David M. Velazquez

President and CEO

Velazquez is responsible for leadership of Pepco Holdings’ overall performance associated with service reliability, customer satisfaction, financial management, and regulatory and external affairs. Based in Washington, D.C., Pepco Holdings employs more than 4,700 people, owns more than $16.1 billion in assets and generates approximately $4.8 billion in annual revenues. Pepco Holdings serves 2 million customers as the parent company of Pepco, an electric utility serving Washington, D.C., and suburban Maryland; Delmarva Power, an electric and gas utility serving Delaware and portions of the Delmarva Peninsula; and Atlantic City Electric, an electric utility serving southern New Jersey. Pepco Holdings is a recently acquired subsidiary of Exelon Corporation, one of the nation’s leading energy services companies. Exelon is headquartered in Chicago and trades on Nasdaq under the ticker EXC.

Professional History

Velazquez previously served as executive vice president and leader of the power delivery business for Pepco Holdings, Inc. (PHI). He managed over 95 percent of the business and employee base, and was responsible for all utility operations in three states and the District of Columbia including customer care, asset management, operations, smart grid activities, support services, including IT, and four local unions. Velazquez was also responsible for the development of and now leads the successful enterprise-wide strategic vision to improve reliability and customer service for Pepco Holdings.

From 2006 to 2009, Velazquez served as president and CEO of Conectiv Energy, PHI’s competitive merchant energy subsidiary, leading and directing the commercial and operational activities for the company. He served as vice president of strategic planning and chief risk officer of PHI from 2005 to 2006.

Civic Involvement

Mr. Velazquez serves on the boards of a number of educational and community organizations, such as the Maryland Business Roundtable for Education, Trust for the National Mall, Smithsonian’s National Zoo and Conservation Biology Institute Advisory Board, D.C. Policy Center of the Federal City Council, Emeritus Advisory Board of the American Association of Blacks in Energy, and United Way of the National Capital Area. He is also a board member of Southeastern Electric Exchange, Association of Edison Illuminating Companies, and the Greater Washington Board of Trade. In addition, Mr. Velazquez is a member of the Edison Foundation Institute for Electric Innovation Management Committee.

Education

Velazquez holds a bachelor’s degree in engineering from Widener University.