Current Report
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

March 14, 2007
Date of Report (Date of earliest event reported)

Commission File
Exact Name of Registrant as Specified in Its Charter; State of Incorporation;
IRS Employer
Number
Address of Principal Executive Offices; and Telephone Number 
Identification Number
 
 
 
1-1839
COMMONWEALTH EDISON COMPANY
36-0938600
 
(an Illinois corporation)
 
 
440 South LaSalle Street
 
 
Chicago, Illinois 60605-1028
 
 
(312) 394-4321
 
     
 000-16844  PECO ENERGY COMPANY  23-0970240
   (a Pennsylvania corporation)  
   2301 Market Street  
   Philadelphia, Pennsylvania 19101-8699  
   (215) 841-4000  

 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 




 
 
 
Section 5 — Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


Matthew Galvanoni, principal accounting officer of Commonwealth Edison Company (ComEd), and John F. Young, principal financial officer of PECO Energy Company (PECO), resigned from those positions, respectively, effective as of March 14, 2007. Messrs. Galvanoni and Young retain their other positions with Exelon Corporation (Exelon) and/or its subsidiaries.  The resignations were effected to eliminate interlocking positions Messrs. Galvanoni and Young hold with other public utilities owned by Exelon.  ComEd and PECO are expected to appoint officers to the respective positions in the near future.

* * * * *
 
Forward-Looking Statements
 
This Current Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties.  The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as those discussed in (1) ComEd’s and PECO’s 2006 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18; and (2) other factors discussed in filings with the SEC by ComEd and PECO.  Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Current Report.  ComEd and PECO do not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report.
 



 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 

 
 
COMMONWEALTH EDISON COMPANY
 
 
 
 
 
 
 
/s/ Robert K. McDonald
 
    Robert K. McDonald  
 
 
Senior Vice President, Chief Financial Officer,
 
 
 
Treasurer and Chief Risk Officer
 
       
       
     PECO ENERGY COMPANY  
       
     /s/ Michael Metzner  
     Michael Metzner  
     Vice President and Treasurer  
 March 20, 2007