Calvin Butler steps down from M&T Bank board amid promotion to Exelon CEO

A member of M&T’s board of directors has stepped down from the board after being promoted to president and CEO of a Fortune 500 company. Calvin Butler, of Baltimore, left the board Dec. 31, the same day he took the top spot at Exelon Corp. Exelon is a Chicago-based energy company with about $36.5 billion in annual revenue and 18,000 employees. It operates electric utilities in Illinois, Pennsylvania, Maryland, Delaware, New Jersey and Washington, D.C. He has been an executive with the company for 14 years. Butler was promoted from chief operating officer to president in October. Less than a month later, the company announced he would be the next CEO.