Why Exelon’s CFO is stepping into a new strategy role

Good morning.

At Exelon, one of the nation’s largest utility companies, finance is getting a bigger seat at the strategy table.

Jeanne Jones, the finance chief since 2022 and an almost 20-year veteran of the company, will take on the newly created role of EVP of finance and strategy on Oct.

5, putting her at the center of corporate strategy as electricity demand surges and utilities face mounting pressure to invest without driving up customer bills.

Jones will continue to report to Exelon President and CEO Calvin Butler.

Robert Kleczynski will succeed Jones as CFO and become her direct report.

Kleczynski currently serves as SVP, controller and head of tax.

“Jeanne’s leadership has been instrumental in helping Exelon deliver strong financial performance while maintaining our focus on delivering safe, reliable and affordable service for our customers,” Butler said in a statement .

In her new role, Jones will continue to work “across the business and the energy sector to identify opportunities to deliver value for our customers and shareholders,” he said.

A shift in the CFO’s mandate The move reflects a broader shift in the CFO’s role.

The corporate strategy playbook is increasingly landing on the CFO’s desk.

While finance chiefs have long led capital allocation and investor communication, they’re increasingly expected to help determine where the company places its biggest long-term bets alongside the CEO, Andy West, a senior partner at McKinsey and global co-leader of the firm’s Strategy and Corporate Finance practice, recently told me.

That evolution is particularly relevant in the utility industry, where electricity demand is growing, grids need modernization and companies face mounting pressure to invest while keeping customer bills affordable.

At Exelon, Jones will continue to oversee the company’s financial activities while helping lead integrated strategy efforts focused on trends affecting Exelon, its operating companies and the broader energy industry.