Dive Brief:
- On September 19, Consolidated Edison Inc. (Con Edison) announced that John McAvoy will be its next president and chief executive officer.
- McAvoy will replace current CEO Kevin Burke, who will retire at the end of the year.
- McAvoy, who was previously CEO of Con Edison's Orange and Rockland utility subsidiary, will also become CEO of the Con Edison Company of New York.
Dive Insight:
Burke's retirement comes as Con Edison faces uncertainty in New York. The utility is still under scrutiny from Gov. Cuomo over its emergency response and has been unable to reach an agreement with regulators on a pending rate increase. Burke will stay on as non-executive chairman of the Board during a "transition period." McAvoy will be expected to lead the utility through this period of uncertainty.