Summary
Duke Energy Corporation announced a significant change to its Board of Directors with the appointment of Michael J. Angelakis, effective October 1, 2015. Mr. Angelakis brings extensive financial and executive leadership experience, having previously served as Vice Chairman and Chief Financial Officer at Comcast Corporation. His appointment adds valuable expertise to the Board, particularly given his new role leading a strategic investment company formed with Comcast, focused on growth-oriented businesses. Mr. Angelakis's role on the Board will include participation in the Finance and Risk Management Committee and the Audit Committee, indicating a focus on financial oversight and strategic risk assessment. As a non-employee director, his compensation will be in line with the Company's established director compensation program, including annual retainers and meeting fees, with specific stock ownership guidelines to align his interests with shareholders.
Key Highlights
- 1Michael J. Angelakis appointed to Duke Energy's Board of Directors, effective October 1, 2015.
- 2Mr. Angelakis brings significant financial and executive experience from his tenure as Vice Chairman and CFO of Comcast Corporation.
- 3He will serve on the Finance and Risk Management Committee and the Audit Committee of the Board.
- 4Mr. Angelakis is forming a new strategic investment company in partnership with Comcast, focusing on growth-oriented businesses.
- 5As a non-employee director, his compensation will include pro-rated retainers, meeting fees, and eligibility for the Directors' Savings Plan.
- 6He is subject to the Company's Stock Ownership Guidelines requiring directors to own stock valued at least five times the annual cash retainer.