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Board of Directors

An effective board of directors is considered one of the strongest indicators of shareholder value and good governance. Elected annually, the 2008 slate of directors consists of 10 outside members in addition to Jim Rogers, Duke Energy’s chairman, president and CEO. Ann Maynard Gray serves as lead director. In 2007, two new directors, Daniel R. DiMicco and Philip R. Sharp, were elected to the board. Information on all board members is available at www.duke-energy.com/corporate-governance/board-of-directors/board.asp.

Several corporate governance changes and clarifications were made in 2007. These changes and clarifications included:

  • Clarification of the lead director’s duties and responsibilities
  • Restriction on the number of other public company boards on which our directors may serve
  • Implementation of individual directors’ annual self-assessments
  • Implementation of an annual recommendation by the board of directors regarding a chief executive officer succession plan
  • Prohibition on executive officers selling company stock until such officer is in compliance with the company’s stock ownership requirements

Following the departure of board members who became directors of Spectra Energy Corp, the Duke Energy board determined that Jim Rogers is its only non-independent director. Additional information on corporate governance can be found at www.duke-energy.com/investors/corporate-governance.asp.