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North Carolina agencies investigating Duke Energy CEO shuffle

HOUSTON (Reuters) – North Carolina officials late Friday launched two investigations into the surprising move by Duke Energy Corp┬ádirectors to replace former Progress Energy Chief Executive Bill Johnson with Duke CEO Jim Rogers, just a day after a deal to create the largest U.S. utility company was finalized.

The North Carolina Utilities Commission, which approved Duke’s $18 billion buyout of Progress late last week, ordered Rogers to appear at a hearing Tuesday to answer questions on the timing of the decision to replace Johnson, the commission said in a two-page order.