Constellation gets new CEO as Exelon shakes up C-suite
Exelon Corp. made some dramatic changes to its leadership team on Tuesday, including a switch at the top of its Baltimore-based energy products and services company, Constellation.
Constellation CEO Joseph Nigro stepped down from his role, effective Tuesday, to take the chief financial officer job at Exelon (NYSE: EXC). He succeeds Jonathan W. Thayer, who will become Exelon’s senior executive vice president and chief transformation officer.
Nigro, a 21-year Exelon veteran, became Constellation’s CEO in 2013 following Chicago-based Exelon’s acquistion of Constellation, Baltimore’s only Fortune 500 company, in 2012 for $7.9 billion. He oversaw more than 2,254 Constellation employees nationwide, including more than 500 at the Baltimore headquarters.
James McHugh, currently senior vice president, wholesale trading for Constellation, was named CEO of Constellation and executive vice president of Exelon. McHugh is a 23-year veteran of the industry who previously managed Constellation’s portfolio management and strategies.
Nigro, though a low-profile executive, quickly became involved in the city and as a board member of the National Aquarium played a key role in upgrading the attraction’s infrastructure. He lives on the water in Fells Point in a townhome previously owned by Olympic champion Michael Phelps.
“Joe Nigro brings nearly 30 years of industry experience to his new role, having successfully delivered results, while reorganizing and streamlining our competitive energy business and being a champion of talent,” Exelon CEO Christopher Crane said in announcing the appointment.
Thayer served as CFO of Exelon since the merger with Constellation in 2012, and previously served as CFO at Constellation since 2008.
Other management changes included:
• Anne Pramaggiore, CEO and president of Exelon’s ComEd subsidiary, was promoted to CEO of Exelon Utilities, succeeding Denis P. O’Brien.
• Joseph Dominguez, executive vice president, governmental and regulatory affairs and public policy, was promoted to CEO of ComEd.
