News Release
Oct. 16, 2002


Sue Becht will retire Feb. 1 after distinguished 27-year Duke Energy career


CHARLOTTE, N.C. -- Duke Energy announced today that Gregory L. Ebel, managing director of mergers and acquisitions, will lead the company’s investor relations function as vice president, investor and shareholder relations, effective Nov. 1, replacing Sue A. Becht, who has led the investor relations function since 1997. Becht announced plans to retire effective Feb. 1. Ebel will report to Robert P. Brace, executive vice president and chief financial officer.


“Sue Becht has demonstrated outstanding leadership throughout her distinguished 27-year career with Duke Energy,” Brace said. “Sue and her team have been instrumental in building a strong relationship between Duke Energy and the investment community.


“Greg Ebel brings a wealth of experience in developing and maintaining key external relationships,” Brace continued. “His previous position with Westcoast Energy, combined with his leadership roles at the World Bank and the Canadian federal government, give him the experience that will be critical in managing Duke Energy’s relationship with the investment community.”


Ebel, 38, joined Duke Energy as a result of the March 2002 acquisition of Westcoast Energy. As vice president of strategic development, he was responsible for the merger and acquisition activities of Westcoast as well as the development of the five-year financial forecast and analytics associated with major capital investments across Westcoast Energy companies.  Ebel joined Westcoast in 1998 and served as the secretary of Westcoast’s Capital Allocation Committee. 


Prior to joining Westcoast Energy, Ebel was advisor to the executive director of the World Bank Group in Washington, D.C., where he had oversight responsibility for investment proposals of the International Finance Corporation, the private sector investment arm of World Bank. Previously, Ebel was chief of staff to the minister of finance and deputy prime minister of Canada and the senior advisor on privatization.


Ebel, a native of Brampton, Ontario, began his career as an analyst with Decima Research in Toronto. He received a bachelor of arts degree from York University in 1987 and is a graduate of the Harvard Business School's advanced management program.


Becht, 59, joined Duke Power in 1975 as an accountant. In 1978, she moved to the treasury area. She was named treasurer in 1988, after holding several treasury management positions, including that of assistant treasurer; named vice president, investor relations, in 1997; and appointed senior vice president, investor relations, in 2000. She is a native of El Paso, Texas, and has lived in North Carolina and South Carolina since 1972. She received her bachelor of science degree in accounting from the University of North Carolina at Charlotte.


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 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at:


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