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Mining executive and former Duke Energy Corp. president Paul Anderson will take over as chairman and chief executive officer at Duke Energy next month, replacing Rick Priory, the Charlotte-based company said Tuesday.

Although Anderson will take over on Nov. 1, Priory will remain on as an adviser until his retirement in 2004.

"I responded to the board (of directors) when they asked me if I would come back," Anderson said in a hastily arranged teleconference from Melbourne, Australia. He deflected questions from reporters about whether Priory was being forced out.

"Rick has told them for some time now that he intended to retire," Anderson said. "The board was concerned about making the transition when the industry was going through a lot of turmoil."

Anderson served as president and chief operating officer of Duke Energy immediately following the 1997 merger of Duke Power and PanEnergy. He left Duke Energy in 1998 to become managing director and chief executive officer of BHP...