Duke CEO ‘Worth Every Penny,’ CFO Says, Rebutting Elliott Claims

Duke Energy Corp. chief financial officer Steve Young is pushing back against calls from Elliott Investment Management for the utility owner to revamp its leadership.

The New York-based hedge fund criticized Duke’s leadership and shareholder returns in a letter Monday, asserting that the company has rewarded poor management with additional compensation and other perks, notably a $7 million retention payment to chief executive Lynn Good disclosed in 2018.

“She’s worth every penny of it,” Young said in an interview Tuesday. “She’s one of the most outstanding leaders I’ve ever known.”

He also stressed that Duke has consistently refreshed the membership ...