Mike Innocenzo named Exelon Chief Operating
Officer. Dave Velazquez to succeed Innocenzo as President and CEO
of PECO. Denise Galambos to succeed Amy Best as Exelon Chief Human
Resources Officer as Best announces retirement.
Exelon (Nasdaq, EXC) announced today that Mike Innocenzo,
currently president and chief executive officer of Exelon
subsidiary PECO, has been promoted to executive vice president and
chief operating officer of Exelon, reporting to Exelon President
and Chief Executive Officer Calvin Butler. Innocenzo will oversee
all utility operations and the CEOs of BGE, ComEd, PECO and PHI
will report to him. He will also be responsible for the Cyber &
Information Security Services, Corporate Physical Security, IT,
Safety, Supply, Training and Transmission Strategy & Compliance
organizations. Dave Velazquez, currently Exelon executive vice
president of Utility Operations and Technology, will succeed
Innocenzo as president and chief executive officer of PECO,
Pennsylvania’s largest electric and natural gas delivery company
serving nearly 1.7 million electric customers and more than 548,000
natural gas customers in southeastern Pennsylvania.
“As we focus on leading an equitable energy transformation for
our customers and communities, making a positive impact begins with
the talent and experience of our team,” said Butler. “We are
pleased to have Mike Innocenzo, who has spent his career delivering
operational excellence at PECO, bring his expertise to overseeing
operations across Exelon. Mike will build on the top-tier
performance levels our customers have come to expect. Similarly, we
have a high caliber, respected industry leader in Dave Velazquez,
with experience leading utilities, to continue PECO’s advance
toward best-in-class service. Both leaders are a testament to the
depth of experience at Exelon.”
Exelon’s Executive Vice President and Chief Human Resources
Officer (CHRO) Amy Best has announced she will retire in May. Best
has been with the company for 32 years, serving as Exelon’s CHRO
since 2012. During her tenure, Exelon has been widely recognized
for its commitment to DEI, pay equity and family leave policies.
Denise Galambos will succeed Best as senior vice president and
Exelon’s CHRO. Denise currently serves as Baltimore Gas and
Electric’s (BGE) senior vice president of Customer Operations.
“One of Amy’s most notable accomplishments has been designing
and nurturing a diverse and inclusive company culture where
employees feel valued and safe bringing their authentic selves to
work each day,” said Butler. “This has been the foundation of
Exelon’s leading talent attraction and development capabilities. On
behalf of our 19,500 employees, our entire executive leadership
team thanks Amy for her dedicated service to this company and our
people, and we wish her well in her new chapter. We’re also excited
to welcome Denise Galambos to her new role and look forward to her
leadership as we continue to strengthen our culture and power a
cleaner and brighter future for our customers and communities.”
Innocenzo will assume the chairmanship of the boards of
directors at BGE, ComEd, PECO and Pepco Holdings. Velazquez will
assume the vice-chairmanship of the board of directors at PECO.
Galambos will join Exelon’s Executive Committee. Innocenzo,
Velazquez and Galambos will transition to their new roles on April
1, 2024.
More about Mike Innocenzo
Innocenzo joined the company in 1988 and has served in a range
of roles of increasing responsibility in Electric and Gas
Distribution Operations, Energy Management, Smart Grid, Process
Improvement, and Project Management. Before assuming the CEO role
at PECO in 2018, he served as PECO’s chief operating officer.
Innocenzo has served as Board Chair of The Greater Philadelphia
Chamber of Commerce since 2022. He also serves on the boards of the
Philadelphia Police Athletic League (PAL), the Franklin Institute,
the American Gas Association, and the Electric Power Research
Institute. He is a member of the Satell Institute and has advisory
roles with Drexel University and Children's Hospital of
Philadelphia. Innocenzo holds a bachelor's degree in electrical
engineering from Widener University and an MBA from Villanova
University.
More about Dave Velazquez
Velazquez has more than 40 years of utility and energy industry
experience. He joined Exelon in 2016 at the merger of Exelon and
Pepco Holdings, assuming the role of PHI president and CEO. Prior
to the merger, Velazquez was the executive vice president and
leader of the power delivery business for Pepco Holdings. He
managed over 95 percent of the business and employee base and was
responsible for all utility operations in three states and the
District of Columbia including IT and support services, and the
relationship with four local unions. From 2006 to 2009, Velazquez
served as president and CEO of Conectiv Energy, then Pepco
Holdings’ competitive merchant generation and energy trading
subsidiary. He served as vice president of strategic planning and
chief risk officer of Pepco Holdings from 2005 to 2006.
Velazquez has served on the boards of several educational and
community organizations, such as the Trust for the National Mall,
Smithsonian’s National Zoo and Conservation Biology Institute
Advisory Board, Greater Washington Board of Trade, Federal City
Council, D.C. Policy Center of the Federal City Council, Emeritus
Advisory Board of the American Association of Blacks in Energy, and
United Way of the National Capital Area. He has also served as a
board member of Southeastern Electric Exchange, Association of
Edison Illuminating Companies, and is a member of the Edison
Foundation Institute for Electric Innovation Management Committee.
Velazquez is a graduate of Widener University where he earned his
bachelor’s degree in engineering.
More about Denise Galambos
Galambos has held several leadership roles at Exelon since
joining the company in 2012 as part of Constellation and BGE’s
merger into Exelon. Before moving into the chief customer officer
role at BGE, she was vice president of Utility Oversight and was
responsible for identifying and developing policy positions which
furthered the overall business strategy across multiple operating
companies. She ensured coordination on key issues such as non-wires
alternatives, distribution planning, decarbonization and
electrification strategies. Prior to her policy role, she was vice
president of Human Resources where she oversaw Labor Relations
including a first contract negotiation, talent management,
succession planning, compensation and diversity, equity and
inclusion at BGE. Galambos also worked in Exelon's legal department
as an associate general counsel for Labor and Employment.
Galambos is active in the Baltimore community, serving on the
boards of the Hippodrome Foundation, Baltimore Museum of Art,
Baltimore Symphony Orchestra, SquashWise, and Arts for Learning,
Maryland. She is a graduate of the University of Wisconsin Law
School and received her bachelor's degree from Princeton
University.
# # #
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 250 company and the nation’s
largest utility company, serving more than 10 million customers
through six fully regulated transmission and distribution utilities
— Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE),
Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO
Energy Company (PECO), and Potomac Electric Power Company (Pepco).
More than 19,500 Exelon employees dedicate their time and expertise
to supporting our communities through reliable, affordable and
efficient energy delivery, workforce development, equity, economic
development and volunteerism. Follow Exelon on X, formerly known as
Twitter, @Exelon.
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