Articles from Exelon

Exelon Corp. (Nasdaq: EXC) has announced the promotion of Cynthia McCabe to senior vice president, chief of staff and chief communications officer, effective Nov.1, 2024.

In a unified effort to support communities impacted by Hurricane Milton, Exelon has deployed more than 600 field and support personnel to aid in power restoration after the storm’s landfall. Recognizing the urgency and potential devastation of the storm, Exelon’s utility companies swiftly mobilized resources to ensure local Florida utility companies have the support needed to address power outages safely and promptly. This follows Exelon’s recent dispatch of hundreds of crews to assist in the aftermath of Hurricane Helene.

Exelon Corp. (Nasdaq: EXC) has named government and external affairs veteran, Marie Sylla Dixon, as the company’s senior vice president of Federal Affairs.

Exelon Corporation (Nasdaq: EXC), the nation’s largest utility company, has announced the latest companies to receive venture capital investments as part of Exelon’s Climate Change Investment Initiative (2c2i). These companies are leading the way with products, services and technologies that are focused on reversing or mitigating the damage done by climate change, while also working to improve the communities where they operate.

Exelon (Nasdaq: EXC) and The Exelon Foundation kicked off the inaugural Boys to STEM Academy on July 28 to encourage and support young men in grades 10 and 11 looking to explore STEM-related fields. The Boys to STEM Academy offered a free, week-long curriculum including a series of climate-focused STEM challenges, conversations with leaders in STEM, and mentoring sessions with Exelon employees. Sixty participants, fifteen from each Exelon region, were selected for the inaugural Academy. Participating students from Exelon service areas in Illinois (ComEd), Delaware (Delmarva Power), Maryland (BGE and Pepco), New Jersey (Atlantic City Electric) and Pennsylvania (PECO), journeyed to the event, held at the University of Maryland, College Park.

The Board of Directors of Exelon Corporation declared a regular quarterly dividend of $0.38 per share on Exelon’s common stock. The dividend is payable on September 13, 2024, to Exelon’s shareholders of record as of the close of business on August 12, 2024.

Exelon is saddened to announce the death of Chris Crane, who served as the company’s president and chief executive officer from 2012 until his retirement in Dec. 2022. Crane steered Exelon through several transformational milestones including the successful mergers with Constellation Energy in 2012 and Pepco Holdings in 2016, creating the largest utility business by customer count, and the later creation of a standalone transmission and delivery company with the spinoff of the generation and retail energy business as Constellation Energy in 2022. Crane died on April 13 in Chicago.

Exelon (Nasdaq, EXC) announced today the retirement of Doug Brown, senior vice president and chief investment officer. Upon Brown’s retirement on July 1, 2024, Jessica Hart, currently Exelon’s vice president of Investment Strategy and Public Markets, will be promoted to senior vice president and chief investment officer. Hart will lead the team responsible for managing all of Exelon’s investment activities including pension funds, defined contribution plans and other employee benefit trusts.

Exelon (Nasdaq, EXC) announced today that Mike Innocenzo, currently president and chief executive officer of Exelon subsidiary PECO, has been promoted to executive vice president and chief operating officer of Exelon, reporting to Exelon President and Chief Executive Officer Calvin Butler. Innocenzo will oversee all utility operations and the CEOs of BGE, ComEd, PECO and PHI will report to him. He will also be responsible for the Cyber & Information Security Services, Corporate Physical Security, IT, Safety, Supply, Training and Transmission Strategy & Compliance organizations. Dave Velazquez, currently Exelon executive vice president of Utility Operations and Technology, will succeed Innocenzo as president and chief executive officer of PECO, Pennsylvania’s largest electric and natural gas delivery company serving nearly 1.7 million electric customers and more than 548,000 natural gas customers in southeastern Pennsylvania.

Exelon (Nasdaq: EXC) today announced that its Board of Directors has elected Bryan Segedi as a director. Segedi, 64, held a distinguished career at Ernst & Young LLP (EY), most recently serving as deputy global vice chair, Assurance.

