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POM > SEC Filings for POM > Form 8-K on 27-Jan-2014All Recent SEC Filings

Show all filings for PEPCO HOLDINGS INC



Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On January 24, 2014, Joseph M. Rigby, the Chairman, President and Chief Executive Officer of Pepco Holdings, Inc. (PHI), notified the Board of Directors of PHI (the Board) that he intends to step down from his position as President and Chief Executive Officer of PHI at the end of 2014, following the selection of his successor. Thereafter, to assist with the transitioning of his leadership positions, Mr. Rigby will continue to be employed by PHI through May 1, 2015, and will continue to serve as executive Chairman of the Board through the date of PHI's 2015 annual meeting of stockholders.

The non-management members of the Board have undertaken a nationwide search for suitable candidates to replace Mr. Rigby as President and Chief Executive Officer. The candidate search is to be led by Lester P. Silverman, Chairman of the Finance Committee of the Board. The Board has also engaged Russell Reynolds Associates, an executive recruiting firm, to assist it in connection with this executive search process.

On January 27, 2014, PHI issued a press release relating to the announcement that Mr. Rigby intends to step down from his position as President and Chief Executive Officer of PHI, as described in this Current Report on Form 8-K. A copy of this press release has been filed as Exhibit 99 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description of Exhibit

99 Pepco Holdings, Inc. Press Release, dated January 27, 2014

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