Constellation Energy Group CEO & President Mayo Shattuck
Kicks Off CEO@Smith for New Academic Year
Sept. 14, 2010 - CEO@Smith kicked off its 2010-11 lineup with Mayo Shattuck,
president and chief executive officer of Constellation Energy Group. Shattuck took
the podium in front of a crowd 300-strong to lecture on the future of energy and
the life of a CEO, and to take questions from the audience.
To set up his discussion of the future of energy, Shattuck began with the past
– namely, revisiting the deregulation energy companies experienced in the late ’90s
(Constellation went through the process in 1999). This deregulation shifted the
culture of energy providers from that of a monopoly to competition, forcing those
energy providers to re-think the energy transmission and distribution.
Shattuck also addressed the measures Constellation Energy has taken to conform
to both state and federal legislation, while simultaneously meeting the demands
of the average consumer. This has included the $150 million construction of a 70-megawatt
wind farm in Garrett County, Md., the first of its kind for the state, and the installation
of more solar panels – both meet consumers’ demands for more renewable energy options.
Additionally, Constellation Energy has implemented the Baltimore Gas & Electric
(BGE) PeakRewards program, a component of the BGE Smart Energy Savers Program. PeakRewards
allows BGE to control energy use during peak hours by cycling back usage through
a thermostat or switch provided free of charge to the consumer. Shattuck billed
it as “a smart meter program within a smart grid.”
Shifting gears, Shattuck anecdotally discussed what it’s like to be the CEO of
a major company. He recalled one evening when he was out to dinner with his wife,
when a man at the restaurant recognized him and engaged him in a scholarly discussion
on energy. At the conclusion, the man smiled and told Shattuck, “I’m glad to know
that you don’t have horns.” Shattuck then went on to discuss how good leadership
can be extremely difficult, giving the evening’s most poignant piece of advice:
“Management is doing things right, but leadership is doing the right thing.”
Constellation Energy Group is a major generator of electricity with a diversified
fleet of generating units strategically located throughout the United States and
Canada, totaling approximately 9,000 megawatts of generating capacity. It retains
approximately 30,000 customers on its retail side, is the largest landowner in Maryland,
as well as its largest employer and the single largest contributor to the United
CEO@Smith is a dynamic speaker series designed to connect our community of students,
alumni, faculty, and staff with leading business practitioners and innovators. The
interactive atmosphere blended with invaluable wisdom from top CEOs provides many
exceptional opportunities throughout the year to learn from industry giants.
Each event is free and open to the public, and takes place at 5:30 p.m. in Frank
Auditorium, Van Munching Hall, at the University of Maryland, College Park.
For more information, visit www.rhsmith.umd.edu/ceos.
Amy Taylor, Office of Marketing Communications