8-K
filed February 6, 2024, 6:59 PM ET
ticker EXC
CIK 0001109357
leadership
confidence high
sentiment neutral
materiality 0.60
Exelon promotes Mike Innocenzo to COO; Dave Velazquez to lead PECO; CHRO succession
EXELON CORP
- Mike Innocenzo becomes Exelon EVP & COO effective April 1, 2024; base salary $685k, LTI target $1.765M.
- Dave Velazquez succeeds Innocenzo as PECO President & CEO (April 1, 2024); PECO serves ~1.7M electric and ~548k gas customers.
- CHRO Amy Best to retire in May 2024 after 32 years; succeeded by Denise Galambos (BGE SVP Customer Ops) as SVP & CHRO.
- Innocenzo assumes chair of BGE, ComEd, PECO and Pepco Holdings boards; Velazquez becomes PECO board vice-chair.
- All changes effective April 1, 2024; Galambos joins Exelon Executive Committee.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Velazquez resigned as Executive Vice President, Utility Operations and Technology of Exelon at EXELON CORP.
- Action
- resigned
- Role
- Executive Vice President, Utility Operations and Technology of Exelon
Exact text from the filing
Effective April 1, 2024, David Velazquez will resign his current role as Executive Vice President, Utility Operations and Technology, of Exelon, and will assume the role of President and Chief Executive Officer of PECO.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Innocenzo was appointed as Director of Commonwealth Edison Company at EXELON CORP.
- Action
- appointed
- Role
- Director of Commonwealth Edison Company
Exact text from the filing
Effective April 1, 2024, Mr. Innocenzo will be appointed as a director of Commonwealth Edison Company (“ComEd”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Velazquez was appointed as President and Chief Executive Officer of PECO at EXELON CORP.
- Action
- assumed
- Role
- President and Chief Executive Officer of PECO
Exact text from the filing
Effective April 1, 2024, David Velazquez will resign his current role as Executive Vice President, Utility Operations and Technology, of Exelon, and will assume the role of President and Chief Executive Officer of PECO.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Calvin G. Butler, Jr. resigned as Director of Commonwealth Edison Company at EXELON CORP.
- Action
- resigned
- Role
- Director of Commonwealth Edison Company
Exact text from the filing
Effective March 31, 2024, Calvin G. Butler, Jr., President and Chief Executive Officer of Exelon, will resign his position as a director of ComEd.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Innocenzo changed role as Executive Vice President and Chief Operating Officer of Exelon at EXELON CORP.
- Action
- assumed the role of
- Role
- Executive Vice President and Chief Operating Officer of Exelon
Exact text from the filing
Michael Innocenzo, currently President and Chief Executive Officer of PECO Energy Company (“PECO”), will assume the role of Executive Vice President and Chief Operating Officer of Exelon effective April 1, 2024.
View on SEC.gov
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