Exelon (Nasdaq, EXC), in partnership with CALSTART, EPRI, Clean Energy Works, World Resources Institute (WRI) and Edison Electric Institute (EEI), today released a white paper examining how the electric school bus transition can deliver a wide range of environmental justice, health and other benefits to customers, communities and the electric grid. In fact, replacing all diesel school buses in the United States with electric school buses would avoid approximately nine million metric tons of greenhouse gas emissions per year, the equivalent of removing two million cars from the road. Accelerating deployment represents a significant opportunity for stakeholders, and this report can serve as a guide for public utility commissions, policymakers, and school bus operators to reduce common barriers to adoption and ensure an equitable transition.

In a coordinated effort to provide much-needed support to communities in the path of Hurricane Idalia, Exelon is sending more than 100 contractor personnel to assist with power restoration following the storm’s landfall. Recognizing the urgency and the potential for the devastating impact of Hurricane Idalia, Exelon’s utility companies immediately began mobilizing resources to assist in efforts to ensure local Florida utility companies have what they need to ensure power loss is addressed safely and as quickly as possible.

Exelon (Nasdaq: EXC) today announced that its Board of Directors has elected Anna Richo as a director. Richo, 62, serves as general counsel, chief compliance officer, and corporate secretary for Cargill, Inc.

Exelon (Nasdaq: EXC) today announced that it has named renowned energy policy leader Colette D. Honorable as the company’s executive vice president of Public Policy and Chief External Affairs Officer. Honorable will helm the company’s efforts to engage external stakeholders as it works to lead the energy transformation, with areas of oversight including federal and regulatory affairs, strategy and sustainability, customer engagement, marketing, communications, and corporate giving. Honorable assumes this role on Sept. 5, reporting to President and Chief Executive Officer Calvin Butler and joining Exelon’s Executive Committee. She will be based at the company’s District of Columbia offices.

Startups whose products, services or technologies are focused on fighting climate change and improving the quality of life for residents of the Baltimore region and beyond, are encouraged to apply for an equity investment from 2c2i, a joint effort of the Exelon Foundation and Exelon Corporation (Nasdaq: EXC).

Startups whose products, services or technologies are focused on fighting climate change, and improving the quality of life for residents of the Philadelphia region and beyond, are encouraged to apply for an equity investment from 2c2i (Climate Change Investment Initiative), a joint effort of the Exelon Foundation and Exelon Corporation (Nasdaq: EXC).

Startups whose products, services or technologies are focused on fighting climate change, and improving the quality of life for residents of Chicago and beyond, are encouraged to apply for an equity investment from 2c2i, a joint effort of the Exelon Foundation and Exelon Corporation (Nasdaq: EXC).

Whether it’s helping people whose homes have been destroyed, children who need food or underserved areas that could benefit from new biking and walking trails, Exelon (Nasdaq: EXC) employees are dedicated to making a positive difference in their communities. In 2022 alone, volunteers gave 126,529 hours of their time to local nonprofits.

Exelon (Nasdaq: EXC) today marked a milestone in the company’s efforts leading the energy transformation, finalizing its applications to bring federal funds through the bipartisan Infrastructure Investment and Jobs Act (IIJA) to the communities the company serves. The opportunities put forth through the Department of Energy’s (DOE) Smart Grid and Grid Resilience Grants will significantly improve grid resilience and readiness for clean energy infrastructure.

As just one part of its commitment to ensure the clean energy future is accessible to all communities, Exelon (Nasdaq: EXC) today announced that it spent more than $2.88 billion with diverse suppliers in 2022, representing 39 percent of total enterprise-wide spend. Over the past five years, Exelon’s spending with businesses owned by women, people of color, veterans and LGBT persons totaled more than $13 billion.

Five project teams led by Exelon (Nasdaq: EXC) engineers and innovators have been selected to receive Electric Power Research Institute’s (EPRI) 2022 Technology Transfer Awards, which recognize leaders and innovators who have applied EPRI research to help transform the future of energy and create a cleaner and brighter future for customers and communities.

Exelon (Nasdaq: EXC), the nation’s largest energy delivery company, has been named to Fortune magazine’s list of the World’s Most Admired Companies for the 15th consecutive year. Fortune ranks companies on criteria from investment value and quality of management and products to social responsibility and the ability to attract talent.

