internal
Calvin G. Butler, Jr.
President and Chief Executive Officer
Executive
3 yr
30 reports
Exelon Corporation ·EXC
Six regulated utility CEOs report directly to Exelon’s CEO
Utilities · Fortune #91 · Divisional structure · 20K employees · Chicago, IL
7
CEO span
↓ tighter than peers (avg 9)
3.6
Avg span
moderate
3
Max depth
3 levels
2.4 yr
Avg tenure
60%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$24.3B
Operating income
$5.1B
Net income
$1.2B
Total assets
$116.6B
Shares out
1.02B
Sourced from Exelon Corporation DEF 14A · filed 2026-03-18 ↗ View on SEC
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Exelon Corporation organizational chart
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Six regulated utility CEOs report directly to Exelon’s CEO, creating a highly decentralized divisional structure. This page maps Exelon’s executive hierarchy, utility leadership, recent changes, and compares its unusually lean corporate center with peer utilities.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal David Glockner departed as EVP, Compliance, Audit and Risk
Departed effective January 1, 2026
Source · See change logScenario views in the chart
- Add Chief AI Officer Creates a new CAIO role to centralize AI governance and advanced analytics across utilities.
- Shift utility operations under COO Moves utility CEOs to report to the COO to tighten operational coordination.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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The people
Who's running this
8 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
Michael Innocenzo
Executive Vice President and Chief Operating Officer
Operations
2 yr
20 reports
internal
Jeanne Jones
Executive Vice President, Chief Finance Officer, Audit and Risk
Finance
4 yr
8 reports
internal
Colette Honorable
Executive Vice President, Chief Legal Officer, Compliance and Corporate Secretary
Legal
1 yr
6 reports
Gil Quiniones
President and CEO, Commonwealth Edison (ComEd)
ComEd
6 yr
3,000 reports
David Velazquez
President and CEO, PECO Energy Company
PECO
1 yr
2,000 reports
Carim Khouzami
President and CEO, Baltimore Gas & Electric
BGE
2 yr
2,500 reports
Robert L. Zeigler
President and CEO, Pepco Holdings
Pepco
3 yr
2,200 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.
Calvin G. Butler, Jr. $15.6M
- Base salary
- $1.38M
- Stock awards
- $10.90M
- Non-equity incentive
- $2.67M
- Pension change
- $401K
- Other
- $257K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
Stock ownership requirements
Stock ownership guidelines are disclosed in the proxy but specific multiples are not summarized here.
The businesses
How Exelon Corporation divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Finance
400 employees
EVP & CFO (Jeanne Jones)
Oversees capital structure, financial reporting, audit, and enterprise risk management.
Operations
1K employees
EVP & COO (Michael Innocenzo)
Coordinates safety, reliability, and operational excellence across all utilities.
Legal & Compliance
250 employees
EVP & CLO (Colette Honorable)
Manages legal affairs, regulatory compliance, ethics, and corporate governance.
Commonwealth Edison
6K employees
CEO (Gil Quiniones)
Illinois electric distribution utility serving the Chicago metropolitan area.
The thesis
Why this org is unusual
Six regulated utility CEOs report directly to the Exelon CEO, an unusually pure divisional model for a Fortune 100 utility holding company.
The corporate center is deliberately lean, with only finance, operations, and legal centralized, while operational authority and regulatory accountability sit with each local utility CEO. This structure reflects Exelon’s fully regulated strategy following its generation spin, prioritizing jurisdiction-specific performance and rate case execution. The COO role coordinates cross-utility operational excellence without absorbing P&L ownership.
- All businesses are fully regulated T&D utilities
- COO oversees operations without owning utility P&Ls
The comparison
How Exelon Corporation stacks up
Compared with peers like Duke Energy and Southern Company, Exelon pushes more authority to operating company CEOs and maintains a thinner corporate layer. Many peers interpose group presidents or regional COOs between the CEO and utilities, increasing depth but reducing local autonomy. Exelon’s model trades …
C-suite size
Reporting depth
Exelon Corporation
3 levels
5 levels
5 levels
4 levels
5 levels
Avg C-suite tenure
Has COO / Has CAIO
Exelon Corporation ✓ COO — no CAIO
Current signals
What changed recently
The most consequential change was David Glockner’s departure, with audit, risk, and compliance responsibilities redistributed to the CFO and CLO.
- departed
- promoted
- promotedColette Honorable EVP, Chief Legal Officer, Compliance and Corporate Secretary
Expanded role effective January 1, 2026
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-03-18
- CEO
- Calvin G. Butler, Jr.
- CEO span
- 7
- C-suite
- 4
- Avg tenure
- 2.4 yr
Audit and compliance responsibilities consolidated following Glockner’s departure.
Named executive officers (4)
- Calvin G. Butler, Jr. - CEO since 2022
- Jeanne Jones - CFO since 2021
- Michael Innocenzo - COO since 2024
- Colette Honorable - CLO since 2025
Year-over-year changes
The executive team shrank and responsibilities were consolidated after Glockner’s exit.
- CEO span: 8 → 7
- C-suite size: 5 → 4
- Avg tenure: 2.8 → 2.4 yr
- departed David Glockner - EVP, Compliance, Audit and Risk (8-K Nov 2025)
- retitled Jeanne Jones - EVP, CFO, Audit and Risk (was EVP & CFO) (8-K Nov 2025)
Frequently Asked Questions
Who is the CEO of Exelon Corporation?
Calvin G. Butler, Jr. has served as President and CEO since December 2022.
What type of organizational structure does Exelon Corporation use?
Exelon uses a divisional structure built around fully regulated utility operating companies.
How many direct reports does Exelon’s CEO have?
The CEO has seven direct reports, including corporate executives and utility CEOs.
How has Exelon’s leadership changed recently?
In January 2026, David Glockner departed and audit, risk, and compliance duties were reassigned to the CFO and CLO.
Who reports directly to Exelon’s CEO?
The CEO’s direct reports include the CFO, COO, CLO, and the presidents of Exelon’s regulated utilities.
Sources
- 8-K Filing, Nov 2025
- SEC EDGAR: Exelon Corporation DEF 14A Proxy Statement
- SEC EDGAR: Exelon Corporation 10-K Annual Report
Reference
Cite this page
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APA 7th
Creately. (2026). Exelon Corporation organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/exelon/MLA 9th
"Exelon Corporation Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/exelon/. Accessed .Chicago 17
Creately. "Exelon Corporation Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/exelon/.Original SEC source View on SEC ↗
Exelon Corporation. DEF 14A. Filed 2026-03-18. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1109357/000110935726000040/exc-20260318.htmPermanent URL: https://creately.com/org-chart/fortune-500/exelon/ · last updated 2026-04-01