Constellation Energy Group
's three directors have been named to serve on Exelon's board of directors once the merger between the two energy giants is completed
Constellation Energy Group's three directors have been named to serve on Exelon's board of directors once the merger between the two energy giants is completed, according to documents filed Wednesday.
Ann C. Berzin, a Constellation director since 2008; Yves C. de Balmann, a director since 2003; and Robert J. Lawless, a director since 2002, are to join Constellation Chief Executive Officer and Chairman Mayo A. Shattuck III
, who was previously named as executive chairman of the board.
The merger agreement calls for four Constellation directors to be appointed to Exelon's board.
If the merger closes before April 2, the four directors will stand for election at Exelon's annual meeting, which is scheduled for that day. If the merger closes after that date, the Exelon board will appoint them.
The $7.9 billion deal is waiting on a decision by the Federal Energy Regulatory Commission, the last remaining regulatory hurdle. Last week, the Maryland Public Service Commission approved the merger with more than three dozen conditions, which the two companies agreed to meet.
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