American Electric Power Company Inc. has added Steve Rasmussen to its board of directors, saying Tuesday that the insurance executive’s professional experience will help the utility grow its business.
Rasmussen, 60, has been CEO of insurer Nationwide since 2009.
Naming Rasmussen to AEP’s board expands it to 14 directors.
AEP, based in Columbus, Ohio, is one of the largest electric utilities in the United States, with customers in 11 states.
Its shares increased 11 cents to $44.56 in early afternoon trading.