History
In 2000, Carolina Power & Light bought Florida Progress Corporation and changed its name to Progress Energy. The company built a new headquarters in downtown Raleigh in 2004.
On January 10, 2011, Duke Energy announced plans to take over Progress Energy in a $26 billion deal resulting in the country's largest electric utility with 7.1 million customers. Although the headquarters will be in Charlotte, North Carolina, Duke Energy plans to "maintain substantial operations in Raleigh." When the merger was completed on July 3, 2012, Duke Chairman James E. (Jim) Rogers became Chairman and CEO of the new combined company, while Progress CEO Bill Johnson resigned.
Read more about this topic: Progress Energy Inc
Famous quotes containing the word history:
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