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Retired Exelon CEO Rowe Received $23.5 Million in Pay, Perks

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March 14 (Bloomberg) -- Exelon Corp. paid retired Chief Executive Officer John Rowe $23.5 million for working less than three months in 2012 and completing the power company’s $7.3 billion takeover of Constellation Energy Group Inc.

Rowe doubled his 2011 compensation after retiring on March 12, 2012, three days after the acquisition closed, Chicago-based Exelon said in a filing today.

Rowe’s benefits included a $9 million pension payout, $4.5 million in stock, $4 million in payments related to the Constellation deal and $2.8 million for income taxes.

Christopher Crane, his successor as Exelon’s CEO, received $10.2 million last year, an 83 percent increase from 2011. Mayo Shattuck III, the former Constellation chief executive who succeeded Rowe as chairman of Exelon’s board, received $8 million, according to the regulatory filing.

To contact the reporter on this story: Julie Johnsson in Chicago at jjohnsson@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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