Exelon today announced that Kenneth W. Cornew, formerly executive vice
president and chief commercial officer, Exelon, and president and CEO of
Exelon business unit Constellation, has been named senior executive vice
president and chief commercial officer, Exelon, and president and CEO of
Exelon Generation.
In his new role, Cornew assumes leadership of the nation’s leading fleet
of competitive power plants, with approximately 35,000 megawatts located
primarily in the Midwest, Mid-Atlantic and Texas. His portfolio includes
the nation’s largest nuclear fleet and a growing renewable energy
development business. He will be based at the Exelon Generation
headquarters in Kennett Square, Pa.
Joseph Nigro, formerly senior vice president, portfolio management and
strategy, Constellation, has been named executive vice president,
Exelon, and CEO, Constellation. Nigro will report to Cornew and assume
responsibility for the wholesale and retail marketing of electricity,
natural gas and other energy-related products and services to
Constellation customers in 45 states, the District of Columbia and parts
of Canada. He will remain based in Baltimore, Md.
These changes are effective immediately.
“One of the key benefits of the Exelon-Constellation merger is our
ability to increase the value of our generation assets by matching load
with generation and optimizing portfolio management. These leadership
changes are designed to help us achieve these critical objectives,” said
Christopher M. Crane, Exelon’s president and CEO. “Ken and Joe have been
key members of our leadership team for many years and share a deep
understanding of energy markets. I have every confidence in their
ability to provide solid leadership to these critical businesses of
Exelon.”
A 26-year veteran of the electric utility industry, Cornew became
president and CEO of Constellation following its merger with Exelon in
March 2012. Prior to that role, he served as senior vice president of
Exelon and president of Exelon Power Team beginning in 2008. In that
position, he oversaw the power marketing and trading function of
Exelon’s diversified generation portfolio. He also oversaw the company’s
growing retail business, Exelon Energy, which served electric and gas
retail customers in Illinois, Ohio, Pennsylvania and Michigan.
Nigro is a nearly 25-year veteran of the industry and has held a number
of roles of increasing responsibility for Exelon’s trading and marketing
organization since joining the company in 1996. In his most recent role,
he was responsible for leading all aspects of Constellation’s portfolio
management and strategy. Prior to his role at Constellation, Nigro was
senior vice president, portfolio management and strategy for Exelon
Power Team.
Exelon Corporation is the nation’s leading competitive energy
provider, with 2012 revenues of approximately $23.5 billion.
Headquartered in Chicago, Exelon has operations and business activities
in 47 states, the District of Columbia and Canada. Exelon is one of the
largest competitive U.S. power generators, with approximately 35,000
megawatts of owned capacity comprising one of the nation’s cleanest and
lowest-cost power generation fleets. The company’s Constellation
business unit provides energy products and services to approximately
100,000 business and public sector customers and approximately 1 million
residential customers. Exelon’s utilities deliver electricity and
natural gas to more than 6.6 million customers in central Maryland
(BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).
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