ComEd 2001 Annual Report Download - page 11

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Conclusion
The California energy crisis and the Enron collapse, as well as the slow development of retail competition and delays
in the establishment of regional transmission organizations (RTOs), have raised the question of whether the
United States should continue to restructure the electric industry. To be very clear, it remains our firm belief that
market-oriented restructuring of the electric industry is the best opportunity to provide consumer benefits and to
develop reliable new sources of supply.The regulated monopoly regime simply does not provide the correct economic
incentives for a company to provide electric service efficiently. We should—and will—continue to move forward in
restructuring the electricity industry in the United States.
We are proud of what we have accomplished in our first year as a company and look forward to building on these
achievements as we strive to provide even more value to our shareholders in the future. This is an exciting industry
with tremendous opportunity—and Exelon is poised to take advantage of those opportunities.
Corbin McNeill announced in February of 2002 his plans to retire from Exelon at the conclusion of this year’s annual
meeting. Under Corbin’s stewardship, PECO became a great company. Together, we have made significant progress
toward completing the integration of PECO and Unicom under the Exelon banner. The Board is grateful for Corbin’s
leadership and contributions. I look forward to the 2002 annual shareholders meeting on April 23, 2002, at which
I become the Chairman and Chief Executive Officer of Exelon.
John W. Rowe
President and Co-Chief Executive Officer
March 1, 2002
A Special Message from Corbin A. McNeill, Jr.
In February I announced my plans to retire from Exelon at the conclusion of this year’s annual meeting
on April 23. At that time John Rowe will become the Company’s chairman and sole chief executive
officer.The Company is now at a stage where it will benefit from having a single leader and John is the
best person for that job. Since I was already scheduled to step down as Chairman this spring, I believe
this a good time for me to also step down as Co-CEO and as a member of your Board of Directors.
One of the proudest accomplishments of my career was bringing together two outstanding companies— PECO
Energy and Unicom. The future holds tremendous opportunities for Exelon and I am confident that it will grow to
become one of America’s premier companies.
I want to thank you, the owners of our Company, for the confidence you have shown in me. I am proud to have served
as your Chairman and it is my wish that all of you have a prosperous future with Exelon.
Corbin A. McNeill, Jr.
Chairman and Co-Chief Executive Officer
March 1, 2002
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