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EXELON CORP 8-K Report, Executive Changes (Aug 25, 2026)

Reports
Leadership Changes·Regulation FD·Exhibits & Filings
Filing Date
Filed August 25, 2026
Period End
August 25, 2026
Security
EXC
In the record · 2016–202610-K1110-Q328-K189

EXC filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 189 current reports (8-K) between 2016 and 2026.

  1. Restructuring8-K · May ’17May ’17
  2. Leadership change8-K · Jan ’19Jan ’19
  3. Impairment8-K · Apr ’21Apr ’21
  4. Material agreement8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed August 25, 2026. Cited figures are marked; the original filing is the authoritative source.

Exelon (EXC) announced a series of executive leadership changes on August 25, 2026, centered on its finance and operations teams.

Michael Innocenzo, EVP and Chief Operating Officer of Exelon and President and CEO of PECO (and ComEd board chair), will depart in 2027 on a date yet to be determined, after nearly 40 years with the company. He will remain in his roles and assist with an orderly transition until then. The most material change for investors is in the finance function: CFO Jeanne Jones moves to Executive Vice President of Finance and Strategy, taking on an expanded role over corporate strategy, while Robert Kleczynski, currently SVP, Controller and Tax, becomes EVP and Chief Financial Officer and principal financial officer.

Both changes take effect October 5, 2026. Caroline Fulginiti becomes Vice President and Controller and principal accounting officer on the same date. Further down the finance bench, ComEd CFO Joshua Levin will become Senior Vice President of Finance at Exelon effective January 1, 2027, overseeing investor relations, insurance, and long-term financial planning consolidation.

Andrew Plenge, currently ComEd's VP of Strategy and Energy Policy and formerly Exelon's VP of Investor Relations, will succeed Levin as ComEd CFO on the same date. The filing also reaffirmed 2026 Adjusted operating EPS guidance of $2.81a-$2.91 and expects cumulative annualized Adjusted operating earnings growth from 2025 to 2029 near the top of the 5-7% range, which signals management confidence despite the leadership transition. From a compensation standpoint, the new CFO's package includes a $650,000 base salary, a 90% annual incentive target, and a $1,765,000 long-term incentive target granted in 2027.

The filing did not describe any compensation changes beyond those roles. Overall, the announcements appear to be planned internal succession that keeps financial continuity within the company, though the undefined timing of Innocenzo's departure and the reshuffling of several finance roles are points investors may want to monitor.

02—Key points

Key Highlights

  1. Robert Kleczynski, currently SVP, Controller and Tax, becomes EVP and Chief Financial Officer effective October 5, 2026, succeeding Jeanne Jones, who moves to EVP of Finance and Strategy with an expanded strategy remit.
  2. COO Michael Innocenzo, who also serves as PECO President and CEO and ComEd board chair, will depart in 2027 on a date to be determined, after nearly 40 years with the company.
  3. Joshua Levin leaves the ComEd CFO role to become Exelon SVP of Finance effective January 1, 2027, overseeing investor relations, insurance, and long-term financial planning; Andrew Plenge succeeds him as ComEd CFO.
  4. Caroline Fulginiti becomes VP and Controller and principal accounting officer effective October 5, 2026.
  5. Kleczynski's new compensation includes a $650,000 base salary, 90% annual incentive target, and a $1,765,000 LTI target award (67% performance shares, 33% RSUs) to be granted in 2027.
  6. Exelon reaffirmed 2026 Adjusted operating EPS guidance of $2.81-$2.91 and expects 2025-2029 cumulative annualized Adjusted operating earnings growth near the top of its 5-7% range.

03—Questions

Frequently Asked Questions

  1. Why is Exelon changing its CFO and who is taking over?

    The filing does not state a specific reason beyond framing the moves as part of the company's commitment to long-term value. Robert Kleczynski, who has overseen accounting, financial reporting, and tax as Exelon's SVP, Controller and Head of Tax, becomes CFO effective October 5, 2026. Jeanne Jones, the current CFO, moves to Executive Vice President of Finance and Strategy and continues to oversee financial activities alongside strategy.

  2. Does the leadership change affect Exelon's earnings outlook?

    The filing reaffirmed the 2026 Adjusted operating EPS guidance of $2.81-$2.91 and the expectation for cumulative annualized Adjusted operating earnings growth from 2025 to 2029 near the top of the 5-7% range. This suggests management does not expect the transition to change its near-term financial targets.

  3. When will Michael Innocenzo leave, and who will replace him?

    Innocenzo will depart in 2027 on a date yet to be determined and will remain in his roles until then to assist with an orderly transition. The filing does not name a successor for his COO role or for his positions as PECO President and CEO and ComEd board chair.

  4. What are the compensation terms for the new CFO?

    Kleczynski's compensation will include a $650,000 base salary, an annual incentive target of 90% of base salary, and a long-term incentive target award valued at $1,765,000 granted in 2027. The LTI is 67% performance shares and 33% RSUs, with payouts tied to pre-established performance targets. The filing notes no new compensatory arrangements for Jones in her new role.

  5. Who will lead ComEd's finances after Joshua Levin departs?

    Andrew Plenge, currently ComEd's Vice President of Strategy and Energy Policy and formerly Exelon's VP of Investor Relations, will become ComEd's Senior Vice President, Chief Financial Officer and Treasurer effective January 1, 2027. His package includes a $375,000 base salary, a 50% annual incentive target, and a $372,000 LTI target award.

04—Continue

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