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Shareholders Seek Removal of Duke Board Members

Duke Energy logoThe California Public Employees’ Retirement System and the New York City Pension Funds are urging fellow shareholders in Duke Energy not re-elect four members of the company’s regulatory policy and operations committee at the May 1 annual meeting.

The four directors — G. Alex Bernhardt Sr., James B. Hyler Jr., James T. Rhodes and Carlos Saladrigas — “have failed to fulfill their obligations of risk oversight as members of a committee overseeing health, safety, and environmental compliance at the company,” a letter filed with the Securities and Exchange Commission said.

About 39,000 tons of ash spilled from a pond at a shuttered coal-fired power plant near Eden, North Carolina Feb. 2, triggering investigations and subpoenas. The incident, the third-largest coal-ash spill in the U., coated 70 miles of the Dan River.

A federal grand jury is probing the state’s oversight of the company’s 33 coal-ash ponds in North Carolina.

 

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