Mayo A. Shattuck III

Mayo A. Shattuck III
Born 1954 (age 61–62)
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 and, later, for having an inappropriate sexual relationship with a 15-year-old boy.[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. ↑ Rulison, Larry (31 December 2001). "Boundless energy: Shattuck relishes steep learning curve at Constellation". Baltimore Business Journal. Retrieved 5 November 2014. A 1995 Baltimore Sun article reported his divorce from his first wife Jennifer after nearly 20 years of marriage and suggested that his busy schedule hampered his family life. Shattuck remarried in 1997 to Molly George Shattuck, who used to be director of the Pikesville Sylvan Learning Center.
  2. ↑ Mallozzi, Vincent (21 October 2012). "Kathleen Shattuck, George Markov". The New York Times. Retrieved 5 November 2014. Her father, who works in Baltimore, is the chairman of Exelon Corp, a Chicago-based utility. He is also chairman of the Institute of Nuclear Power Operations, which is based in Atlanta.
  3. ↑ "Chief Steps Down At Alex. Brown". The New York Times. The New York Times Company. 2001-09-15. Retrieved 2008-01-14.
  4. ↑ http://www.marketwatch.com/quotes/ceg/
  5. ↑ "I'll take Tom, and hold the Mayo". Boston Globe.
  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. ↑ Heil, Emily (5 November 2014). "Former Ravens cheerleader Molly Shattuck arrested, charged with rape of teen". The Washington Post. Retrieved 5 November 2014. Shattuck, an aspiring healthy-lifestyle guru who became the oldest NFL cheerleader when she joined the Ravens’ squad in 2005, faces charges in Delaware, where the incidents involving a 15-year-old boy allegedly occurred.
  9. ↑ Nitkin, Karen (13 March 2014). "Molly's solo act: Newly separated, focus is on new book and raising her family". The Baltimore Sun. Retrieved 5 November 2014. Shattuck, who turned 47 last month, became the oldest NFL cheerleader ever when she made the Ravens squad at age 38. At the time, she was married to Mayo Shattuck, the Constellation Energy CEO who sold the utility to Exelon Corp. in 2012.
  10. ↑ Hellgren, Mike (5 November 2014). "Molly Shattuck Indicted On Charges Related To Sexual Contact With Minor". WJZ-TV. Retrieved 5 November 2014. From her marriage to Mayo Shattuck, a Fortune 500 executive, who is chairman of Exelon, which owns BGE and from gaining celebrity status as the oldest cheerleader in NFL history, earning a spot on the Ravens’ squad at age 38.
  11. ↑ "Molly and Mayo Shattuck separate after 16 years of marriage". The Baltimore Sun. 13 March 2014. Retrieved 5 November 2014.
  12. ↑ Miller, Jayne (7 November 2014). "Shattucks' divorce case quickly resolved, sealed". WBAL-TV. Retrieved 10 November 2014.
  13. ↑ "bio_Shattuck.pdf" (PDF). Exelon Corp. Retrieved 5 November 2014.
  14. ↑ Mallozzi, Vincent (21 October 2012). "Kathleen Shattuck, George Markov". The New York Times. Retrieved 5 November 2014. Kathleen Elizabeth Shattuck, the daughter of Jennifer W. Budge of Carmel, Calif., and Mayo A. Shattuck III of Baltimore, was married Saturday to George Stillanov Markov, a son of Dr. Diana D. Markov and Stilian G. Markov of Sofia, Bulgaria.
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