Calvin Butler, the accomplished Black executive serving as the president and CEO of Exelon Corporation, a public utility company headquartered in Chicago, received a total compensation of nearly $6.3 million in 2022.
Butler, who assumed the CEO role on Dec. 31, 2022, garnered a total compensation of $6.29 million, reflecting a remarkable surge of 36.75 percent compared to the previous year’s reward of $4.6 million.
This package includes a base salary of $0.93 million, augmented by a short-term incentive of $1.07 million, recognizing his pivotal role in steering the Chicago-based public utility company. Additionally, Butler received a long-term incentive award totalling $3.42 million.
Exelon, led by Butler, secures reign as nation’s electric powerhouse
Under Butler‘s strategic guidance, Exelon Corporation, the largest electric company in the United States by revenue, has strengthened its standing as the nation’s largest regulated electric utility group.
The company, presently serving 10 million customers across New Jersey, Maryland, Illinois, Delaware, Pennsylvania, and the District of Columbia, holds the 99th position on the Fortune 500 list of the largest U.S. corporations.
Before assuming the role of CEO, Butler, with a history of leadership positions at BGE and ComEd, served as president and chief operating officer of Exelon and as CEO of BGE from 2014 to 2019. His tenure saw significant growth and marked achievements, earning him the 218th spot among Fortune 500 CEOs.
Exelon’s financial performance: 2022 revenue hits $19.89 billion, assets decline by 28.32 percent
In the fiscal year 2022, Exelon Corporation reported revenue of $19.89 billion, signalling a modest increase of 4.27 percent from the previous year’s $19.08 billion.
However, the company’s assets experienced a decline of 28.32 percent, dropping from $133.01 billion in 2021 to $95.35 billion by the end of the fiscal year.
Under Butler’s stewardship, the company is poised for continued growth, a testament to his ability to navigate complexities in the ever-changing business landscape.
This affirms Exelon’s dominance as the nation’s leading transmission and distribution company, underscored by Butler’s strategic acumen in an ever-evolving landscape.
