Progress Energy 2009 Annual Report Download - page 214

PROXY STATEMENT
76
PROPOSAL 2—RATIFICATION OF SELECTION OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Audit and Corporate Performance Committee of our Board of Directors (the “Audit Committee”)
has selected Deloitte & Touche LLP (“Deloitte & Touche”) as our independent registered public accounting firm
for the fiscal year ending December 31, 2010, and has directed that management submit the selection of that
independent registered public accounting firm for ratification by the shareholders at the 2010 Annual Meeting
of the Shareholders. Deloitte & Touche has served as the independent registered public accounting firm for our
Company and its predecessors since 1930. In selecting Deloitte & Touche, the Audit Committee considered carefully
Deloitte & Touche’s previous performance for us, its independence with respect to the services to be performed
and its general reputation for adherence to professional auditing standards. A representative of Deloitte & Touche
will be present at the Annual Meeting of Shareholders, will have the opportunity to make a statement and will be
available to respond to appropriate questions. Shareholder ratification of the selection of Deloitte & Touche as
our independent registered public accounting firm is not required by our By-Laws or otherwise. However, we are
submitting the selection of Deloitte & Touche to the shareholders for ratification as a matter of good corporate
practice. If the shareholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain
Deloitte & Touche. Even if the shareholders ratify the selection, the Audit Committee, in its discretion, may direct
the appointment of a different independent registered public accounting firm at any time during the year if it is
determined that such a change would be in the best interest of the Company and its shareholders.
Valid proxies received pursuant to this solicitation will be voted in the manner specified. Where no
specification is made, the shares represented by the accompanying proxy will be voted “FOR” the ratification of
the selection of Deloitte & Touche as our independent registered public accounting firm. Votes (other than votes
withheld) will be cast pursuant to the accompanying proxy for the ratification of the selection of Deloitte & Touche.
The proposal to ratify the selection of Deloitte & Touche to serve as our independent registered public
accounting firm for the fiscal year ending December 31, 2010, requires approval by a majority of the votes actually
cast by holders of Common Stock present in person or represented by proxy at the Annual Meeting of Shareholders
and entitled to vote thereon. Abstentions from voting and broker nonvotes will not count as shares voted and will not
have the effect of a “negative” vote, as described in more detail under the heading “PROXIES” on page 2.
The Audit Committee and the Board of Directors recommend a vote “FOR” the ratification of the selection
of Deloitte & Touche as our independent registered public accounting firm.