The company said Michael Innocenzo, currently president and CEO of PECO, will become Exelon's executive vice president and chief operating officer effective April 1, 2024. It said the CEOs of BGE, ComEd, PECO and PHI will report to him.

1. 01

   The company said Michael Innocenzo, currently president and CEO of PECO, will become Exelon's executive vice president and chief operating officer effective April 1, 2024. It said the CEOs of BGE, ComEd, PECO and PHI will report to him.

2. 02

   Exelon said Innocenzo's compensation will include a base salary of $685,000, an annual incentive target of 90% of his base salary, and a long-term incentive target award valued at $1,765,000. The company said long-term incentives consist of performance share awards at 67% and restricted stock units at 33%.

3. 03

   The company said David Velazquez will step down as Executive Vice President, Utility Operations and Technology, effective April 1, 2024, and will become President and Chief Executive Officer of PECO. The company also described PECO as serving nearly 1.7 million electric customers and more than 548,000 natural gas customers.

4. 04

   Exelon said Innocenzo will be appointed a director of ComEd effective April 1, 2024, and Calvin G. Butler, Jr. will leave the ComEd board effective March 31. The company also said Amy Best will retire in May and Denise Galambos will succeed her as chief human resources officer.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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