Summary
This Form 8-K filing from Exelon Corporation (EXC) on February 1, 2008, primarily details significant changes in executive leadership and corporate governance. Key appointments include Ian P. McLean as Executive Vice President, Finance and Markets, and Matthew F. Hilzinger as Senior Vice President and Chief Financial Officer for both Exelon and Exelon Generation Company, LLC. These changes indicate a strategic realignment and strengthening of the finance and markets oversight within the organization. Furthermore, Commonwealth Edison Company (ComEd), a subsidiary of Exelon, announced an amendment to its bylaws to increase the size of its Board of Directors and appointed Michael H. Moskow to fill a vacancy. These actions suggest a proactive approach to board composition and oversight at the subsidiary level. Investors should note that these leadership and governance adjustments are effective as of late January 2008 and may signal strategic shifts or preparations for future growth and operational strategies.
Key Highlights
- 1Appointment of Ian P. McLean as Executive Vice President, Finance and Markets at Exelon.
- 2Appointment of Matthew F. Hilzinger as Senior Vice President and Chief Financial Officer for both Exelon and Exelon Generation Company, LLC.
- 3Kenneth W. Cornew appointed Senior Vice President at Exelon and President of the Power Team division at Exelon Generation.
- 4Duane M. DesParte to become Corporate Controller for Exelon following the filing of the 2007 Form 10-K.
- 5Michael H. Moskow appointed to the Board of Directors of Commonwealth Edison Company (ComEd).
- 6ComEd amended its bylaws to increase the size of its Board of Directors from a minimum of four to a minimum of six and a maximum of nine to a maximum of eleven directors.