Who is Charles W. Moorman and what is his background?

Charles W. Moorman is a newly appointed director to Duke Energy's Board. He previously held top leadership positions at Norfolk Southern Corporation, including President, Chief Executive Officer, and Chairman. His extensive experience in a major industrial company is expected to benefit Duke Energy.

What committees will Mr. Moorman serve on?

Effective March 1, 2016, Mr. Moorman will serve on the Nuclear Oversight Committee. He is also slated to join the Compensation Committee starting May 5, 2016.

How will Mr. Moorman be compensated as a director?

As a non-employee director, Mr. Moorman will receive a pro-rated annual retainer (cash and stock) and meeting fees as per Duke Energy's Director Compensation Program. He will also be eligible for the Directors' Savings Plan.

Are there any stock ownership requirements for Mr. Moorman?

Yes, Mr. Moorman is subject to Duke Energy's Stock Ownership Guidelines for outside directors. These guidelines require directors to own Duke Energy stock or equivalents valued at least five times the annual cash retainer ($450,000), or to retain 50% of vested equity until this minimum is met.

Duke Energy CORP 8-K: Leadership Changes

Summary

Duke Energy Corporation (DUK) announced the appointment of Charles W. Moorman to its Board of Directors, effective March 1, 2016. Mr. Moorman brings extensive experience, having previously served as Chairman and CEO of Norfolk Southern Corporation. His appointment is a significant development for the board's oversight capabilities. Mr. Moorman will serve on the Nuclear Oversight Committee starting March 1, 2016, and will join the Compensation Committee effective May 5, 2016. As a non-employee director, his compensation will align with the company's established Director Compensation Program, including annual retainers and meeting fees. He will also be subject to the company's stock ownership guidelines, emphasizing alignment with shareholder interests.

Key Highlights

1Charles W. Moorman appointed to Duke Energy's Board of Directors, effective March 1, 2016.
2Mr. Moorman brings significant executive leadership experience from his tenure at Norfolk Southern Corporation.
3He has been appointed to the Nuclear Oversight Committee, effective March 1, 2016.
4He will also join the Compensation Committee, effective May 5, 2016.
5As a non-employee director, Mr. Moorman will receive compensation per the company's standard Director Compensation Program.
6Mr. Moorman is subject to Duke Energy's stock ownership guidelines for directors.

Duke Energy CORP 8-K Report, Executive Changes (Feb 29, 2016)

Summary

Key Highlights

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