UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
July
19, 2007
Date
of Report (Date of earliest event reported)
|
|
|
|
|
Commission File
Number
|
|
Exact
Name of Registrant as Specified in Its Charter; State of Incorporation;
Address of Principal Executive Offices; and Telephone
Number
|
|
IRS
Employer
Identification Number
|
|
|
|
|
|
1-16169
|
|
EXELON
CORPORATION
(a
Pennsylvania corporation)
10
South Dearborn Street
P.O.
Box 805379
Chicago,
Illinois 60680-5379
(312)
394-7398
|
|
23-2990190
|
333-85496
|
|
EXELON
GENERATION COMPANY, LLC
(a
Pennsylvania limited liability company)
300
Exelon Way
Kennett
Square, Pennsylvania 19348-2473
(610)
765-5959
|
|
23-3064219
|
000-16844
|
|
PECO
ENERGY COMPANY
(a
Pennsylvania corporation)
P.O.
Box 8699
2301
Market Street
Philadelphia,
Pennsylvania 19101-8699
(215)
841-4000
|
|
23-0970240
|
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
£
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
£
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Section
5 — Corporate Governance and Management
Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On
July
19, 2007, Exelon Corporation (Exelon) announced that John L. Skolds will
retire
from Exelon effective September 7, 2007. Mr. Skolds is a named Executive
Officer
of Exelon, Exelon Generation Company, LLC (Generation) and PECO Energy Company
(PECO) (Registrants). In connection with his retirement, Mr. Skolds will
resign
as President and will no longer serve as the Principal Executive Officer
of
Generation and will resign as a Director and as President and will no longer
serve as Principal Executive Officer of PECO.
On
July
24, 2007, the Board of Directors (Board) of Exelon appointed Paul L. Joskow
to
the Board to fill a vacancy created by the expansion of the size of the Board.
Mr. Joskow was elected to Class II and will serve until the annual meeting
of
shareholders of Exelon in 2008. Mr. Joskow’s appointment was effective as of
July 23, 2007. He was appointed to the Audit, Energy Delivery Oversight,
and
Risk Oversight Committees of the Board.
On
July
23, 2007, the Board of PECO increased its size and appointed the following
new
Directors:
|
M.
Walter D’Alessio
|
Class
II
|
|
|
Nelson
A. Diaz
|
Class
II
|
|
|
Rosemarie
B. Greco
|
Class
I
|
|
|
Thomas
J. Ridge
|
Class
III
|
|
|
Ronald
Rubin
|
Class
II
|
|
The
PECO
Board does not have any committees. Messrs. D’Alessio, Diaz, and Ridge and Ms.
Greco also serve as Directors of Exelon. Mr. Rubin also was a Director of
Exelon
until his retirement on May 8, 2007. Mr. Diaz was a partner with Blank Rome
LLP
through May 2007 when he became Of Counsel to Cozen O’Connor. Blank Rome LLP
provided legal services for Exelon for many years and continues to provide
such
services in 2007. Additional information about this relationship is disclosed
in
Exelon’s Definitive Proxy Statement for the 2007 annual meeting of
shareholders.
*
* * *
*
This
Current Report includes forward-looking statements within the meaning of
the
Private Securities Litigation Reform Act of 1995, that are subject to risks
and
uncertainties. The factors that could cause actual results to differ materially
from these forward-looking statements include those discussed herein as well
as
those discussed in (1) Exelon’s 2006 Annual Report on Form 10-K in (a) ITEM 1A.
Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations and (c) ITEM 8. Financial Statements
and
Supplementary Data: Note 18; (2) Exelon’s Second Quarter 2007 Quarterly Report
on Form 10-Q (to be filed on July 25, 2007) in (a) Part II, Other Information,
ITEM 1A. Risk Factors and (b) Part I, Financial Information, ITEM 1. Financial
Statements: Note 13; and (3) other factors discussed in filings with the
Securities and Exchange Commission by the Registrants. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which
apply only as of the date of this Current Report. None of the Registrants
undertakes any obligation to publicly release any revision to its
forward-looking statements to reflect events or circumstances after the date
of
this Current Report.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, each Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
EXELON
CORPORATION
|
|
|
EXELON
GENERATION COMPANY, LLC
|
|
|
PECO
ENERGY COMPANY
|
|
|
|
|
|
/s/
John F.
Young
|
|
|
John
F. Young
|
|
|
Executive
Vice President, Finance and Markets
|
|
|
and
Chief Financial Officer
|
|
|
Exelon
Corporation
|
|
July
25,
2007