Duke Energy 2012 Annual Report Download - page 12

As announced, I will retire from Duke Energy by
the end of 2013. So this is my last year at the
company – and my 25th as a CEO in this industry.
This makes me even more focused on putting
Duke Energy in the strongest position for the future
and ensuring a smooth transition for the next CEO.
Naturally, I’ve also reflected on my own journey in
this business, dating back to 1988 at PSI Energy
(now Duke Energy Indiana) based in Plainfield, Ind.
It was a small utility, with mostly coal-fired plants,
serving 500,000 customers in one state.
In contrast, today’s Duke Energy is the largest
electric utility in the U.S., with more than $100
billion in assets. We serve more than 7 million retail
customers in six states with a diversified generation
portfolio. And we have a commercial presence in
international markets and in renewable energy that
I couldn’t envision in 1988.
I’m grateful for the support of exceptional leaders,
board members and employees throughout my
career. They’ve been generous with their advice
(quite pointed at times) and hard work.
Such collaboration enabled us to accomplish many
things over my 25 years. We’ve delivered total
shareholder returns at an average rate above 12
percent per year.
We also dramatically reduced our environmental
footprint. I supported the 1990 federal acid-rain
legislation and have been advocating for our nation
to take stronger action on climate change. This
advocacy has sometimes raised hackles within the
industr y, even as some critics pressed hard for us to
do more, faster.
Throughout my career, I’ve tried to anticipate what’s
coming and what’s possible, never taking success
for granted. That’s often caused me to challenge
conventional wisdom. I’ve also learned to listen
for what’s really on people’s minds – and to foster
a performance culture that empowers people and
drives results through collaboration.
I’ve long focused on developing strong leaders, and
am proud of the growing number of highly effective
women leaders in our organization. Today, Duke Energy
has an experienced senior leadership team, arguably
the most diverse, talented team in the business.
A decade from now, we will look back on 2012-
2013 as a great new beginning for this company
and the people who count on us.
Duke Energy Corporation 2012 Annual Report
A personal journey
James E. Rogers
Chairman, President and Chief Executive Officer
March 8, 2013
Duke Energy Corporation 2012 Annual Report
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