Duke Energy names Paul M. Anderson chairman and CEO

Duke Energy Corp., Charlotte, NC, announced that it has appointed Paul M. Anderson as chairman and CEO, effective Nov. 1.

Oct. 9, 2003

By OGJ editors
HOUSTON, Oct. 9 -- Duke Energy Corp., Charlotte, NC, announced that it has appointed Paul M. Anderson as chairman and CEO, effective Nov. 1.

Anderson served as Duke Energy president and chief operating officer following the merger of Duke Power Co. and PanEnergy Corp. (OGJ, Dec. 2, 1996, p. 44). At the time of the merger, he was chairman, president, and CEO of PanEnergy.

Anderson left Duke Energy in 1998 to become managing director and CEO of BHP Ltd., which later merged with Billiton PLC to create BHP Billiton Petroleum Pty. Ltd. He led BHP Billiton as CEO until his retirement in 2002.

At Duke, Anderson will replace Richard B. Priory, who announced he will retire in early 2004. Priory will work with Anderson during the transition period.

Merrill Lynch Global Securities Research & Economics Group issued a statement saying that analysts consider "the management change as a positive catalyst for the company's longer-term recovery."