Exelon Board of Directors names Calvin Butler as new CEO
On Wednesday, Exelon’s Board of Directors said Calvin Butler would take the helm as CEO after Chris Crane announced his retirement.
Butler will take on the CEO role on Dec. 31, 2022. Crane announced he will retire as CEO and director of the Board effective Friday, Dec. 30. Crane accelerated his retirement plans to focus on his health, the company said. Butler was recently promoted as part of the succession plan. Crane said he will work with Butler through the end of the year as part of the transition process.
Butler joined the company in 2008 and has more than 28 years of leadership experience. Prior to being promoted to president and COO in October 2022, Butler was the senior executive vice president and COO starting in 2021. Between 2019 and 2021, Butler served as the CEO of Exelon Utilities, overseeing Exelon’s six electric and gas delivery companies.
“Leading Exelon is a privilege and responsibility that I take very seriously,” said Butler. “Chris is a tremendous leader, mentor, and friend. As our world has been undergoing significant change, so too has the energy industry, and Chris has been at the forefront of that evolution. At Exelon, we are uniquely positioned to lead the nation and our industry to a clean energy future that is safe, reliable, affordable, and equitable for all. I appreciate the Board’s confidence in me and will do everything I can to serve our customers and communities, keep our employees safe and move the energy industry forward.”
Crane started as the company’s CE0 and a member of the Board of Directors in 2012. Crane is also a member of the board of directors for EEI. During his time at the helm, Crane established within the company a focus on workforce development in underserved communities, with particular attention on STEM careers for young women and job training and placement for work-ready adults. He joined the company in 1998 when it was ComEd and was named chief nuclear officer in 2004. In 2007, he assumed responsibility for the company’s fossil, hydro, and renewables facilities in addition to the nuclear fleet, and in 2008, he was named president of Exelon Generation, with added responsibilities for the Power Team, the company’s former wholesale power trading, and competitive retail organization.
“We are grateful to Chris for his leadership of Exelon and the industry,” said John F. Young, chair of the Exelon Board of Directors. “From building the world’s leading nuclear operating fleet and advocating for the nuclear facilities that provide a significant portion of the nation’s clean energy to building the leading pure transmission and distribution company that Exelon is today, Chris’ focus has been on ensuring a cleaner and brighter future for our customers and communities. On behalf of the Exelon Board, we are grateful for Chris’ more than two decades of service to Exelon. We will support Chris and Calvin during this transition period and look forward to working with Calvin as he begins his role as the new president and chief executive officer of Exelon.”
