Mayo A. Shattuck III

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Mayo A. Shattuck III
Born 1954 (age 69–70)
Residence Baltimore, Maryland
Alma mater Williams College
Spouse(s) Jennifer W. Budge (m. 1976; div. 1995)
Molly Shattuck (m. 1997; div. 2014)[1]
Children 5
Website Official website

Mayo A. Shattuck III (born 1954 in Massachusetts) is an American businessman, and former executive chairman of Chicago-based Exelon (which owns BGE) and the Atlanta-based Institute of Nuclear Power Operations.[2]

Early life and education

Shattuck graduated from the Noble and Greenough School in Dedham, Massachusetts and received a Bachelor of Arts from Williams College and an MBA from Stanford University, where he graduated as an Arjay Miller Scholar.

Career

Not much is known about Shattuck's career before joining Alex. Brown & Sons at its San Francisco office, where he played a role in arranging funding for various high-tech clients and public offerings for companies such as Microsoft and America Online. By 1991 he became president and chief operating officer at Alex. Brown, second to future CIA Executive Director A. B. "Buzzy" Krongard.

In 1997, they helped engineer the company's sale to Bankers Trust for $1.7 billion. After Bankers Trust was acquired by Deutsche Bank, Shattuck served as Chairman of the Board of Deutsche Bank Alex. Brown and also served as heads of Investment Banking and Private Banking. Shattuck resigned on September 12, 2001 as head of Deutsche Bank Alex. Brown.[3]

On October 26, 2001, Shattuck was appointed President and CEO of Constellation Energy Group, and was elected Chairman of the Board in July 2002.

While Shattuck was CEO of Constellation Energy, the price of electricity paid by residential customers in the service area of the CEG wholly owned company BGE increased 72% when the temporary electricity rate price caps, which had set the price of electricity below the market price and were instituted with the deregulation of the electric market in Maryland, ended. In 2008, the stock price of Constellation Energy dropped from a $107.97 high to a low of $13.00.[4] Shattuck was paid $15.7 million in 2010. The Maryland governor complained about Shattuck's pay, as did the editorial page of The Baltimore Sun, members of the Maryland Legislature, and some of the largest Constellation shareholders, to no avail. Shattuck chaired the company’s board, the same board that set his pay.[5]

After Exelon completed its acquisition of Constellation Energy, Shattuck assumed the new role of Executive Chairman reporting under Exelon CEO Christopher Crane. Shattuck retired from Exelon on February 28, 2013 [6]

Other affiliations

In 1997, Mayo Shattuck was made trustee of the Seagram Company, Ltd.

Shattuck has several other notable past and current affiliations, including directorships at Gap, Inc and Capital One,[7] positions on several lobbying and policy advocacy organizations (including the Edison Electric Institute, the Nuclear Energy Institute and the Institute of Nuclear Power Operations), board memberships at several educational institutions (Johns Hopkins, Stanford and the University of Maryland) and at The Walters Art Museum in Baltimore.

Personal life

Shattuck was married to Molly Shattuck (née George), his second wife, known for being the oldest Baltimore Ravens cheerleader in NFL history.[8][9][10] They have three children, Spencer, Wyatt and Lillian, and in March 2014, Molly Shattuck said she had separated from Mayo Shattuck.[11] On September 29, 2014, Mayo Shattuck filed for divorce. On November 3, 2014, the Shattucks were officially divorced in Baltimore County.[12]

Shattuck has two children, Mayo IV and Kathleen (Katie), from his first marriage to Jennifer W. Budge.[13][14]

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ http://www.marketwatch.com/quotes/ceg/
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ http://articles.baltimoresun.com/2013-03-15/business/bs-bz-shattuck-leaves-exelon-20130315_1_exelon-constellation-s-ceo-shattuck
  7. ↑ SEC Info - Shattuck Mayo A III - 3 - Capital One Financial Corp - For 10/31/03 - EX-24
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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