Duke Energy Board and Executive Leadership Changes
Ticker: DUKB · Form: 8-K · Filed: Mar 15, 2024 · CIK: 1326160
| Field | Detail |
|---|---|
| Company | Duke Energy Corp (DUKB) |
| Form Type | 8-K |
| Filed Date | Mar 15, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $900,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointments
Related Tickers: DUK
TL;DR
Duke Energy's Chairman is stepping down, CEO Lynn Good takes over as Chair, and two new directors join the board.
AI Summary
Duke Energy Corp. announced on March 11, 2024, changes in its executive leadership and board of directors. Specifically, Thomas E. Skains will step down as Chairman of the Board, and Lynn Good will assume the role of Chair of the Board, in addition to her CEO position. The company also elected two new independent directors, Robert J. L. Brown and Theodore F. Noll, to its Board.
Why It Matters
This filing indicates a shift in leadership at Duke Energy, which could impact the company's strategic direction and governance.
Risk Assessment
Risk Level: low — The filing details routine board and executive changes, which are common corporate governance events.
Key Players & Entities
- Duke Energy Corp. (company) — Filer of the 8-K
- Thomas E. Skains (person) — Stepping down as Chairman of the Board
- Lynn Good (person) — Assuming role of Chair of the Board and continuing as CEO
- Robert J. L. Brown (person) — Elected as new independent director
- Theodore F. Noll (person) — Elected as new independent director
FAQ
Who is stepping down as Chairman of the Board at Duke Energy?
Thomas E. Skains is stepping down as Chairman of the Board.
Who will assume the role of Chair of the Board at Duke Energy?
Lynn Good will assume the role of Chair of the Board.
What other role does Lynn Good hold at Duke Energy?
Lynn Good will continue in her role as CEO of Duke Energy.
How many new independent directors were elected to the Board?
Two new independent directors, Robert J. L. Brown and Theodore F. Noll, were elected.
What is the effective date of these changes?
The filing indicates the date as March 11, 2024.
Filing Stats: 825 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-03-15 08:40:08
Key Financial Figures
- $0.001 — registered Duke Energy Common Stock, $0.001 par value DUK New York Stock Exchange
- $900,000 — ation approved an annual base salary of $900,000, a short-term incentive opportunity equ
Filing Documents
- tm248936d1_8k.htm (8-K) — 33KB
- tm248936d1_ex99-1.htm (EX-99.1) — 19KB
- tm248936d1_8kimg001.jpg (GRAPHIC) — 16KB
- tm248936d1_ex99-1img001.jpg (GRAPHIC) — 4KB
- tm248936d1_ex99-1img002.jpg (GRAPHIC) — 2KB
- tm248936d1_ex99-1img003.jpg (GRAPHIC) — 2KB
- 0001104659-24-034815.txt ( ) — 349KB
- duk-20240311.xsd (EX-101.SCH) — 5KB
- duk-20240311_def.xml (EX-101.DEF) — 27KB
- duk-20240311_lab.xml (EX-101.LAB) — 40KB
- duk-20240311_pre.xml (EX-101.PRE) — 26KB
- tm248936d1_8k_htm.xml (XML) — 8KB
02. Departure of Directors or Certain Officers;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 15, 2024, Duke Energy Corporation (the "Corporation") announced that Mr. Harry K. Sideris has been appointed as President, effective April 1, 2024. Mr. Sideris, age 53, has served as Executive Vice President, Customer Experience, Solutions and Services since May 2021. From October 2019 to May 2021, he served as Senior Vice President, Customer Experience and Services, and from June 2018 to October 2019 he served as Senior Vice President, Chief Distribution Officer. Prior to that he served in various other leadership positions, including State President, Florida, since joining the Corporation and its predecessors in 1996. In connection with the appointment of Mr. Sideris as President, the Compensation and People Development Committee of the Board of Directors of the Corporation approved an annual base salary of $900,000, a short-term incentive opportunity equal to 115% of his annual base salary, and a long-term incentive opportunity equal to 475% of his annual base salary, all effective as of April 1, 2024. The Compensation and People Development Committee also approved his annual award under the 2024 long-term incentive program, which consistent with past practice, was allocated 30% to restricted stock units and 70% to performance shares, and otherwise is subject to the terms of our long-term incentive program. Mr. Sideris will continue to participate in the compensation and benefit plans in which he was participating prior to his appointment. Mr. Sideris has not entered into, and no amendments were made to, any other material plans, contracts or arrangements in connection with his appointment. The Corporation also announced on March 15, 2024, that Ms. Lynn J. Good, who currently serves as President and Chief Executive Officer of the Corporation, and the Chair of the Board of Directors, will continu
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d)Exhibits. 99.1 Press Release, dated March 15, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DUKE ENERGY CORPORATION Date: March 15, 2024 By: /s/ David S. Maltz David S. Maltz Vice President, Legal, Chief Governance Officer and Assistant Corporate Secretary