Exelon's Business Strategy: John W Rowe's Way


Code : COM0026

Year :

Industry : Utilities

Region : USA

Teaching Note:Not Available

Structured Assignment :Not Available

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Introduction:Exelon Corporation was created in October 2000 through the merger of PECO Energy Company, of Philadelphia, and Unicom, of Chicago. Corbin A. McNeill Jr., the CEO of erstwhile PECO Energy Company and John W. Rowe, the CEO of former Unicom were the people largely responsible for the founding of Exelon.

Exelon is the holding company for three wholly-owned subsidiaries: Exelon Energy Delivery, which includes Commonwealth Edison and PECO Energy, two distribution companies providing electric service in Northern Illinois and electric and natural gas service in Southeastern Pennsylvania, respectively; Exelon Enterprises, which owns a host of unregulated businesses involved in energy and infrastructure services, broadband and telecommunications services, and other ventures; and Exelon Generation Company.

In April 2002, Corbin retired as the co-CEO of Exelon while John continued to transform Exelon into the best performing utility in U.S. In December 2002, Forbes ranked Exelon, the outstanding energy company in U.S. In 2002 and 2003, BusinessWeek listed the company in its tally of 50 best performing companies in the Standard & Poor’s 500- stock index. John and his board members’ frankness, cost cutting, and acquisition strategies helped Exelon stock perform better when compared with other utility stocks in specific and S&P stock index in general.

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