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Mayo A. Shattuck III

Chairman; Independent Director since 2012

​​​​​​Mayo Shattuck is Chairman of Chicago-based Exelon Corporation, a Fortune 100 energy company with the largest number of utility customers in the U.S. and operations in 48 states, the District of Columbia and Canada. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 32,700 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100.​


Professional History

Prior to joining Exelon, Shattuck was the Chairman, President and Chief Executive Officer of Constellation Energy, a position he held from 2001 to 2012. Constellation Energy was a Fortune 200 company that owned energy-related businesses, including a wholesale and retail power marketing and merchant generation business in North America. It also operated the Baltimore Gas and Electric Company. Shattuck was previously at Deutsche Bank, where he served as Chairman of the Board and CEO of Deutsche Banc Alex. Brown and, during his tenure, served as Global Head of Investment Banking and Global Head of Private Banking.

From 1997 to 1999, he served as Vice Chairman of Bankers Trust Corporation, which merged with Deutsche Bank in June 1999. From 1991 until 1997, Shattuck was President and Chief Operating Officer and a Director of Alex. Brown Inc., which merged with Bankers Trust in September 1997.

While Chairman and CEO of Constellation Energy and Executive Chairman of Exelon, Shattuck served as Chairman of the Board of the Institute of Nuclear Power Operations (INPO) and is a member of the Executive Committee of the Board of Edison Electric Institute (EEI) and the Nuclear Energy Institute (NEI).  He was also Co-Chairman of the Center for Strategic & International Studies (CSIS) Commission on Nuclear Policy in the United States and Executive Committee member of the Council on Competitiveness.  

Shattuck currently serves on the Board of Directors for Gap Inc. (GPS) and is Chairman of its Audit and Finance Committee (since 2002).  He also serves as a Director for Capital One Financial Corporation (COF), where he is Chairman of its Compensation Committee (since 2004). He is also a member of the Board of Directors for (ALRM).


Civic and Charitable Commitment

Shattuck is Vice Chairman of the Board of Trustees of Johns Hopkins Medicine, Board member at Johns Hopkins University and John Hopkins Health Systems. Shattuck co-chairs Johns Hopkins $5 Billion capital Campaign, Rising to the Challenge, and Chairs the Nominating Committee. He served as Chairman of the Board of Visitors of the University of Maryland, Baltimore County (from 2004 to 2016). He is the past Chairman of the United Way of Central Maryland (UWCM) campaign and is on the national board of The First Tee. He has previously served on many other non-profit boards, Stanford Business School’s Advisory Council, Gilman School, the Walters Art Museum and the U.S. Ski Team Foundation.

Education and Family

Shattuck was born in 1954 in Massachusetts and received his Bachelor of Arts degree from Williams College and his master’s degree in business administration from Stanford University, where he graduated as an Arjay Miller Scholar. Shattuck has received an honorary Doctor of Public Service degree from the University of Maryland, Baltimore County. 

Shattuck has five children; Mayo IV, Katie, Spencer, Wyatt and Lillian.

Awards and Recognition

Shattuck has been widely recognized for his civic and professional leadership. Among his awards, he has received Loyola University’s Business Leader of the Year; Ernst & Young’s Master Entrepreneur of the Year, and Noble & Greenough’s Distinguished Graduate Award. He has also received the Boy Scouts Distinguished Citizen Award, and was named the United Way of Central Maryland’s Philanthropist of the Year.
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