Quantcast

Exelon announces personnel moves in Constellation acquisition

NEW YORK — Exelon Corp. on Friday announced a series of personnel moves that will follow its acquisition of Constellation Energy Group Inc.

The Chicago-based utility holding company announced in April that it planned to buy Constellation Energy, based in Baltimore, for $7.9 billion. The acquisition is expected to be completed early next year.

Exelon said Jonathan Thayer will become executive vice president and CFO of the combined company.

In addition, it said Denis O’Brien, who is currently Exelon’s executive vice president and president and CEO of PECO, will become senior executive vice president of Exelon Corp. and CEO of Exelon Utilities.

Three senior utility executives — Craig Adams at PECO, Ken DeFontes at Baltimore Gas & Electric, and Anne Pramaggiore at ComEd — will report to O’Brien.

Exelon said Frank M. Clark, currently chairman and CEO of ComEd, plans to retire upon closing of the deal.

Among other moves are:

—William Von Hoene, Jr. will become senior executive vice president and chief strategy officer for the combined company.

—Ruth Ann Gillis will remain executive vice president of Exelon Corp., president of the Exelon Business Services Company and chief administrative and diversity officer for the combined company.

—Matthew Hilzinger will become executive vice president and chief integration officer for Exelon Corp.

Exelon shares fell 55 cents, or 1.2 percent, to $42.39 in morning trading Friday.

Leave a Reply

Your email address will not be published. Required fields are marked *

*