RALEIGH: 2 Duke Energy shareholders want 4 directors out - WNCN: News, Weather

Raleigh's Hyler among Duke Energy directors targeted by shareholders

Posted: Updated:

Two of Duke Energy’s large shareholders want four of its directors voted out following the massive coal ash spill into the Dan River in February, according to an April 14 filing with the U.S. Securities and Exchange Commission.

CalPERS and the New York City Pension Funds, are long-term shareowners in the company. In the filing, they ask other shareowners to vote against the re-election of G. Alex Bernhardt, Sr., James B. Hyler, Jr., James T. Rhodes, and Carlos A. Saladrigas at the company’s annual meeting on May 1.

Hyler, of Raleigh, is a former president of First Citizens and a former president of the United States Golf Association. He has been a director for the company since 2008.

In the filing, CalPERS and the NYC Pension Funds say that the four directors “failed to fulfill their obligations of risk oversight as members of a committee overseeing health, safety, and environmental compliance at the company.”

Duke Energy is responsible for a Feb. 2 coal ash spill that dumped up the ash into the Dan River.

Duke Energy, the SEC filing says, had forewarning of the potential risk after environmental groups took the company to court three times in an effort to clean up ash ponds.

Inspection reports dating back to 2006 obtained by WNCN Investigates show Duke Energy had long known of potential issues with a pipe under the coal ash pond located near the Dan River. At the time, inspectors recommended using a camera to check inside the pipe for any leaks.

Cleanup of the Dan River began April 1.

WNCN asked for a response from the Duke Energy Board of Directors, but they declined to comment.

Copyright 2014 WNCN. All rights reserved.


Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.