A shocking change.

• Position: Charlotte

Charlotte-based Duke Energy Corp. keeps its promises. Sort of. It stuck to its merger agreement with Raleigh-based--Progress Energy Inc. by naming Bill Johnson Progress' chief executive--CEO after the two utilities became one July 2. But within hours, Duke's board had forced Johnson's resignation. Jim Rogers, former Duke CEO who was to become executive chairman of the merged company, the nation's largest electric utility, got his old job back.

Duke's board, Rogers told the N.C. Utilities Commission, had grown wary of Johnson's "autocratic" management style and the performance of Progress' nuclear fleet. Johnson contends Duke wanted out of the deal after costs skyrocketed because of concessions made to regulators.

20 minutes

Time directors needed after the merger dosed to vote to ask for Johnson's resignation

2 hours, 45 minutes

Time it took after the merger closed for the board to inform Johnson that it wanted his resignation

$44 million

Approximate amount Johnson earned as Duke CEO, based on the exit package he got

$1.3 billion

...