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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Consolidated Edison Inc | NYSE:ED | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.18 | -1.25% | 92.93 | 94.38 | 92.93 | 94.11 | 1,418,569 | 01:00:00 |
From Apr 2019 to Apr 2024
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By John Kell
Consolidated Edison Inc. (ED) said President and Chief Executive Kevin Burke will retire at the end of 2013, leaving the utility company after a 40-year run.
Mr. Burke, 62 years old, had served in those roles since 2005. He will be succeeded by his colleague John McAvoy, who most recently led ConEd's Orange and Rockland Utilities Inc. subsidiary, a division Mr. Burke also oversaw.
ConEd's new CEO, Mr. McAvoy, first joined the company in 1980 and served in several executive management positions. He serves on several boards, including economic-development efforts in the New York metropolitan area.
ConEd, which serves the New York metropolitan area, has reported weaker profits in the first two quarters of 2013. The company also has requested a base-rate increase totaling more than $400 million for all of its operations, which includes electric, gas and steam. The new rates, if approved by a regulatory agency, could go into effect by 2014.
ConEd shares were up 0.2% at $56.71 in after-hours trading.
Write to John Kell at john.kell@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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