Energy company PECO announced David Vahos would replace outgoing president and CEO David Velazquez on June 1.
Headquartered in Philadelphia, PECO is the largest electricity and natural gas delivery company in Pennsylvania. Officials said Velazquez announced his retirement after more than 40 years of service in the energy industry. He will step down on July 1. Vahos, a seasoned leader at Exelon, will also join Exelon’s Executive Committee. The company said he brings more than 30 years of financial and operational leadership to the role.
“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,” Mike Innocenzo, Exelon executive vice president and chief operating officer, said. “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 most recently served as senior vice president, chief financial officer and treasurer of Exelon subsidiary Pepco Holdings. A graduate of Villanova University, Vahos has led the financial operations and regulatory strategy for Exelon’s three utilities including Atlantic City Electric and Delmarva Power. Vahos has also served as the chief financial officer and treasurer of Baltimore Gas and Electric.
“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,” Vahos said. “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.”
Velazquez took over as president and CEO in February 2024 and worked at building relationships with local businesses and community organizations while furthering the company’s commitment to its customers.