---
schema_version: "secwatch.filing_event.v1"
accession: "0001109357-24-000042"
form_type: "8-K"
ticker: "EXC"
cik: "0001109357"
company_name: "EXELON CORP"
filed_at: "2024-02-06T23:59:59+00:00"
generated_at: "2026-06-06T07:43:43.134415+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Exelon promotes Mike Innocenzo to COO; Dave Velazquez to lead PECO; CHRO succession

## Summary
- 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.

## SEC filing metadata
- accession: 0001109357-24-000042
- form_type: 8-K
- ticker: EXC
- cik: 0001109357
- company_name: EXELON CORP
- filed_at: 2024-02-06T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22606/000110935724000042/exc-20240206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001109357-24-000042
- JSON: https://secwatch.observer/filing/0001109357-24-000042.json
- Plain text: https://secwatch.observer/filing/0001109357-24-000042.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm
- Executive change
  Michael Innocenzo was appointed as Director of Commonwealth Edison Company at EXELON CORP.
  - Action: appointed
  - Role: Director of Commonwealth Edison Company
  source text: Effective April 1, 2024, Mr. Innocenzo will be appointed as a director of Commonwealth Edison Company (“ComEd”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm
- Executive change
  Calvin G. Butler, Jr. resigned as Director of Commonwealth Edison Company at EXELON CORP.
  - Action: resigned
  - Role: Director of Commonwealth Edison Company
  source text: Effective March 31, 2024, Calvin G. Butler, Jr., President and Chief Executive Officer of Exelon, will resign his position as a director of ComEd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1109357/000110935724000042/0001109357-24-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.