- After almost 11 years in the position
- Praise and thanks for Crane
- Calvin Butler taking over
- Crane spoke at length and said 164 words
(exechange) — Chicago, Illinois, November 2, 2022 — Chris Crane, chief executive of Exelon, leaves. As announced by Exelon Corp. in a news release and in a regulatory filing published on Wednesday, November 2, 2022, Christopher (Chris) Crane leaves his post as chief executive officer at the energy transmission and distribution company, after almost 11 years in the role, effective December 30, 2022.
Chris Crane’s duties as CEO will be taken over by Calvin G. Butler, currently President and Chief Operating Officer at Exelon Corp.
“Accelerated his retirement plans to focus on his health”
Chris Crane’s departure from the CEO post is explained as follows. Exelon said: “The company recently promoted Butler and expanded his responsibilities as a step in the company’s leadership succession plans. Crane accelerated his retirement plans to focus on his health after learning in recent days that he will require treatment for significant spinal and hip issues. He will work with Butler through the end of the year on the transition process.”
Exelon said: “Chris Crane has announced that he will retire from his position as CEO and as a director of the Exelon Board effective Friday, Dec. 30, 2022.”
Exelon further said: “Christopher Crane will retire from his position as CEO, and from his role as a director on Exelon’s Board of Directors, effective December 30, 2022, due to health reasons. Mr. Crane conveyed his intention to retire to the Board at a special meeting held on October 30, 2022.”
Share price increase since November 2017
The announcement follows an increase in Exelon Corp.’s share price of 35% since November 2017.
In the position of CEO since 2012
Chris Crane became CEO of the Company in 2012.
Christopher M. Crane is chief executive officer of Exelon Corporation, the nation’s largest utility holding company.
Headquartered in Chicago, Exelon serves more than 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its 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).
Prior to Exelon’s separation from Constellation—its former generation and competitive energy businesses—in early 2022, Crane had been president and CEO of Exelon for 10 years.
Under his leadership, Exelon transformed into the nation’s leading competitive energy provider. Crane oversaw a family of companies that did business in 48 states, the District of Columbia and Canada, with operations that represented every stage of the energy value chain: Exelon Generation, one of the largest competitive U.S. power generators, with more than 31,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets; Constellation, which provided energy products and services to more than 2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100; and the six Exelon utilities that serve more than 10 million customers today.
He previously served as president and chief operating officer of Exelon.
In that role, he oversaw one of the U.S. industry’s largest portfolios of electric generating capacity, with a multi-regional reach and the nation’s largest fleet of nuclear power plants.
He directed a broad range of business including major acquisitions, transmission strategy, cost management initiatives, oversight of major capital programs, generation asset optimization and generation development.
Crane has worked in the nuclear industry in progressively more responsible positions for over 30 years.
He joined Exelon (then ComEd) in 1998 and was named chief nuclear officer in 2004. He was a key player in the dramatic turnaround of ComEd nuclear performance, and the development of Exelon’s proprietary Nuclear Management Model, a codification of industry-leading operational, safety, management, regulatory, workforce and financial practices.
The model is the key to Exelon Nuclear’s sustained excellence in production, cost and overall effectiveness.
Crane assumed responsibility for Exelon’s fossil, hydro and renewables facilities, in addition to the nuclear fleet, in 2007.
He oversaw a broad range of generation and business development initiatives, including new nuclear development, nuclear operating services, development of the nation’s largest urban solar project, innovative decommissioning strategies and asset optimization.
He was instrumental in establishing corporate citizenship and public outreach as a plant priority.
Crane was named president of Exelon Generation in 2008, with added responsibility for Power Team, Exelon’s former wholesale power trading and competitive retail organization.
Prior to joining Exelon, Crane served as Browns Ferry site vice president for the Tennessee Valley Authority, and worked in new plant start-up at the Comanche Peak Nuclear Power Plant in Texas and Palo Verde Nuclear Generating Station in Arizona.
Push-out Score not determined
When the reason for the departure is health-related, a Push-out Score™ is not determined.
Read the full story in the exechange report 45.2022 ($).