Summary
Exelon Corporation (EXC) filed an 8-K on February 14, 2023, primarily announcing changes to its Board of Directors. Notably, Paul Joskow will retire from the Board effective at the 2023 annual meeting of shareholders due to reaching the mandatory retirement age. Additionally, directors Ann Berzin and Carlos Gutierrez will not seek reelection at the upcoming annual meeting. These departures will result in a reduction of the Board's size from nine to eight directors. In connection with these changes, Exelon intends to nominate Charisse R. Lillie and Matthew C. Rogers for election to the Board at the 2023 annual meeting. Both nominees have been determined to be independent under Nasdaq and Exelon's standards. Investors should note that committee assignments for the new directors are yet to be determined and will be disclosed later. This filing does not contain significant financial updates but focuses on corporate governance and board composition.
Key Highlights
- 1Paul Joskow retiring from the Board of Directors at the 2023 annual meeting.
- 2Ann Berzin and Carlos Gutierrez not standing for reelection at the 2023 annual meeting.
- 3Board size to decrease from nine to eight directors following the annual meeting.
- 4Nomination of Charisse R. Lillie and Matthew C. Rogers for election to the Board.
- 5Both nominees, Lillie and Rogers, determined to be independent under Nasdaq and Exelon's standards.
- 6Committee assignments for new directors to be disclosed at a later date.
- 7Filing includes a press release and XBRL data as exhibits.