PECO Announces Leadership Transition as David Vahos Becomes Special Advisor; Mike Innocenzo Named Interim President and CEO
PECO, a subsidiary of Exelon Corporation, has announced a significant leadership transition aimed at ensuring continuity in its operations and strategic direction. David Vahos, who currently serves as President and Chief Executive Officer of PECO, will be transitioning from his executive leadership role to take on a new position as Special Advisor to Exelon’s President and CEO, Calvin Butler. This move marks a new phase in Vahos’s long-standing career within the energy sector and reflects his continued involvement in shaping the broader strategic vision of Exelon.
At the same time, Exelon has appointed Mike Innocenzo, its Chief Operating Officer, as the interim President and CEO of PECO. Innocenzo will assume this responsibility immediately while continuing to serve in his current role at Exelon, demonstrating the company’s confidence in his leadership capabilities and deep institutional knowledge. Notably, Innocenzo is no stranger to PECO’s executive leadership, having previously served as its President and CEO from 2018 to 2024.
Continuity in Leadership and Strategic Stability
This transition underscores Exelon’s emphasis on leadership continuity and operational stability across its utility businesses. PECO, one of the largest combined natural gas and electric utilities in the United States, serves millions of customers across southeastern Pennsylvania. Given the critical role the utility plays in powering homes, businesses, and essential infrastructure, ensuring seamless leadership transitions is a key priority.
David Vahos’s move into a Special Advisor role allows Exelon to retain his experience and insights during a time when the energy industry is undergoing rapid transformation. His advisory position will focus on supporting strategic initiatives under the leadership of Exelon CEO Calvin Butler, particularly as the company continues to invest in grid modernization, clean energy transition, and customer-centric service improvements.
Mike Innocenzo Returns to PECO Leadership
Mike Innocenzo’s appointment as interim President and CEO of PECO is viewed as a return to familiar ground. Having previously led PECO from 2018 through 2024, Innocenzo brings a strong understanding of the company’s operational structure, workforce, and customer base. During his prior tenure, he played a central role in strengthening the utility’s reliability, improving safety performance, and advancing modernization initiatives across the electric and gas systems.
Before his initial appointment as President and CEO, Innocenzo served as Senior Vice President and Chief Operating Officer at PECO. In that capacity, he oversaw key aspects of utility performance, including operational excellence, service reliability, customer satisfaction, safety, and financial management. His leadership helped drive improvements across PECO’s infrastructure and service delivery systems.
In addition to his COO role, Innocenzo held several other important positions within the organization. These included Vice President of Distribution System Operations and Advanced Grid and Meter Technology, Director of Gas Operations, Quality Services and Performance Improvement, and Regional Director overseeing Chester, Delaware, and Philadelphia counties. He also served as Regional Engineering Manager for Chester and Delaware counties, as well as Emergency Services Supervisor in Philadelphia. Early in his career, he worked as a Project Engineer in Philadelphia and Montgomery counties.
This extensive progression through technical, operational, and executive roles has provided Innocenzo with a deep understanding of utility operations at every level, from field engineering to corporate strategy.
Leadership Perspective
Commenting on his appointment, Mike Innocenzo expressed appreciation for the opportunity to return to PECO’s leadership at a pivotal moment for the energy sector.
“I am honored to once again lead PECO, as we stay relentlessly focused on operational excellence and advocating for affordable energy for our customers,” Innocenzo said. “I want to thank Dave Vahos for his continued commitment to our customers, communities and employees, and for his leadership of the energy transformation.”
His remarks highlight PECO’s dual priorities: maintaining reliable and affordable service for customers while simultaneously navigating the broader energy transition toward cleaner and more sustainable power sources. These goals are increasingly important as utilities face rising demand, evolving regulatory requirements, and growing expectations around environmental responsibility.
Industry Leadership and Community Engagement
Beyond his operational responsibilities, Mike Innocenzo has been widely recognized for his leadership within the energy industry and his contributions to civic and community organizations. He currently serves as a board member and immediate past chair of The Chamber of Commerce for Greater Philadelphia, where he has been actively involved in fostering economic growth and business collaboration across the region.
His commitment to leadership and public service has earned him numerous honors and awards over the years. These include the POWER of Professional Women Advocate Award, recognition as Philadelphia Citizen’s Lewis Katz Corporate Citizen of the Year, and being named “Most Admired CEO” by the Philadelphia Business Journal. These accolades reflect both his professional achievements and his dedication to advancing equity, inclusion, and community engagement.
Innocenzo’s influence extends beyond the energy industry. He serves on the boards of several prominent organizations, including the Philadelphia Police Athletic League (PAL), The Franklin Institute, the American Gas Association, and the Electric Power Research Institute, where he holds the position of second chair. These roles highlight his broad engagement in science, education, public safety, and energy research initiatives.
Additionally, he is a member of the Satell Institute, a civic leadership organization focused on corporate philanthropy and social impact. He also maintains advisory relationships with Drexel University and the Children’s Hospital of Philadelphia, contributing his expertise to academic advancement and healthcare innovation.
David Vahos’s Continued Role at Exelon
While stepping away from his day-to-day responsibilities at PECO, David Vahos will remain an important figure within the Exelon organization. As Special Advisor to the CEO, he will focus on strategic priorities across the enterprise, supporting initiatives that span multiple utility subsidiaries and business units.
Vahos’s leadership at PECO has been marked by a focus on transformation, modernization, and customer service enhancement. His tenure included guiding the utility through a period of significant change in the energy landscape, including increased electrification, digital infrastructure upgrades, and efforts to integrate cleaner energy sources into the grid.
His new advisory role ensures that his institutional knowledge and experience remain available to Exelon’s executive leadership team during this period of ongoing industry evolution.
The leadership transition comes at a time when utilities across the United States are facing a complex set of challenges and opportunities. These include increasing electricity demand driven by electrification of transportation and heating, the need to modernize aging infrastructure, and the push toward decarbonization.
PECO is expected to continue focusing on grid resilience, reliability improvements, and customer affordability under Innocenzo’s interim leadership. At the same time, the company will likely maintain its investments in smart grid technologies, renewable energy integration, and advanced metering systems.
Exelon’s decision to appoint a highly experienced internal leader as interim CEO reflects its commitment to stability and continuity during this period. Innocenzo’s return to PECO leadership is expected to ensure that ongoing initiatives remain on track while allowing time for a broader executive search or long-term succession planning process.
Source Link: https://www.businesswire.com/
