Constellation Energy Names Shameek Konar Senior Vice President, Corporate Strategy and Development
BALTIMORE, May 29, 2009 (BUSINESS WIRE) -- Constellation Energy (NYSE:CEG) today announced the appointment of Shameek Konar as senior vice president for corporate strategy and development. His appointment is effective immediately.
Konar, who most recently served as managing director, corporate strategy and development for Constellation Energy Resources, the company's merchant business arm, assumes responsibility for Constellation Energy's corporate strategy and development function, reporting to Mayo A. Shattuck III, chairman, president and chief executive officer of Constellation Energy.
"Shameek recently led the teams responsible for the successful divestitures of our international coal and freight and downstream gas businesses, a significant accomplishment in this challenging market environment," said Shattuck. "His strategic vision and business know-how will be vital as we continue to de-risk our business and realign our business model to position Constellation Energy for strong, stable, long-term growth."
Konar, who joined Constellation Energy in June 2003, succeeds Jonathan W. Thayer, who was recently appointed chief financial officer for Constellation Energy. Konar has served as a managing director in the commodities business, where he managed the company's gas asset portfolio and was involved in the acquisition of a number of properties during his tenure. Most recently, in his role as the strategy lead for the merchant business, he led the divestitures of the company's international coal and freight and downstream gas businesses as part of Constellation Energy's effort to improve its liquidity position and restructure its business mix. Prior to joining Constellation Energy, Konar was a consultant in Accenture's Strategy and Business Architecture group, where he worked on advising merchant energy companies on trading and risk management-related issues. Konar started his career at Putnam, Hayes and Bartlett (subsequently acquired by Hagler Bailly) as an economic consultant in the energy industry, focusing on policy issues around competitive energy markets, asset valuation and financing, as well as preparing companies to function in restructured energy markets.
Konar earned a doctorate in economics and finance from Vanderbilt University and an undergraduate degree in economics from St. Stephen's College in New Delhi, India.
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $19.8 billion in 2008.
SOURCE: Constellation Energy
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