Summary
This 8-K filing announces a significant leadership transition at Consolidated Edison Inc. (ED). Effective January 1, 2021, Timothy Cawley will assume the roles of President and Chief Executive Officer of Con Edison and CEO of Con Edison of New York, succeeding John McAvoy. Mr. McAvoy will retire from these executive positions but will continue to serve as Chairman of the Board of Directors for both Con Edison and Con Edison of New York, ensuring continuity in strategic oversight. Additionally, Matthew Ketschke has been appointed President of Con Edison of New York, also effective January 1, 2021. Mr. Cawley brings a wealth of experience from his long tenure within the company, including his current role as president of Con Edison of New York. Mr. Ketschke also has extensive experience within the organization, most recently as Senior Vice President of Customer Energy Solutions. Investors should note that details on any new compensatory arrangements for Mr. Cawley are pending and will be disclosed in future filings.
Key Highlights
- 1Timothy Cawley to become President and CEO of Consolidated Edison Inc. and CEO of Con Edison of New York, effective January 1, 2021.
- 2Current CEO John McAvoy to retire from executive roles but will remain Chairman of the Board for Con Edison and Con Edison of New York.
- 3Matthew Ketschke appointed President of Con Edison of New York, effective January 1, 2021.
- 4Timothy Cawley has a long history with the company, joining in 1987 and holding various leadership positions.
- 5Matthew Ketschke also has significant experience, having joined in 1995 and most recently serving as Senior Vice President of Customer Energy Solutions.
- 6No new compensatory arrangements for Mr. Cawley have been disclosed as of this filing; details will follow.
- 7The announcement was made via a press release filed as an exhibit to this 8-K.