Exelon Utilities CEO Anne Pramaggiore abruptly retired Tuesday amid a federal investigation into the company’s lobbying activities at the Capitol.
The announcement of Pramaggiore’s retirement came less than a week after Exelon and ComEd acknowledged they had received a second subpoena in the probe. Authorities were looking for “communications” between the companies and state Sen. Martin Sandoval, a Chicago Democrat whose home and offices were raided by FBI agents last month.
The lengthy list of things authorities were looking for included “items related to ComEd, Exelon, any employee, officer or representative of any of those businesses, Exelon Official A, Exelon Official B, Exelon Official C, Exelon Official D, and/or any issue supported by any of those businesses or individuals, including, but not limited to, rate increases.”
In last week’s filing with regulatory authorities, the companies said they have “cooperated fully” with prosecutors’ requests. To avoid potential conflicts of interest, Exelon has formed a special oversight committee “comprising solely independent directors and advised by independent outside legal counsel” to handle the matter, the statement said.
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