Press release
PECO Announces the Retirement of President and CEO David Velazquez
David Vahos Named President and CEO PHILADELPHIA--(BUSINESS WIRE)-- PECO, an Exelon company (Nasdaq: EXC), today announced the retirement of President and
About this update from Exelon Corporation
[{"type":"text","content":"\nDavid Vahos Named President and CEO\n\n PHILADELPHIA--(BUSINESS WIRE)--\nPECO, an Exelon company (Nasdaq: EXC), today announced the retirement of President and CEO David Velazquez. Velazquez, an Exelon veteran, retires after more than 40 years of service across the energy industry. Velazquez, who grew up in Pennsylvania, was named PECO’s president and CEO in February 2024, becoming quickly entrenched in the service area, building strong relationships with local businesses and community organizations and furthering PECO’s commitment to its customers. Velazquez will retire on July 1.\n\nSeasoned Exelon leader David Vahos has been appointed the new President and CEO of PECO, effective June 1. He will also join Exelon’s Executive Committee. Vahos, a graduate of Villanova University, brings more than 30 years of financial and operational leadership experience to his new role. He most recently served as senior vice president, chief financial officer and treasurer of Exelon subsidiary Pepco Holdings, leading financial operations and regulatory strategy and supporting major operational initiatives for the company’s three utilities including nearby Atlantic City Electric and Delmarva Power, as well as Pepco which provides service to the District of Columbia and Maryland suburbs. Vahos previously held the chief financial officer and treasurer role at sister company Baltimore Gas and Electric (BGE).\n\n\"David Velazquez has been an extraordinary leader for over four decades, he is also a dear friend. His dedication and vision have been instrumental in shaping the broader energy landscape, bringing a focus on operational excellence and innovation, as well as the importance of being connected to the communities we serve,\" said Mike Innocenzo, Exelon’s executive vice president and chief operating officer. \"As we wish him well in his next chapter, we are thrilled to welcome David Vahos as the new president and CEO of PECO. David's technical expertise, strategic vision and inclusive leadership will ensure PECO will continue to innovate, thrive and be a pillar of the greater Philadelphia community.\"\n\n“I am deeply honored to succeed David Velazquez, who has made a lasting impact not only at PECO but across the entire Exelon family of companies. I look forward to returning to the Philadelphia area, where I spent some formative years, and wo...