Who is replacing Duane M. DesParte as Corporate Controller?

Fabian E. Souza will succeed Duane M. DesParte. Mr. Souza will initially serve as Senior Vice President and Deputy Controller starting in November 2017, and will officially take over as Senior Vice President and Corporate Controller upon Mr. DesParte's retirement in March 2018.

What is Fabian E. Souza's background?

Mr. Souza, age 46, has a strong background in accounting and finance, most recently serving as Vice President, Controller and Chief Accounting Officer of The AES Corporation since June 2015. He held several other controller and audit roles at AES prior to that.

What are the key components of Mr. Souza's compensation package?

Mr. Souza's compensation includes an annual base salary of $450,000, an annual incentive program target of 50% of his base salary, and a long-term incentive target of $653,000. He will also receive a $200,000 sign-on and retention cash advance, which is subject to a three-year clawback provision.

Where can I find more information about Exelon's risks and potential challenges?

Exelon directs investors to their 2016 Annual Report on Form 10-K and their Second Quarter 2017 Quarterly Report on Form 10-Q for detailed information regarding risks and uncertainties that could impact the company's future results. Specific sections like 'Risk Factors' and 'Management's Discussion and Analysis' are recommended for review.

EXC 8-K: Leadership Changes

Summary

This 8-K filing from Exelon Corporation announces a planned leadership transition within its financial reporting team. Duane M. DesParte, Senior Vice President and Corporate Controller (principal accounting officer), will retire effective March 2, 2018. To ensure a smooth handover, Exelon has appointed Fabian E. Souza as Senior Vice President and Deputy Controller, starting in November 2017, who will then assume the primary controller role upon Mr. DesParte's retirement. Investors should note the appointment of Mr. Souza, an executive with extensive experience from The AES Corporation. His compensation package, including base salary, annual and long-term incentives, and a sign-on bonus, is detailed. The company also reiterates its forward-looking statements are subject to risks and uncertainties, directing investors to review their previous SEC filings for a comprehensive understanding of these risks.

Key Highlights

1Duane M. DesParte, Senior Vice President and Corporate Controller (principal accounting officer), will retire on March 2, 2018.
2Fabian E. Souza has been appointed Senior Vice President and Deputy Controller, effective November 2017.
3Mr. Souza will assume the role of Senior Vice President and Corporate Controller and become the principal accounting officer upon Mr. DesParte's retirement.
4Mr. Souza brings prior experience from The AES Corporation, where he held several controller and accounting leadership positions.
5Mr. Souza's compensation includes a base salary of $450,000, annual incentive target of 50% of base, and a long-term incentive target of $653,000.
6A $200,000 sign-on and retention cash advance has been provided to Mr. Souza, subject to a three-year clawback.
7The filing includes standard forward-looking statement disclaimers referencing other SEC filings for detailed risk factors.

EXELON CORP 8-K Report, Executive Changes (Sep 26, 2017)

Summary

Key Highlights

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