Duke Energy said Friday that its board elected former U.S. ambassador William Kennard as a director of the power company, effective Jan. 1.
Kennard, 56, was the ambassador to the European Union from 2009 to August 2013. Before that, he was managing director of private equity firm The Carlyle Group LP from 2001 to 2009. From 1997 to 2001 he was chair at the Federal Communications Commission.
He is on the board of insurer MetLife Inc. and has also served on the boards of The New York Times Co., Sprint Nextel Corp. and several companies owned by Carlyle.
"Bill Kennard's deep federal regulatory and international experience, combined with his previous board experience, represent valuable additions to Duke Energy's existing board," said the board's lead director Ann Gray. She will become the board's chairman on Jan. 1.
Charlotte, N.C.-based Duke Energy Corp. stock closed up 38 cents to $71.13 Friday.