Business & Finance
Business and Finance
Business and Finance
Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Mon, February 23, 2009Sun, February 22, 2009Fri, February 20, 2009Thu, February 19, 2009Wed, February 18, 2009Tue, February 17, 2009Constellation Energy Names James L. Connaughton Executive Vice President, Corporate Affairs, Public and Environmental Policy
Published in Business and Finance on Monday, February 23rd 2009 at 10:26 GMT, Last Modified on 2009-02-23 10:28:14 by Market Wire
BALTIMORE--([ BUSINESS WIRE ])--Constellation Energy (NYSE:CEG) today announced the appointment of James L. Connaughton, former chairman of the White House Council on Environmental Quality, as executive vice president, corporate affairs, public and environmental policy.
In this newly created role, Connaughton will direct the company's environmental and energy policy matters, as well as public and government affairs. He will lead a comprehensive public and environmental policy agenda as the company leverages the strength of its low-emitting merchant fleet, expanding renewable portfolio and energy efficiency services, and its position as a leader in advancing the critical renaissance of emission-free nuclear energy. The appointment is effective Feb. 24, 2009. Connaughton will report to Michael J. Wallace, vice chairman, Constellation Energy.
"Jim has an extraordinary track record as a visionary environmental and energy policy leader," said Mayo A. Shattuck III, chairman, president and chief executive officer, Constellation Energy. "He brings a well-earned reputation as a bipartisan problem-solver, who can manage the complexities of critical business, economic and policy matters from the strategy phase through implementation. To be an energy leader, our company must be an environmental leader – they are one in the same, and that's the commitment we make to all of our stakeholders.
"The issues driving every element of our business strategy, from new nuclear and climate change to renewable energy and energy efficiency, are shaped and influenced by a myriad of policy considerations at every level of government, and by the needs and interests of our customers, shareholders and the communities we serve," said Shattuck. "Ultimately, our business legacy will be our environmental legacy, and as a company – and nation – we're at a critical juncture and must make the right choices. Jim understands both the policy implications and the business drivers, and he'll be an excellent addition to our team as Constellation Energy pursues a strategy that embraces shareholder growth complemented by an unparalleled commitment to environmental stewardship."
Connaughton was confirmed unanimously by the U.S. Senate and served as chairman of the White House Council on Environmental Quality from 2001-2009. In this capacity, he served on President Bush's senior staff as senior environment, energy and natural resources advisor and as director of the White House Office of Environmental Policy.
"There is no greater need in our economy for a comprehensive public-private partnership than energy and the environment," said Wallace. "Federal and state governments must establish a workable and well-understood policy and regulatory framework, and the private sector must play its role as investor and innovator. This is particularly true in the area of new nuclear, where a new era of investment is essential if we are going to significantly advance our country's climate change, air quality, grid reliability and energy security priorities.
"This is a pivotal time in our nation's history, and we're both fortunate and pleased to have such a thoughtful and capable energy and environmental leader join our enterprise as we endeavor to help our nation achieve these objectives," Wallace added.
During his service with the federal government, Connaughton worked closely with the president, his Cabinet and the Congress to develop and implement climate change, air pollution and energy security policies. This work led to a series of new mandatory programs, incentives, technology initiatives and public-private partnerships that included bipartisan energy legislation in 2005 and 2007, nearly $90 billion for clean energy technology research and incentives to accelerate commercial deployment of low-carbon technologies such as plug-in hybrid vehicles, renewable fuels, nuclear, solar, wind, and carbon capture and storage from coal power generation. Internationally, Connaughton helped establish a broad series of technology initiatives, the public-private Asia Pacific Partnership on Clean Development and Climate Change, and the Major Economies Leaders Meetings on Energy and Climate, in which Connaughton served as the president's personal representative.
Connaughton also played a leading role in other major initiatives that included new air quality standards, major reductions in air pollution from power plants and diesel vehicles, improved management of public forests, greater conservation on farms, millions of acres of wetlands protection and restoration, cleanup and redevelopment of more than 10,000 abandoned industrial sites, international environmental cooperation agreements, environmental management and performance of federal government operations, and the creation of some of the world's largest and most ecologically diverse marine conservation areas.
Prior to his public service, Connaughton was a partner in the environmental practice group at the law firm Sidley Austin, where he played a leading role in the development and implementation of the ISO 14000 series of international environmental management and performance standards.
Connaughton is a graduate of Yale University and graduated second in his class, magna cum laude, Order of the Coif, from the Northwestern University School of Law. Last year, Northwestern University honored him with its Distinguished Alumni Award. A Maryland native, Connaughton, who is married with two children, grew up in Lutherville and graduated from Loyola High School Blakefield.
About Constellation Energy
Constellation Energy ([ www.constellation.com ]) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $19.8 billion in 2008.
