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Exelon Names New CEO at Constellation

May 29, 2013

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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

Exelon named a new CEO at Constellation as outgoing Constellation CEO Kenneth Cornew was named to new positions at Exelon.

Joseph Nigro, formerly senior vice president, portfolio management and strategy, for 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.

Nigro is a 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.

Cornew, formerly executive vice president and chief commercial officer, Exelon, and president and CEO of 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 approximately 35,000 megawatts of competitive generation located primarily in the Midwest, Mid-Atlantic, and Texas.

Cornew had become 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 retail business, Exelon Energy, which served electric and gas retail customers in Illinois, Ohio, Pennsylvania and Michigan.

"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 Crane, Exelon's president and CEO

The changes are effective immediately.

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