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* This is very sudden…
Exelon Corporation (Nasdaq: EXC) today announced that it has appointed Calvin G. Butler Jr., CEO of Baltimore Gas and Electric Company (“BGE”), as Interim CEO of Exelon Utilities, effective immediately.
This appointment follows the retirement of Anne Pramaggiore, Senior Executive Vice President and CEO of Exelon Utilities, which is also effective immediately. Mr. Butler will continue to serve as CEO of BGE. The CEOs of Exelon’s other utilities – Joseph Dominguez, CEO of ComEd, Michael A. Innocenzo, CEO of PECO, and David M. Velazquez, CEO of Pepco Holdings – will report to Mr. Butler.
In addition, Exelon Utility CEO staff heads Val Jensen, Carim Khouzami and Mike Kormos will also report to Mr. Butler moving forward.
Pramaggiore is a former ComEd CEO who was promoted just last year to the $5.9 million job. She had been with ComEd since 1998, and was promoted to COO of the company in 2009.
Exelon, of course, has twice admitted to being subpoenaed by the feds and the company recently brought in some outsiders to oversee “cooperation and compliance with the subpoena.”
posted by Rich Miller
Tuesday, Oct 15, 19 @ 3:45 pm
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Hmmm… fallout from the fed investigation?
Comment by Nobody Sent Tuesday, Oct 15, 19 @ 3:50 pm
Good. Maybe next time don’t ask for two bailouts in a matter of 3 years…..
Comment by Gohawks123 Tuesday, Oct 15, 19 @ 3:52 pm
I guarantee she did not “retire immediately” because she asked for too many bailouts. That’s how you get promoted at Exelon, not fired.
Comment by Chicago Cynic Tuesday, Oct 15, 19 @ 3:55 pm
===That’s how you get promoted at Exelon, not fired. ===
Yep.
Comment by Rich Miller Tuesday, Oct 15, 19 @ 3:59 pm
So, does Exelon Official A stand for “Anne”?
Comment by Working night and day... Tuesday, Oct 15, 19 @ 4:28 pm
Not a great ending to a pretty distinguished career.
What the heck happened here?
Comment by SSL Tuesday, Oct 15, 19 @ 4:54 pm
What did that new legislative strategy entail?
https://www.chicagobusiness.com/article/20110604/ISSUE01/306049979/comed-flips-madigan-s-switch
Comment by anon Tuesday, Oct 15, 19 @ 5:03 pm
I’m available.
Comment by Shane Marek Tuesday, Oct 15, 19 @ 5:40 pm
The corporation is saving itself ….and the CEO is gone. This must be big.
Comment by Not a Billionaire Tuesday, Oct 15, 19 @ 6:00 pm
“I can smell the meat a-cookin’.”
Comment by Paul Powell's Shoebox Tuesday, Oct 15, 19 @ 6:18 pm
Does this mean the Tom Cullerton(D)villa park Deb Conroy(D)villa park November 7 2019 awards ceremony at the union league club ..SPONSERD by ComEd is cancelled I hope not. This is about to get good.
Comment by l daniels Tuesday, Oct 15, 19 @ 6:30 pm
I’ve always believed that if Madigan goes down it will be because someone in the private sector doesn’t have anything to lose by singing to the Feds. Ms. Pramaggiore might now be that person if she is given immunity.
Comment by Just Me 2 Tuesday, Oct 15, 19 @ 9:58 pm
Trib story this morning says a source says she is a focus of the probe, so one of the letters is likely her.
Comment by Ron Burgundy Wednesday, Oct 16, 19 @ 8:26 am