Five Constellation execs named to Exelon posts

An Exelon executive would run the business unit that would remain in Baltimore if the proposed merger between Constellation Energy Group and Exelon Corp. is approved, Chicago-based Exelon said Wednesday.

Under the merger, Constellation Energy's growing retail and wholesale power-selling businesses, known as NewEnergy, would retain the Constellation brand name. Exelon's similar business in Pennsylvania would join the group in Baltimore.


Kenneth W. Cornew, a senior vice president and president of Exelon Power Team, would become the combined company's executive vice president and chief commercial officer as well as chief executive officer of Constellation.

Reporting to Cornew would be three Constellation executives:

Mark Huston, head of Constellation's retail energy, would become senior vice president for retail of the combined company.

Max Duckworth, co-head of Constellation's commodities unit, would become senior vice president of proprietary trading and fuels.

Duckworth's co-head, Edwin Quinn, would become senior vice president of wholesale trading and origination.

Separately, two Constellation executives would hold key executive positions in the combined company's risk department.

Brenda L. Boultwood, Constellation's senior vice president and chief risk officer, would become senior vice president for enterprise risk management, credit risk and trading policy compliance. Boultwood would report to Joseph R. Glace, Exelon's chief risk officer, who would assume the same role for the combined company.

Robert J. Gauch, Constellation's vice president for credit risk, would remain in that role in the combined company.


Other Constellation executives who were previously named to new posts include:

Jonathan W. "Jack" Thayer, chief financial officer, who would become executive vice president and CFO of the combined company.

Kenneth W. DeFontes Jr., chief executive officer of Constellation's Baltimore Gas and Electric Co., would stay on as head of the utility.

Constellation Chairman and CEO Mayo A. Shattuck III would be executive chairman of the combined company.