MERRILLVILLE, Ind. (AP) -- Utility holding company NiSource Inc. said Tuesday its chairman and former president and chief executive Gary L. Neale will not stand for re-election to the board when it meets in May 2007.

In a statement, Neale said stepping down from the board is "the next step in a planned, orderly transition at NiSource."

Effective Nov. 29, Ian M. Rolland will take over as chairman of the board to facilitate the transition.

Rolland was chairman and CEO of Lincoln National Corp., a Fort Wayne, Ind.-based financial services company, until his retirement in 1998. He is currently the chairman of NiSource's audit committee. Board member Dennis E. Foster will replace him in that role.

NiSource's stock added 34 cents to end at $23.89 on the New York Stock Exchange