Exelon's controller and tax officer takes over as chief financial officer on 5 October, and the three parts of his new pay package add to exactly $3m

Exelon's next chief financial officer has spent the last six years inside the accounts.

Robert Kleczynski, the company's senior vice president, controller and tax, becomes executive vice president and chief financial officer on 5 October, and becomes Exelon's principal financial officer on the same day. He has held the controller and tax job since June 2023. Before that, from February 2020, he was senior vice president and general tax officer. He is 57.

The filing that says so is a joint one, made by Exelon Corporation and Commonwealth Edison Company at 4.38 on Tuesday afternoon, and it moves five people.

The $3m package

Kleczynski's compensation from 5 October has three declared components. A base salary of $650,000. An annual incentive target of 90 percent of that base, which is $585,000. And a long-term incentive target award valued at $1,765,000, to be granted in 2027, of which two thirds is performance shares and one third restricted stock units.

Those three numbers add to exactly $3,000,000.

The filing does not describe the package that way, and the arithmetic is ours rather than the company's. It is worth saying that the other two packages disclosed on the same page do not land anywhere round. Caroline Fulginiti, who becomes vice president and controller and principal accounting officer on 5 October, is set at a $325,000 base, a 40 percent annual target and a $226,000 long-term award, which sums to $681,000. Andrew Plenge, who becomes ComEd's chief financial officer and treasurer on 1 January, is set at $375,000, 50 percent and $372,000, which sums to $934,500.

The outgoing chief financial officer is not leaving

Jeanne Jones, 47, has been Exelon's executive vice president and chief finance officer, audit and risk since January. She was executive vice president and chief financial officer for the three years before that, and chief financial officer and treasurer of ComEd for the three before that.

On 5 October she takes on corporate strategy and is renamed executive vice president of finance and strategy.

One sentence in the filing does the work of a paragraph: no new compensatory arrangements have been entered into at this time with Ms Jones in connection with her new role. An expanded remit with no new pay arrangement disclosed is worth reading twice, and the document offers no explanation for it.

The other three moves

Michael Innocenzo departs three jobs at once, and the filing gives no date for any of them. He is executive vice president and chief operating officer of Exelon, president and chief executive officer of PECO Energy Company, and a director and board chair of Commonwealth Edison. All three end in 2027 on a date to be determined. He stays in post until then and assists the transition.

At ComEd, Joshua Levin leaves the chief financial officer and treasurer role on 1 January and becomes senior vice president of finance at Exelon. Plenge, who has run ComEd's strategy and energy policy since November 2025 and ran Exelon's investor relations for four years before that, takes his place.

The guidance travels with them

The same document reaffirms two numbers under Regulation FD. Adjusted operating earnings for 2026 stay at $2.81 to $2.91 a share. The expectation for cumulative annualised adjusted operating earnings growth from 2025 to 2029 stays near the top end of the 5 to 7 percent range.

Nothing else in the filing touches the outlook. There is no disagreement disclosed, no family relationship, no related party transaction, and no arrangement or understanding with any other person under which any of the four was appointed.