(Adds analyst comment and updates shares.)
Algonquin Power & Utilities (AQN.TO, AQN) on Friday appointed Rod West as its chief executive, effective March 7.
West succeeds Chris Huskilson, who is stepping down from the role but will continue as a board member.
West most recently served as group president of utility operations for Entergy.
"We are confident Rod's deep experience and track record of delivering outstanding customer service and creating value in the regulated utility industry will accelerate the company's transformation for the benefit of our customers, shareholders, and the entire Algonquin team," said board chair Randy Laney.
National Bank of Canada retained its outperform rating and US$6.75 price target following the announcement.
The bank expects the market to respond well to the appointment and reduce uncertainty regarding the company's transition.
"Mr. West appears to be a good fit with the company as it completes its transition to become a pure-play regulated utility in the U.S.," the bank said.
Algonquin shares were last seen up $0.20 to $6.45 on the Toronto Stock Exchange.
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