Retired Exelon CEO Rowe Received $23.5 Million in Pay, Perks
By Julie Johnsson - Mar 14, 2013 3:40 PM CT
Exelon Corp. (EXC) paid retired Chief Executive Officer John Rowe $23.5 million for working less than three months in 2012 and completing the power company’s $7.3 billion takeover of Constellation Energy Group Inc.
Rowe doubled his 2011 compensation after retiring on March 12, 2012, three days after the acquisition closed, Chicago-based Exelon said in a filing today.
Rowe’s benefits included a $9 million pension payout, $4.5 million in stock, $4 million in payments related to the Constellation deal and $2.8 million for income taxes.
Christopher Crane, his successor as Exelon’s CEO, received $10.2 million last year, an 83 percent increase from 2011. Mayo Shattuck III, the former Constellation chief executive who succeeded Rowe as chairman of Exelon’s board, received $8 million, according to the regulatory filing.
And this retired CEO probably sits on the Board of Directors of other companies and participates in giving out millions to other CEO's. "You scrub my back, I'll scrub yours". Corporate CEO's in America are nothing but common thieves, stealing as much as they can, as fast as they can. Sounds like the motto for Congressmen !