Exelon (Nasdaq: EXC) and its energy delivery companies—Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), ComEd, Delmarva Power, PECO and Pepco—joined other advocates in Washington, D.C., yesterday to support LIHEAP Action Day. The annual event engages and educates policymakers about the need to fund the Low-Income Home Energy Assistance Program (LIHEAP) at the highest level possible in order the meet the needs of low-income households and the most vulnerable, including seniors, those with disabilities and children. The event was organized by the National Energy & Utility Affordability Coalition (NEUAC).

Exelon (NASDAQEXC) today announced its Board will nominate two new Board candidates, Charisse R. Lillie and Matthew C. Rogers, to shareholders at the upcoming April 25, 2023, Annual Shareholders Meeting. Directors Paul Joskow, Ann Berzin and Carlos Gutierrez will be leaving the Board at the end of their terms and will not stand for re-election.

Exelon (Nasdaq: EXC) announces that Jane S. Park has been named to the role of senior vice president of Federal Governmental and Regulatory Affairs, and Public Policy for the company.

Exelon (EXC) was named to the Dow Jones Sustainability North America Index (DJSI) for the 17th consecutive year, once again earning recognition for its carbon reduction efforts, investments in technological innovation and local corporate philanthropy. The global survey evaluated over 600 of the largest North American companies on a broad range of sustainability measures. Exelon was one of only seven energy delivery companies named to the North America Index this year.

Calvin Butler has begun in his role as president and chief executive officer of Exelon (Nasdaq: EXC) and has joined Exelon’s Board of Directors after previously serving as the company’s president and chief operating officer. Exelon, the nation’s largest energy transmission and delivery company by customer count, is headquartered in Chicago, and serves more than 10 million customers in Illinois, Pennsylvania, New Jersey, Delaware, Maryland and the District of Columbia.

For the second consecutive year, Exelon (Nasdaq: EXC) was selected by the Center for Energy Workforce Development (CEWD) to receive its highest honor, the Chairman’s Award, which recognizes a company for excellence in workforce development leadership. Exelon was selected for its notable leadership in promoting careers in energy; achievements toward establishing diversity, equity and inclusion goals; innovation in approaches to training and upskilling; and enhancements to office culture and operations to attract and retain a skilled diverse workforce.

Exelon (Nasdaq: EXC), the nation’s largest energy delivery company, and the Exelon Foundation announced they will award a total of $868,000 in Green Lab Grants to 27 education-focused organizations. The grants will go toward investments in hands-on educational spaces where high school students can prepare for careers in STEM (science, technology, math and engineering).

Exelon (Nasdaq: EXC) energy delivery companies ComEd and PECO have been named to Site Selection magazine's 2022 list of Top U.S. Utilities in Economic Development, exemplifying Exelon's companywide commitment to driving investment, new business and job growth in the communities it serves.

Exelon (Nasdaq: EXC) Chief Executive Officer Chris Crane has announced that he will retire from his position as CEO and as a director of the Exelon Board effective Friday, Dec. 30, 2022. The Exelon Board has elected Calvin G. Butler Jr., currently president and chief operating officer (COO), to the role of president and chief executive officer as of Dec. 31, 2022. Butler also will join Exelon’s Board of Directors. The company recently promoted Butler and expanded his responsibilities as a step in the company’s leadership succession plans. Crane accelerated his retirement plans to focus on his health after learning in recent days that he will require treatment for significant spinal and hip issues. He will work with Butler through the end of the year on the transition process.

As part of its ongoing commitment to diversity, equity and inclusion (DEI), Exelon (Nasdaq: EXC) has named 34 companies to its annual DEI Honor Roll. The Honor Roll recognizes partners in banking, insurance, legal, professional services, investments and IT services for their efforts to include women and people of color in key roles on account teams working with Exelon.

Exelon (Nasdaq: EXC) announced today that it has promoted Calvin G. Butler Jr. to president and chief operating officer and Jeanne Jones to executive vice president and chief financial officer. Chris Crane, previously president and CEO, continues as Exelon’s chief executive officer, leading the company’s 18,000 employees who serve more than 10 million customers in five states and the District of Columbia at six energy delivery companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco.

