NORTHBROOK, Ill. (AP) -- Insurance provider Allstate Corp.'s board of directors has elected the CEO of utility company Exelon Corp. to join Allstate's board.
Allstate said Tuesday that John Rowe's election to the board will increase the number of directors to 12.
Rowe, 66, will stand for election, along with all other board members, at the company's annual meeting in May. While the directors have already voted to add Rowe to the board, all the directors must be approved at the annual meeting, a company spokeswoman said.
Rowe plans to retire this year from Exelon after that company completes its merger with Constellation Energy.
Shares of Allstate rose 21 cents, or nearly 1 percent, to close at $30.84.
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