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Information
Highly experienced technology and customer‑experience leader to drive integrated strategy for enhanced tools and services for Exelon's 10.7 million customers Exelon (NASDAQ:EXC) today announced that Tim Peterson,
Original sourceAI Summary
Exelon has appointed Tim Peterson as executive vice president and chief customer and technology officer, scheduled to start in February. His role will focus on integrating customer strategy with IT enhancements to improve service for Exelon's 10.7 million customers across several states.
Trading Thesis
Investing in EXC may yield positive returns with improved customer service strategies.
Market-Moving
- Tim Peterson's appointment is expected to drive operational improvements at Exelon.
- Enhanced technology is likely to attract more customers and improve service delivery.
- The focus on integration could reduce overhead costs in the long term.
- Investor confidence may rise as Exelon boosts customer experience initiatives.
- Effective leadership changes may lead to strategic growth opportunities.
Key Facts
- Exelon serves over 10.7 million customers across five states and D.C.
- Tim Peterson previously led IT functions at Xcel Energy.
- Peterson holds a BBA and an MBA, increasing his strategic value.
- Exelon is a Fortune 200 utility company focused on service excellence.
Companies Mentioned
- Xcel Energy (XEL): Peterson's past successes can enhance Exelon's strategic direction.
Corporate Developments
The appointment of a seasoned tech leader signals Exelon's commitment to modernizing its customer service and technology infrastructure, which could enable better operational performance and greater market competitiveness.
FAQ
Why Bullish?
Leadership changes often lead to shifts in strategy, potentially creating value. The history of impactful executives reshaping utility companies supports this outlook.
How important is it?
The appointment of a new executive can reshape company strategy, influencing investor sentiment and business outcomes, particularly in a customer-centric sector like utilities.
Why Long Term?
The effects of Peterson's strategic direction will unfold over time, particularly as technology and customer service improvements manifest.
Related Companies
Highly experienced technology and customer‑experience leader to drive integrated strategy for enhanced tools and services for Exelon's 10.7 million customers
Exelon (NASDAQ:EXC) today announced that Tim Peterson, currently senior vice president, chief information officer and chief technology officer at Minneapolis-based Xcel Energy, will join Exelon as executive vice president and chief customer and technology officer in February.
Peterson will report to Exelon President and CEO Calvin Butler and serve on the company's Executive Committee. In this newly aligned role, he will lead an enterprise-wide organization that brings together customer strategy and experience with information technology functions. The combined organization is designed to support Exelon's long-term strategic vision, integrating the capabilities and systems that service Exelon's more than 10.7 million customers across five states and the District of Columbia.
At Xcel Energy, which serves nearly six million customers across eight states, Peterson led the company's digital and IT functions supporting the customer and employee experience. He oversaw several major transformation initiatives, including large-scale grid modernization and customer and billing system upgrades. Prior to joining Xcel, Peterson held chief information officer roles at Optum, Wellmark, and TruStage Financial Group.
"Tim brings deep experience from global, customer-focused organizations, and his track record of delivering innovation, operational excellence and improved customer outcomes across multiple geographies will be invaluable as we continue strengthening the reliability, affordability and service excellence our customers expect," said Butler.
Peterson holds an MBA from the University of Minnesota and a BBA from the University of Wisconsin. He is also a Certified Information Systems Security Professional (CISSP). As an active member of the Minneapolis-St. Paul community, Peterson served on the boards of the Science Museum of Minnesota and the Minnesota Technology Association.
Exelon (NASDAQ:EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow @Exelon on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260108051012/en/
James Gherardi
Corporate Communications
312-394-7417
James.Gherardi@exeloncorp.com