Summary
Exelon Corporation (EXC) filed an 8-K on June 10, 2020, to announce a temporary change in the role of Senior Executive Vice President, William A. Von Hoene, Jr. Mr. Von Hoene is stepping back from his full duties to address personal health issues, which are unrelated to COVID-19. While his engagement will be limited, he is expected to continue in his current position until at least December 31, 2022, or potentially longer if mutually agreed upon by both parties. This filing aims to inform investors of this temporary adjustment in senior leadership involvement and its implications for succession planning.
Key Highlights
- 1William A. Von Hoene, Jr., Senior Executive Vice President, is temporarily limiting his engagement due to health issues.
- 2The health issues are unrelated to the coronavirus pandemic.
- 3Mr. Von Hoene is expected to continue in his current role until at least December 31, 2022.
- 4His continued service may extend beyond December 31, 2022, if mutually agreed.
- 5A letter agreement was signed on June 4, 2020, formalizing retirement planning for Mr. Von Hoene.
- 6In case of separation before December 31, 2022 (not voluntary resignation or for cause), Mr. Von Hoene will receive benefits under the Senior Management Severance Plan.