Retired Exelon CEO Rowe Received $23.5 Million in Pay, Perks
Exelon Corp. (EXC) 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.
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