Summary
This Form 8-K filing from Exelon Corporation, dated January 29, 2013, primarily announces changes to its Board of Directors. Notably, Mr. Don Thompson has informed the board that he will not seek re-election at the upcoming 2013 annual shareholder meeting. This departure creates a vacancy that the board has addressed by increasing its size and appointing Mr. Anthony K. Anderson. The appointment of Mr. Anderson is effective immediately and he will serve until the 2013 annual meeting. The board has not yet determined his committee assignments. Mr. Anderson will receive standard director compensation as outlined in the company's proxy statements. Investors should note that this filing does not contain any material financial updates but signals a shift in board composition.
Key Highlights
- 1Director Don Thompson will not stand for re-election at the 2013 annual shareholder meeting.
- 2The Exelon Board of Directors has increased its size from 16 to 17 members.
- 3Mr. Anthony K. Anderson has been elected as a new director to fill the vacancy.
- 4Mr. Anderson's term as director will extend until the 2013 annual shareholder meeting.
- 5The board has not yet assigned Mr. Anderson to any specific committees.
- 6Mr. Anderson will be compensated according to Exelon's standard director compensation practices.
- 7The filing includes forward-looking statements subject to various risks and uncertainties as detailed in previous SEC filings.