Exelon (Nasdaq: EXC) has signed the White House Talent Pipeline Challenge. The challenge is a nationwide call to action for employers, education and training providers, state, local, Tribal, and territorial governments and philanthropic organizations to make tangible commitments that support equitable workforce development in the critical infrastructure sectors of broadband, construction and electrification.

Exelon (Nasdaq: EXC) released the following statement on President Biden’s signing of the Inflation Reduction Act:

Exelon (Nasdaq: EXC) today announced the pricing of an underwritten public offering of 11,300,000 shares of common stock for expected gross proceeds of approximately $500 million before deducting estimated offering expenses. In connection with the offering, the underwriters have been granted a 30-day option to purchase up to an additional 1,695,000 shares of common stock. The offering is expected to close on Aug. 9, 2022, subject to the satisfaction of customary closing conditions. The net proceeds from the offering will be used to permanently repay a portion of the borrowings under a $1.15 billion term loan credit facility.

Exelon (Nasdaq: EXC) today announced that it intends to sell $500 million of its common stock without par value in an underwritten public offering. Exelon also intends to grant the underwriters a 30-day option to purchase up to $75 million additional shares of common stock in the offering. The net proceeds from the offering will be used to permanently repay borrowings under a $1.15 billion term loan credit facility.

Exelon (Nasdaq: EXC) has released its 2021 Corporate Sustainability Report (CSR), a comprehensive overview of the company’s focus on clean, reliable, affordable and equitable energy delivery and energy solutions for its customers and communities. As the nation’s largest energy transmission and distribution company, Exelon continues to steward the clean energy transition and power the economic health and well-being of the large and diverse metropolitan areas that it serves.

The Exelon Foundation and Exelon Corporation (Nasdaq: EXC), a Fortune 200 company and the nation’s premier energy transmission and distribution utility company, have selected nine startups to receive funding as part of its Climate Change Investment Initiative (2c2i), a 10-year, $20 million initiative that focuses on start-ups with bright ideas and clean energy and environmentally sustainable technologies with potential for wide-scale impact.

Nine young women --- graduates of the Exelon STEM Leadership Academy -- received the good news that the Exelon Foundation will be paying for their college education. Last year’s scholarship recipients surprised the new winners, letting them know that the Foundation will pay all costs associated with college, including tuition, room and board and all other expenses that aren’t covered by other confirmed scholarships, federal and state grants, and work-study programs. The total value of the nine scholarships is approximately $1 million.

The Exelon Foundation, in collaboration with Exelon Corporation (Nasdaq: EXC), announced the return this summer of in-person learning for the fifth annual Exelon Foundation STEM Leadership Academy, which was launched in 2018 to encourage young women to pursue careers in Science, Technology, Engineering and Math (STEM). Sessions will take place in Philadelphia (July 10-15), the Washington, D.C./Baltimore area (July 17-22) and Chicago (July 31-Aug. 5). Applications for this year’s STEM Leadership Academy are open until April 11, 2022.

In preparation for separation from Exelon (Nasdaq: EXC), Constellation will hold an investor and analyst event today beginning at 7:30 a.m. Central Time, 8:30 a.m. Eastern Time. Management will discuss how Constellation is uniquely positioned to lead the nation’s response to the climate crisis as the largest carbon-free energy producer and leading supplier of energy products and services to residential and business customers, following its separation from Exelon into an independent, publicly traded, Fortune 200 company. The separation is expected to close on February 1.

Exelon, a Fortune 100 energy company, announced today a commitment to join the Electric Highway Coalition, a partnership among 14 U.S. utilities to create a seamless network of rapid electric vehicle charging stations connecting major highway systems, stretching from the Atlantic Coast through the Midwest, South and into the Gulf and Central Plains regions.

Exelon today announced the release of its 2020 Corporate Sustainability Report (CSR), which highlights Exelon’s efforts to address the climate crisis and build a cleaner, more resilient energy grid, invest in technology and innovation to improve service, and provide support and programs to customers and communities that will create a cleaner, brighter and more equitable future. The report is complemented by the release of Exelon’s second annual Environmental, Social and Governance (ESG) Report.