Exelon announces leadership changes prior to merger

Exelon (NYSE: EXC) announced the senior executives who will report to President and CEO Christopher M. Crane following completion of the Exelon-Constellation merger, anticipated in early 2012.

Denis P. O’Brien, currently executive vice president of Exelon and president and CEO of PECO, will become senior executive vice president of Exelon Corp. and CEO of Exelon Utilities, with responsibility for sharing best practices and providing oversight to the combined company’s utility businesses.

William A. Von Hoene, Jr., currently executive vice president, Finance & Legal, will become senior executive vice president and chief strategy officer for the combined company, with responsibility for corporate development, corporate strategy, legal, regulatory, government affairs, investments and communications.

Ruth Ann M. Gillis will remain executive vice president, Exelon Corp., president of the Exelon Business Services Co. and chief administrative and diversity officer for the combined company. Gillis will continue to lead the combined company’s commercial operations, human resources, information technology and supply practice areas.

Matthew F. Hilzinger, currently senior vice president and CFO for Exelon, will become executive vice president and chief integration officer for Exelon Corp. Hilzinger will be the lead executive for all integration activities following the closing of the Exelon-Constellation merger.

Jonathan W. “Jack” Thayer, currently chief financial officer for Constellation Energy (NYSE: CEG), will become executive vice president and CFO of the combined company, with responsibility for Exelon’s accounting, risk, financial planning & analysis, tax, treasury, investor relations and audit functions.

Crane will retain his title as president of Exelon Generation. Reporting to him in that organization will be the following:

Kenneth W. Cornew, currently senior vice president of Exelon and president of Exelon Power Team, will become executive vice president and chief commercial officer of Exelon and president and CEO of Constellation upon the closing of the Exelon-Constellation merger, leading the competitive retail and commodities businesses. Kathleen W. Hyle, senior vice president of Constellation Energy, will continue to oversee the company’s commercial businesses through the closing of the merger and will work closely with Cornew on integration activities. Hyle is in discussions about a potential senior role within Exelon following the transaction.

Charles R. “Chip” Pardee, currently COO of Exelon Generation, will retain that title, leading the operations of the Exelon Nuclear and Exelon Power business units. Following the merger, Constellation’s non-nuclear generating units will become part of Exelon Power.

Additional members of his Executive Committee and other senior leadership positions are expected to be identified by the end of 2011.

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