Articles
News
Exelon Announces Several Senior Executive Appointments
CHICAGO-(Business Wire)-January 29, 2008 - Exelon today announced a number of key appointments and promotions within its senior team, including Ian P. McLean, 58, to lead Exelon's finance and markets organization following the departure of former Exelon Executive Vice President and CFO John Young earlier this month. McLean is currently president of Exelon's Power Team, which he will continue to oversee. Matthew F. Hilzinger, 44, currently senior vice president and corporate controller, is appointed senior vice president and chief financial officer of Exelon. He will report directly to McLean.
Other senior executive appointments are:
— Ruth Ann M. Gillis, 53, appointed executive vice president of Exelon, from senior vice president, and continuing as president of the Business Services Company.
— William A. VonHoene Jr., 54, appointed executive vice president of Exelon, from senior vice president, and continuing as general counsel. VonHoene will also oversee the company's internal audit and controls function, previously under the finance and markets organization.
— Andrea L. Zopp, 51, appointed executive vice president, from senior vice president, and continuing as chief human resources officer.
The appointments were approved by Exelon's board of directors today and take effect immediately.
"The departure of John Young (to become CEO of Energy Futures Holdings) created an opportunity for our deep pool of talented and experienced leaders to assume greater responsibilities in driving Exelon forward," said John W. Rowe, chairman, president, and CEO of Exelon. "Their contributions to our success will only increase with these new levels of responsibility."
McLean has served as president of Exelon Power Team since 1999 and has overseen one of the nation's largest electric generating portfolios. Since joining the company in 1999, the Power Team portfolio has grown from 10,000 MW to 32,000 MW (220 percent increase) while revenues (net of fuel) have increased from $1.1 billion to $6.2 billion (460 percent increase) for the same period. During his tenure, Power Team has also been on the cutting edge of development of systems that provide for seamless load management, scheduling, dispatch, communication and reconciliation.
"Ian has done an outstanding job leading Exelon Power Team and has become a recognized authority on wholesale energy marketing at a national level," said Rowe. "That experience, combined with his strong finance background, makes him a natural to lead Exelon's finance and markets organization."
Said McLean: "Exelon is an extraordinary business and I am grateful to John and the board for the confidence they've shown me. I look forward to making strong contributions to what is our collective ambition: to make Exelon the best electric and gas company in the country by providing outstanding and sustainable value to our customers and shareholders."
In addition to Hilzinger, other senior executives reporting to McLean include, Kenneth W. Cornew, 42, now promoted to senior vice president, Exelon and president of Power Team; and Mac A. McFarland, 38, now promoted to senior vice president of Corporate Development.
Exelon Corporation is one of the nation's largest electric utilities with approximately $19 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and natural gas to approximately 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.
