American Electric Power Co. said Tuesday that its board has elected the power company's president to be its next CEO.
AEP, based in Columbus, Ohio, said Nicholas Akins will remain president when he takes over as chief executive after Michael Morris retires from that position on Nov. 11, as scheduled.
Morris said in a statement that his eight years as CEO were marked by a series of challenges for the industry and the nation. He says the 51-year-old Akins is the right person to lead AEP at a time when the U.S. faces difficult decisions about its energy future.
The company said Morris, 64, will continue to serve as executive chairman of AEP's board until Dec. 31, when he will become non-executive chairman.
AEP is one of the nation's largest electric utilities with more than 5 million customers in 11 states.