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Lynn J. Good Named Duke Energy CFO; David L. Hauser to Retire June 16, 2009

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CHARLOTTE, N.C. -

Duke Energy today named Lynn J. Good group executive and chief financial officer to replace David L. Hauser, who is retiring from Duke to become chairman and chief executive officer of FairPoint Communications, Inc.

For the past 18 months, Good has been group executive and president of Duke’s commercial businesses. She previously served as senior vice president and treasurer. Before the merger of Duke Energy and Cinergy in April 2006, Good served as executive vice president and chief financial officer for Cinergy.

James E. Rogers, Duke chairman, president and chief executive officer, described Good as “a seasoned financial professional.”  Rogers said, “After proving herself in a series of leading financial roles, Lynn welcomed the challenge to lead our commercial businesses. During that tenure, she applied excellent leadership and vision to those businesses and proved her ability to manage a significant profit and loss operation.”

Hauser, who joined Duke in 1973, will take the helm at FairPoint on July 1. The company is headquartered in Charlotte and owns and operates local exchange companies in 18 states, providing services such as local and long distance phone and broadband services. Hauser has served on FairPoint’s board of directors since 2005.

“During his 35-year career at Duke, David has demonstrated a unique blend of financial acumen, business savvy and focus on shareholder value,” Rogers said. “He has helped lead Duke through some of its most challenging times, most notably, the collapse of the energy markets following the Enron bankruptcy in late 2001.”

Before joining Cinergy in 2003, Good was a partner with Deloitte & Touche. She started her career at Arthur Anderson. Good serves on the board of directors of Hubbell, Inc. She is also a board member of the Bechtler Art Museum in Charlotte. She is a graduate of Miami University in Oxford, Ohio.

Good assumes her new role July 1. Rogers said a successor to lead Duke Energy’s commercial businesses will be named in the near future. In the interim, Good will continue to lead that business.

Duke Energy is the third largest electric power holding company in the United States, based on kilowatt-hour sales. Its regulated utility operations serve approximately 4 million customers located in five states – North Carolina, South Carolina, Indiana, Ohio and Kentucky -- representing a population of approximately 11 million people. Duke Energy’s commercial power and international business segments operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. The company’s web address is www.duke-energy.com.


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