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 Way.
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.
Amy Taylor, Office of Marketing Communications
Media Relations Manager
About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, online MBA, specialty master's, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.