the end of 2013, when his employment contract expires.