Economy

January 13, 2011

Progress Energy CEO eligible for $8 million in compensation

Progress Energy chief executive Bill Johnson would be eligible for nearly $8 million in pay when he becomes CEO of the combined Duke Energy and Progress Energy. If the merger is approved, Johnson, 57, will make a base salary of $1.1 million, according to the company's regulatory filings. He also would be eligible for incentive compensation worth up to about $6.9 million, and various other perks under Duke's compensation policy.

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