NEW YORK (AP) -- Con Edison on Thursday named John McAvoy as its president and chief executive to succeed Kevin Burke, who is retiring after 40 years with the electric utility.
The company said McAvoy will take on his new role Jan. 1. McAvoy also will serve as CEO of Con Edison's main subsidiary, Consolidated Edison Co. of New York Inc.
McAvoy, 53, joined Con Ed 33 years ago, serving as senior vice president of central operations. He became president and CEO of the company's Orange and Rockland Utilities Inc. unit last year.
Burke, 62, will remain non-executive chairman during an unspecified transition period. He has been president and CEO of Con Edison since 2005.
Consolidated Edison Inc. shares closed earlier down 41 cents at $56.58.