Daily Local News (West Chester, PA)
PECO NAMES NEW PRESIDENT AND CEO TO LEAD UTILITY
Dave Velazquez named PECO president/CEO, Mike Innocenzo is promoted to Exelon COO
PECO has named Dave Velazquez as the company’s next president and chief executive officer. He succeeds Mike Innocenzo, who has been promoted to executive vice president and chief operating officer at PECO’s parent company, Exelon.
Both appointments are effective April 1, the company announced this week.
Velazquez has more than 40 years of utility and energy industry experience and has been part of Exelon’s executive leadership team since the company’s merger with Pepco Holdings in 2016.
“It is both a privilege and an honor to have the opportunity to lead a company with more than 140 years of rich history in the region and in our industry,” Velazquez said in a statement. “PECO’s customers can expect my commitment to delivering a premier experience for them across every aspect of the service we provide.”
Velazquez currently serves as executive vice president of utility operations and technology for Exelon. Prior to his role at Exelon, Velazquez was president and chief executive officer of Pepco Holdings, which includes Atlantic City Electric, Delmarva Power and Pepco, three energy companies serving customers in New Jersey, Delaware, Maryland and the District of Columbia.
In his new role as Exelon chief operating officer, Innocenzo will oversee the operations of the company’s six transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco — which serve more than 10 million customers. “It has been a pleasure to serve the Philadelphia region as I’ve grown my career over the past 36 years at PECO, which is part of the fabric that makes this city and region so strong,” Innocenzo said in a statement. “I look forward to taking on this new opportunity with the same passion, commitment and drive that helped make PECO a consistent leader in our industry.”
Innocenzo will also assume the chairmanship of each of the Exelon operating company boards of directors at PECO, BGE, ComEd, and Pepco Holdings, effective April 1.
Innocenzo spent 36 years at PECO in a range of roles prior to assuming the president and chief executive officer role in 2018. He currently serves as the chairman of the board of the Greater Philadelphia Chamber of Commerce, a position he will hold throughout his current term.
Headquartered in Philadelphia, PECO is Pennsylvania’s largest electric and natural gas delivery company, serving nearly 1.7 million electric customers in southeastern Pennsylvania — including Chester, Delaware and Montgomery counties; and more than 548,000 natural gas customers — including portions of Chester, Delaware and Montgomery counties.