Duke Energy utility CEO got big boosts to severance, pay

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RALEIGH, N.C. (AP) – Duke Energy Corp.’s board is striving to keep CEO Lynn Good on the job, promising a bigger severance package if she’s forced out the door in addition to raising her pay by 55 percent.

A report released Thursday ahead of May’s annual shareholders meeting shows company directors increased Good’s potential severance package to more than $41 million last year, a nearly 50 percent increase over 2016. Shareholders will signal their views on executive pay by voting on a non-binding resolution.

Related: Duke Energy: Utility CEO’s pay jumped to $21 million last year

Good’s total compensation nearly doubled over the past two years to top $21 million last year. The Charlotte-based electric utility’s proxy statement says that includes a one-time retention bonus of $7 million.

The country’s No. 2 electricity company has 7.5 million customers in the Carolinas, Florida, Ohio, Indiana and Kentucky.
 

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