John Carter has been named president and chief operating officer-elect of the financial services businesses of Nationwide Mutual Insurance Co. effective immediately, the company announced Wednesday.
Mr. Carter will oversee Nationwide's retirement plans, life insurance, annuities and mutual funds business. He also will oversee individual, business and corporate-owned life insurance businesses, a news release said.
Mr. Carter succeeds Kirt Walker, who will become Nationwide's next CEO in October, succeeding retiring CEO Stephen Rasmussen.
Mr. Carter joined Nationwide in 2005 as president of the financial sales and distribution unit, which covers sales of private-sector retirement plans, life insurance, annuities and mutual funds, the news release said. In 2013, Mr. Carter was named president of Nationwide's retirement plans business.
"We anticipate naming a successor in the coming weeks," spokesman Joe Case wrote in an email. "We have strong leadership and tremendous depth of talent across all areas of our businesses at Nationwide."