News Release
Dec. 04, 2002

DUKE ENERGY ANNOUNCES LEADERSHIP CHANGES

CHARLOTTE -- Duke Energy President and Chief Operating Officer Fred Fowler today announced key organizational and management changes in Energy Services and Gas Transmission.

 

"Duke Energy is addressing current market conditions and positioning for the future,” said Fowler. “We're driving results in every line of business. We are focusing significant management attention and top talent on the weakened merchant power and energy trading and marketing businesses and expect improvements in the performance of those businesses,” Fowler said.

 

The Energy Services group is being reorganized from a group structure into two major lines of business. Robert T. Ladd, currently president of Duke Capital Partners, has been named president and CEO of Duke Energy North America (DENA), including merchant generation and energy trading and marketing. Richard J. McGee will continue as president and CEO of Duke Energy International. 

 

"The reorganization of Energy Services is significant, and it must be done well,” said Fowler. “Bobby Evans, who has provided superior leadership as president and CEO   of Duke Energy Gas Transmission (DEGT), will serve as transition executive for this effort. Bobby will manage the seamless transition of all of the current Energy Services businesses from the current group structure to the go-forward organization.” Evans will report to Fowler during this transitional assignment.

 

Thomas C. O'Connor, currently president of DEGT's eastern operations, has been named president and CEO of DEGT, reporting to Fowler. O’Connor joined Duke Energy’s predecessor company in 1987 and has served in a number of positions of increasing responsibility, including senior operations and marketing positions at DEGT. He is also president of Maritimes & Northeast Management Company, which is responsible for the U.S. portion of the Maritimes & Northeast pipeline. 

 

Fowler's other direct reports are William A. Coley, president, Duke Power, and Jimmy W. Mogg, president and chief executive officer, Duke Energy Field Services.

 

“Duke Energy’s management team is strong and deep. Our approach to leadership development is to move our top talent into areas of opportunity where they can make a significant impact. Tom, Rob and Bobby are exceptional leaders, with demonstrated performance in operations, business development and customer relationships,” said Fowler.

 

This reorganization eliminates the group president roles from Duke Energy Transmission, formerly occupied by Fowler, and from Energy Services. Harvey Padewer, group president of Energy Services, has announced his resignation from the company, as has Jim Donnell, formerly president and chief executive officer of DENA.

 

In other management announcements, Frank T. "Chip" Webster has been named president and CEO of Duke Capital Partners, replacing Ladd. Webster is currently managing director of Duke Capital Partners. He will report to Richard J. Osborne, who leads the Duke Ventures business units and serves as chief risk officer.

 

Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses – meeting the energy needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

 

Contact: Cathy Roche
Phone: 704/373-4860
24 Hour Phone: 704/382-8333
Email: csroche@duke-energy.coom