Progress Energy CEO Hospitalized Following Stroke

The chairman and chief executive of Progress Energy Inc. has suffered a stroke and is in intensive care at a London hospital.

Bob McGehee and two other executives from the Raleigh-based
electric utility were in London were planning to meet with investors in the English capital this week. The 64-year-old McGehee had the stroke on Sunday and is undergoing care at London's Charing Cross Hospital.

McGehee is a U.S. Navy veteran who joined the company in 1997 as
senior vice president and general counsel. He took over president and chief operating officer in 2002, and became the company's top
executive in 2004.

Progress Energy delivers power to 3.1 million customers in both North and South Carolina, and Florida. Chief operating officer Bill Johnson is running the company in McGehee's absence.