By The Associated Pres
KNOXVILLE, Tenn. — The chairman of the Tennessee Valley Authority board, former Republican National Committee chairman Mike Duncan, has bowed out as TVA chairman, saying he needs to free up time for political fundraising.
A TVA e-mail said Duncan is remaining on the board. The panel at a meeting in Knoxville unanimously named Nashville venture capital executive Dennis Bottorff as its new chairman.
A Kentucky bank chairman, Duncan said he is helping lead a national political fundraising organization, American Crossroads.
Bottorff will start a two-year term as TVA chairman May 18. He said he hopes to help TVA “navigate these critical times.”
The nation’s largest public utility has about 9 million consumers in Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.