Electric utility Idacorp ( IDA - Get Report) said J. LaMont Keen will take over as chief executive, replacing Jan B. Packwood, who will retire on July 1.

Keen is currently the company's executive vice president and also president and chief executive of its core electric utility business, Idaho Power.

Packwood has been chief executive of the company since June 1999, the company said. The company's stock closed at $32.63, up 16 cents, on Thursday.

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