Exelon names leadership for split into two companies
CHICAGO -- ComEd parent company Exelon Corp. Friday announced more details on its planned separation into two companies.
Christopher Crane, Exelon president and CEO, will continue as CEO of the regulated utility business, which will include ComEd and be called Exelon. Exelon will own and maintain the transmission and distribution utility business.
Joseph Dominguez, currently CEO of ComEd, has been named CEO of Exelon Generation and incoming CEO of the competitive energy business, which will be called Constellation.
Calvin Butler, currently CEO of Exelon Utilities, will assume the role of interim CEO of ComEd, in addition to his current duties.
The separation remains on track to close in the first quarter of 2022, pending completion of the remaining regulatory approvals, the utility company said.
"As an independent company, Exelon will lead the way toward a brighter and cleaner energy future for our more than 10 million electric and gas customers, while continuing to invest in critical infrastructure, expand economic opportunity and promote equity in all the communities we serve," Crane said.
Constellation is Exelon's competitive retail and wholesale energy business, providing nuclear, gas, wind, solar and hydroelectric generating capacity in 48 states. It will operate Exelon's current nuclear power plants in Illinois.
"Constellation will be the largest producer of clean energy in the nation by a wide margin, giving our expansive customer-facing platform a competitive edge as consumers and policymakers increasingly demand sustainable energy solutions," Dominguez said.