CHARLOTTE, N.C., Nov. 6, 2015 /PRNewswire/ -- Piedmont
Natural Gas (NYSE: PNY) Chairman, President and CEO
Thomas E. Skains announced today his
intent to retire from the company at the time Duke Energy's
acquisition of Piedmont Natural Gas closes. The two companies
expect the close will occur during the latter half of
2016.
In announcing his intention to retire, Mr. Skains said, "I am
making this personal decision now to help make sure we move forward
with the transition and allow the Duke
and Piedmont management teams to
make important long-term leadership, organizational and integration
decisions for the new Piedmont Natural Gas operations subsidiary of
Duke Energy." Skains continued, "I am very excited about all
the opportunities this strategic combination offers to our
customers and our employees. Lynn
Good and I want to ensure this is a smooth transition for
our organizations."
Mr. Skains will continue to lead Piedmont Natural Gas as its
Chairman, President and CEO until the transaction is approved and
closed.
About Piedmont Natural Gas
Piedmont Natural Gas is an
energy services company primarily engaged in the distribution of
natural gas to more than 1 million residential, commercial,
industrial and power-generation utility customers in portions of
North Carolina, South Carolina and Tennessee, including customers served by
municipalities that are wholesale customers. Its subsidiaries are
invested in joint venture, energy-related businesses, including
unregulated retail natural gas marketing, regulated interstate
natural gas transportation and storage, and regulated intrastate
natural gas transportation businesses. More information about
Piedmont Natural Gas is available at www.piedmontng.com.
Additional Information and Where to Find It
This communication does not constitute a solicitation of any
vote or approval. The Company intends to file with the SEC and mail
to its shareholders a proxy statement in connection with the
proposed merger transaction. PIEDMONT NATURAL GAS COMPANY, INC.
(PIEDMONT) URGES INVESTORS AND
SECURITY HOLDERS TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION about Duke Energy Corporation (Duke), Piedmont
and the proposed merger. Investors and security holders will be
able to obtain these materials (when they are available) and other
documents filed with the SEC free of charge at the SEC's website,
www.sec.gov. In addition, a copy of Piedmont's proxy statement (when it becomes
available) may be obtained free of charge from Piedmont Natural Gas
Company, Inc., Corporate Secretary, 4720 Piedmont Row Drive
Charlotte, North Carolina, 28210.
Investors and security holders may also read and copy any reports,
statements and other information filed by Piedmont with the SEC, at the SEC public
reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 or visit the SEC's website for further information
on its public reference room.
Participants in the Merger Solicitation
Piedmont and its directors,
executive officers and certain other members of management and
employees may be deemed to be participants in the solicitation of
proxies in respect of the proposed transaction. Information
regarding Piedmont's directors and
executive officers is available in its proxy statement filed with
the SEC on January 6, 2015 in
connection with its 2015 annual meeting of shareholders. Other
information regarding the participants in the proxy solicitation
and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained in the proxy
statement and other relevant materials to be filed with the SEC
when they become available.
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SOURCE Piedmont Natural Gas