Mayo A. Shattuck III, who oversaw the sale of Baltimore's Constellation Energy Group to Exelon Corp., has retired as executive chairman of the Chicago company.
Exelon, which disclosed the change in a U.S. Securities and Exchange Commission filing Thursday, said Shattuck remains on the board as non-executive chairman. He stepped down as an employee Feb. 28, the company said.
Exelon also said Shattuck received just over $8 million in compensation last year, including $3.6 million in stock awards. Shattuck began work as Exelon's executive chairman last March, after the $7.9 billion merger with Constellation closed. Exelon estimated the present value of Shattuck's pension at nearly $50 million.
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