8-KLeadership ChangesCorporate ChangesExhibits & Filings

CONSOLIDATED EDISON INC 8-K Report, Executive Changes (Feb 23, 2006)

Filed February 23, 2006For Securities:ED

Summary

This Form 8-K filing from Consolidated Edison, Inc. (ED) dated February 23, 2006, reports on key leadership changes and governance updates. Effective February 28, 2006, Kevin Burke will assume the role of Chairman of the Board for both Consolidated Edison Inc. and Consolidated Edison Company of New York, Inc., while retaining his positions as President and CEO of Con Edison and CEO of Con Edison of New York. He succeeds Eugene R. McGrath, who will retire from the Chairman role but remain a Director/Trustee. Additionally, the filing announces the election of L. Frederick Sutherland as a new Board member, effective April 1, 2006. Mr. Sutherland's background as Executive Vice President and CFO of ARAMARK Corporation brings valuable financial expertise to the board. The report also details an amendment to the By-Laws of Consolidated Edison Company of New York, Inc. to increase the size of its Board of Trustees from eleven to twelve members.

Key Highlights

  • 1Kevin Burke appointed Chairman of the Board for Consolidated Edison Inc. and Consolidated Edison Company of New York, Inc., effective February 28, 2006.
  • 2Kevin Burke will continue as President and CEO of Con Edison and CEO of Con Edison of New York.
  • 3Eugene R. McGrath to retire as Chairman, effective February 28, 2006, but will remain a Director/Trustee.
  • 4L. Frederick Sutherland elected to the Board of Directors, effective April 1, 2006.
  • 5L. Frederick Sutherland brings financial expertise as Executive Vice President and CFO of ARAMARK Corporation.
  • 6The Board of Trustees for Consolidated Edison Company of New York, Inc. will increase from eleven to twelve members.
  • 7Amendment to Con Edison of New York's By-Laws to reflect the increased number of Trustees.

Frequently Asked Questions

The primary leadership change is Kevin Burke's appointment as Chairman of the Board for both Consolidated Edison Inc. and Consolidated Edison Company of New York, Inc., effective February 28, 2006. He will continue in his current executive officer roles. Eugene R. McGrath is retiring as Chairman but will remain on the boards.

L. Frederick Sutherland has been elected to the Board of Directors effective April 1, 2006. He is currently the Executive Vice President and Chief Financial Officer of ARAMARK Corporation, indicating that the board will benefit from his financial and executive leadership experience.

Yes, the By-Laws of Consolidated Edison Company of New York, Inc. were amended to increase the size of its Board of Trustees from eleven to twelve members, effective February 16, 2006.

The changes related to Kevin Burke's chairmanship and Eugene R. McGrath's retirement are effective February 28, 2006. The increase in the number of Trustees and the amendment to the By-Laws were effective February 16, 2006. L. Frederick Sutherland's election to the board is effective April 1, 2006.