Progress Energy 2010 Annual Report Download - page 147

Progress Energy Proxy Statement
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decision making regarding executive compensation, succession planning, diversity and other matters. Her experience
will continue to be beneficial to the Company as shareholders, regulators and legislators continue to focus on executive
compensation and corporate governance issues. Ms. McKee has served as a director of the Company and its
predecessors since 1999. She is Chair of the Board’s Organization and Compensation Committee and a member
of the Executive Committee, the Governance Committee, the Nuclear Project Oversight Committee and the
Operations and Nuclear Oversight Committee.
JOHN H. MULLIN, III, age 69, is Chairman of Ridgeway Farm, LLC, a limited liability company
engaged in farming and timber management, since 1989. He is a former Managing Director of Dillon, Read & Co.,
a former investment banking firm. Mr. Mullin was employed by Dillon Read for approximately 20 years. During
that time, he worked with a diversified mix of clients and was involved in a variety of corporate assignments,
including private and public offerings, and corporate restructurings. Since 1989, Mr. Mullin has managed the
diversified businesses of Ridgeway Farm. He has served on the boards of a number of other major publicly traded
companies, providing him with substantial experience in the areas of corporate strategy, oversight and governance.
Mr. Mullin’s executive and board experience have enabled him to develop the skills needed to work effectively with
other directors, understand board processes and functions, and oversee management. Additionally, as a result of his
many years of service on the Board, Mr. Mullin has developed a keen understanding of the Company’s operations,
the key issues it faces and the Company’s strategy for addressing those issues as it carries out its responsibilities
to its shareholders and other stakeholders. He has effectively utilized his broad and extensive business experiences
and knowledge of the Company to provide leadership to the Company’s Board as Lead Director. Mr. Mullin has
served as a director of the Company and its predecessors since 1999. He is Chair of the Board’s Governance
Committee and a member of the Executive Committee, the Finance Committee and the Organization and
Compensation Committee.
Other public directorships in past five years:
Sonoco Products Company (2002 to present)
Hess Corporation (2007 to present)
Liberty Corporation (1989 until 2006)
Putnam Funds – Trustee (1997 until 2006)
CHARLES W. PRYOR, JR., age 66, is Chairman of Urenco USA Inc. (formerly Urenco Investments,
Inc.), a global provider of services and technology to the nuclear generation industry worldwide, since January
2007. He served as President and Chief Executive Officer of Urenco Investments, Inc. from 2004 to 2006. Mr. Pryor
served as President and Chief Executive Officer of the Utilities Business Group of British Nuclear Fuels from 2002
to 2004. From 1997 to 2002, he served as President and Chief Executive Officer of Westinghouse Electric Co., a
supplier of nuclear fuel, nuclear services and advanced nuclear plant designs to utilities operating nuclear power
plants. Mr. Pryor’s former service as chief executive officer of a multi-billion dollar company provides him with
experience that enables him to understand the financial statements and financial affairs of the Company. He has
extensive experience in managing capital-intensive industries and skillfully addressing regulatory matters, strategic
planning and corporate development. Mr. Pryor’s knowledge and experience in engineering, power generation,
nuclear fuel and the utility industry will be tremendous assets to the Board in the years ahead as our Company
executes its plan to improve the performance of its nuclear fleet and optimizes its balanced solution strategy for
meeting its customers’ future energy needs and complying with public policies while creating long-term value in a
challenging economy and a changing business environment. Mr. Pryor has served as a director of the Company
since 2007. He is Chair of the Board’s Nuclear Project Oversight Committee and a member of the Audit and
Corporate Performance Committee and the Operations and Nuclear Oversight Committee.
Other public directorships in past five years:
DTE Energy Co. (1999 to present)