PHILADELPHIA, PA — PECO, an Exelon company, has announced the retirement of President and CEO David Velazquez, set to take effect on July 1. Velazquez steps down after a remarkable 40-year career in the energy industry, culminating in his time leading PECO since February 2024. Known for his strong ties to Pennsylvania, Velazquez built meaningful connections with local businesses and community organizations during his tenure, furthering PECO’s mission to deliver exceptional service to its customers.
Veteran Exelon leader David Vahos has been named as Velazquez’s successor, with his tenure beginning June 1. Vahos, who will join Exelon’s Executive Committee, brings over 30 years of financial and operational leadership experience. Most recently, he served as senior vice president, chief financial officer, and treasurer at Pepco Holdings, where he oversaw financial operations, regulatory strategy, and major initiatives for Pepco and its sister utilities, including Atlantic City Electric and Delmarva Power.
“David Velazquez has been an extraordinary leader for over four decades, he is also a dear friend. His dedication and vision have been instrumental in shaping the broader energy landscape, bringing a focus on operational excellence and innovation, as well as the importance of being connected to the communities we serve,” said Mike Innocenzo, Exelon’s executive vice president and chief operating officer. “As we wish him well in his next chapter, we are thrilled to welcome David Vahos as the new president and CEO of PECO. David’s technical expertise, strategic vision and inclusive leadership will ensure PECO will continue to innovate, thrive and be a pillar of the greater Philadelphia community.”
Vahos, a Villanova University graduate, expressed his enthusiasm for the opportunity to lead PECO and to return to a region with personal significance. “I am deeply honored to succeed David Velazquez, who has made a lasting impact not only at PECO but across the entire Exelon family of companies. I look forward to returning to the Philadelphia area, where I spent some formative years, and working closely with the more than 3,000 PECO employees to continue delivering the safe, reliable, and efficient service our customers expect — while also advancing our work to strengthen community partnerships, and lead the transition to a cleaner energy future,” Vahos stated.
Beyond his corporate experience, Vahos has been actively engaged in civic and nonprofit efforts, including economic development and education initiatives. He served on the boards of the YMCA and the University System of Maryland Foundation and helped found the Baltimore Chapter of the Association of Latino Professionals for America (ALPFA). Vahos’s professional and community-oriented background positions him to lead PECO with a commitment to innovation and inclusivity.
Under Vahos’s leadership, PECO is expected to build on its legacy of delivering reliable service while driving advancements in cleaner energy solutions and deepening its ties to the Philadelphia community. His appointment is seen as a pivotal step in continuing the company’s mission to serve and support its customers effectively and sustainably.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.