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Former FirstEnergy VP To Join Board Of Constellation Upon Spin-off, Board Members Announced

January 10, 2022

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Copyright 2010-21
Reporting by Paul Ring •

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Exelon Corp. announced Constellation’s Board of Directors following the company’s separation from Exelon.

The transaction, which has received all regulatory approvals and is expected to close on February 1, will create two independent, publicly traded companies: Constellation, a generator and competitive provider of energy products and services; and Exelon, a transmission and distribution-only utility business serving more than 10 million customers. Constellation’s shares will begin trading February 2 under the ticker CEG.

Pending completion of the separation, the following individuals will join Constellation’s new board:

Joseph Dominguez, incoming CEO

Dominguez is the current CEO of Exelon Generation and will become president and CEO of Constellation following the company’s separation from Exelon. Prior to his current role, Dominguez served as CEO of ComEd, an Exelon utility that serves 4 million residential and business customers, or 70 percent of Illinois’ population. Prior to joining ComEd, he served as executive vice president of governmental and regulatory affairs and public policy for Exelon, where he oversaw the development and implementation of federal, state and regional governmental, regulatory and public policy strategies.

Bradley M. Halverson

Halverson served from 2013 to 2018 as group president and CFO of Caterpillar, a Fortune 100 manufacturer of construction and mining equipment, diesel and gas engines, turbines and locomotives. Prior to that, he held a succession of roles of increasing responsibility at Caterpillar, including vice president, Financial Services (2010-2013); corporate controller, Global Finance & Strategic Services (2004-2010); and corporate business development manager, Corporate Services (2002-2004), among others since joining the company in 1988.

Charles L. Harrington

Harrington is the current chairman and former CEO of Parsons Corp., a technology provider in the global defense, intelligence and critical infrastructure markets worldwide. He served as chairman and chief executive officer of the company from 2008 to 2021, following previous roles as executive vice president, chief financial officer and treasurer (2006-2008); president, Commercial Technology Group (2003-2006); and president, Communications Technology Group (1999-2002), among others. He also served on the board of The AES Corporation from 2013 to 2020.

Rhonda S. Ferguson

Ferguson serves as executive vice president, Chief Legal Officer, general counsel and secretary for Fortune 100 company Allstate Corporation. She joined the company as executive vice president and general counsel in 2020 before assuming her current role in 2021. Prior to joining Allstate, Ferguson served as executive vice president, Chief Legal Officer and corporate secretary for Union Pacific Corporation from 2016 through 2020. She held the role of vice president, corporate secretary and Chief Ethics Officer for FirstEnergy Corporation from 2007 through 2016.

Julie Holzrichter

Holzrichter is chief operating officer of CME Group, a derivatives marketplace. Prior to being appointed to her current role in 2014, Holzrichter held a succession of roles of increasing responsibility, including senior managing director of Global Operations from 2012 to 2014; managing director, Global Operations, from 2007 to 2012; and director, Operations, from 2006-2007, among others. She has led the integration of global operations for a number of multi-billion-dollar mergers and acquisitions throughout her tenure. Holzrichter serves on the board of the National Futures Association

Ashish K. Khandpur

Khandpur is president of the $10 billion Transportation & Electronics business group for 3M, a Fortune 100 multinational corporation operating in the fields of transportation, electronics, worker safety, health care, consumer goods and industry. During his 26-year career with 3M, he has held a series of roles with increasing responsibility, including executive vice president, Transportation & Electronics business group, from 2019 to 2021; executive vice president, Electronics & Energy business group, from 2017 to 2019; senior vice president, Research & Development and Chief Technology Officer, from 2014 to 2017, among other roles.

The following Exelon board members will transition to Constellation’s board following separation:

Robert J. Lawless (Chairman)

Lawless served as board chair of spice maker McCormick & Company Inc. from January 1997 until March 2009, having also served as the company’s president until December 2006 and chief executive officer until January 2008. Lawless previously served as a director with Constellation Energy Group from 2002 until 2012, when the company merged with Exelon. Following separation, he will serve as chairman of the new Constellation board.

Laurie Brlas

Brlas most recently served as executive vice president and chief financial officer of Newmont Mining Corporation, a gold and copper producer with U.S. and international operations, until 2016. From 2006 to 2013, she served in a succession of senior leadership positions at iron ore producer Cleveland-Cliffs, Inc., most recently as executive vice president and president, Global Operations.

Yves C. de Balmann

An independent Exelon board member since 2012, de Balmann previously served as co-chairman of Bregal Investments LP, a private equity investing firm, from 2002 to 2012. Prior to that, he was vice-chairman of Bankers Trust Corporation, in charge of Global Investment Banking until its merger with Deutsche Bank in 1999. Following the merger, he became co-head of Deutsche Bank’s Global Investment Bank and co-chief executive officer of Deutsche Banc Alex.Brown from 2001 to 2003.

Admiral John M. Richardson

Admiral Richardson served 37 years in the U.S. Navy, completing his service as the Chief of Naval Operations (CNO). Richardson served as the Director of Naval Reactors from 2012 until 2015, with responsibility for the full lifecycle, including regulatory responsibilities, of more than 90 reactors operating around the world on nuclear-powered warships.

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