Canning Joins Exelon's Board

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 Chicago.

“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 Chicago and president of First Chicago Venture Capital. He earned his bachelor's degree from Denison University and a law degree from Duke University.

Canning also serves as chairman of the Federal Reserve Bank of Chicago, a position he has held since November 2007. Prior to that, he was deputy chairman of the Federal Reserve Bank of Chicago. He joined the board in 2004. Canning currently serves on the boards of directors of The Economic Club of Chicago, Milwaukee Brewers Baseball Club, Northwestern Memorial Hospital, TransUnion Corp. and Children's Inner City Educational Fund; and on the boards of trustees of the Big Shoulders Fund, The Field Museum, Museum of Science and Industry and Northwestern University. He is a Commissioner of the Irish Pension Reserve Fund and a Trustee and Chairman of The Chicago Community Trust

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 Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and natural gas to 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.