With a $44 billion market valuation and a price close to its 52-week high, Exelon Corporation (NASDAQ:EXC), the biggest utility business in the country, announced today that David DeWalt has joined its board of directors with immediate effect. DeWalt is the founder and CEO of NightDragon, a cybersecurity and venture capital business, and is known for his leadership in the field.
DeWalt brings a plethora of technological and security experience to Exelon, having held high-level roles at FireEye, Inc. and McAfee, Inc. It is anticipated that his experience will strengthen the company’s emphasis on creating an intelligent energy infrastructure and safeguarding consumer data in the face of a rapidly evolving technology landscape. With a 15.6% year-to-date return, Exelon has shown significant momentum, indicating investor confidence in the company’s strategic future, according to InvestingPro data.
Calvin Butler, President and CEO of Exelon, highlighted the significance of DeWalt’s position, saying that his expertise will be crucial in guaranteeing the security of the business’s operations and client data as they modernize their systems.
Among DeWalt’s many accomplishments are her membership on the Board of Directors of Delta Airlines and her service on the National Security Telecommunications Advisory Committee (NSTAC) throughout four U.S. administrations. He graduated from the University of Delaware with a Bachelor of Science in Computer Science and a Ph.D. in Computer and Information Science and Support Services.
Over 10.7 million consumers receive electricity from Exelon, a Fortune 200 corporation, through its six regulated transmission and distribution utilities, which bring in $23 billion annually. Through energy supply, worker development, and volunteerism, the company’s more than 20,000 employees are dedicated to supporting the community. Notably, according to InvestingPro’s study, the firm has demonstrated exceptional financial stability by continuing to pay dividends for 55 years in a row. Investors may obtain the whole Pro Research Report, which is only accessible to InvestingPro subscribers, for in-depth insights and thorough analysis.
This board nomination coincides with Exelon’s ongoing efforts to manage the difficulties posed by the utility industry’s quickly changing technological landscape.
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