(CHARLOTTE) -- Duke Energy confirmed, Tuesday, the closing of its previously announced merger with Progress Energy. The new company will be known as Duke Energy and will remain headquartered in Charlotte, with substantial operations in Raleigh, N.C.

Duke Energy also announced today the newly constituted board of directors has appointed Jim Rogers as president and chief executive officer of the combined company, effective immediately. Rogers will also maintain his responsibilities as chairman of the company's board. Bill Johnson has resigned as president and chief executive officer of the combined company, by mutual agreement.

"The new Duke Energy will be better able to serve our 7.1 million customers' energy needs in a safe, reliable, affordable and increasingly clean manner," said Rogers, chairman, president and chief executive officer of Duke Energy. "As a combined organization, we will work to deliver benefits to our customers, create value for our shareholders, and enhance the career opportunities of our employees."

Rogers continued, "Over the last several months, team members from Duke Energy and Progress Energy worked diligently to ensure we hit the ground running today - day one. I'd also like to thank the regulatory and legal teams that were instrumental in getting us over the finish line.

"I look forward to working together with the executives from Progress and all employees of the combined company to ensure we are constantly striving to improve our levels of safety, operational excellence and customer satisfaction," he added. "I am committed to the successful execution of our strategy and am pleased to move forward as one company."

The new Duke Energy has total assets of more than $100 billion, and 7.1 million electric customers in the Carolinas, Florida, Indiana, Kentucky and Ohio.