John Canning, chairman and co-founder of Madison Dearborn Capital Partners, has joined the board of Midwestern utility Exelon (NYSE: EXC).
Exelon today announced the appointment of John A. Canning Jr. to its board of directors. Canning is chairman and co-founder of Madison Dearborn Partners, LLC (MDP) and chairman of the Federal Reserve Bank of
“John brings a distinguished track record of thoughtful leadership and financial expertise to the board,” said John W. Rowe, Exelon's chairman, president and CEO. “We are pleased to have a seasoned executive of his caliber join us.”
Canning is chairman of MDP, a Chicago-based management buyout and special equity investment firm he co-founded in 1993. He previously served as president and then CEO of MDP. Before founding MDP, Canning spent 24 years with First Chicago Corp., including serving as executive vice president of The First National Bank of
Canning also serves as chairman of the Federal Reserve Bank of
Exelon's 15-member board appointed Canning on July 29. His appointment is effective today.
Exelon Corporation is one of the nation's largest electric utilities with nearly $19 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the