UPDATE 2-Duke Energy turns to insider to succeed CEO Rogers
* Rogers steps down as chief executive July 1
* Change is part of regulatory settlement
* Duke shares edge up on NYSE
June 18 (Reuters) - Duke Energy Corp, the largest U.S. power provider, has turned to an insider, Chief Financial Officer Lynn Good, to take over as CEO when Jim Rogers steps down as part of a regulatory settlement.
Rogers was expected to retire when Duke's $18 billion takeover of Progress Energy closed last July. Progress CEO William Johnson was set to take the top job, but he was ousted by Duke's board of directors just hours after the deal closed.
Johnson's removal triggered anger in North Carolina, the merged company's largest market, and led to hearings that resulted in a settlement with regulators formalizing Rogers's exit.
Rogers, 65, will step down as CEO on July 1. He will continue as Duke chairman until his retirement on Dec. 31.
Good, 54, a veteran of the U.S. utility industry, has held the CFO post since July 2009.
Andrew Bischof, a utility company analyst at Morningstar in Chicago, said an external candidate would have better been able to repair the company's relationship with North Carolina regulators.
Even so, Good's experience leaves her "well positioned to continue on the integration of Progress Energy," he said, and other analysts agreed.
"She's highly competent; she knows the ropes so there won't be a learning curve," said Paul Patterson, an analyst at Glenrock Associates in New York.
Good joined Cinergy, a Duke Energy predecessor company, in 2003 after 20 years in senior management roles and as a partner for Deloitte & Touche and Arthur Andersen.
Duke's board will name one of its independent directors to assume the responsibilities of chairman as of Jan. 1, 2014, the company said in a statement.
Duke serves about 7.2 million electricity customers in six states in the U.S. Southeast and Midwest.
Shares of Duke rose 43 cents to $68.08 in midday New York Stock Exchange trading.