Exelon CEO Crane to retire at year-end, succeeded by Butler
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Exelon (NASDAQ:EXC) said Wednesday that CEO Chris Crane will retire as CEO and as a director effective at the end of the year, to be succeeded by current President and COO Calvin G. Butler Jr. as its new President and CEO.
The company recently promoted Butler and expanded his responsibilities, but Crane accelerated his retirement plans to focus on his health after learning recently that he will require treatment for significant spinal and hip issues.
Crane joined Exelon (EXC) in 1998 and was named chief nuclear officer in 2004, before becoming president of Exelon Generation in 2008 and finally taking control as the company's CEO and a board member in 2012.
Before his promotion last month, Butler was Senior Executive VP and COO since February 2022 after serving as Exelon Utilities CEO since 2019.
Exelon (EXC) is "a pure play transmission firm poised to benefit from utility grid transformation," Mike Zaccardi writes in an analysis published on Seeking Alpha.