HRP CEO Roberto E. Perez Joins PECO Board of Directors

Rhea-AI Summary

Hilco Redevelopment Partners (HRP) announced that its founder and CEO, Roberto E. Perez, has been appointed to the board of directors for PECO, Pennsylvania's largest electric and natural gas distribution company.

Perez's extensive background in land development and energy infrastructure is expected to enhance PECO's strategic objectives. His notable projects include the transformation of 1300 acres in South Philadelphia into The Bellwether District, and other major redevelopments in Baltimore, Boston, and Alexandria, Virginia.

PECO's leadership expressed confidence that Perez's experience will contribute to their goal of providing sustainable and efficient energy solutions.

Perez will leverage his expertise to support PECO's mission of fostering community, environmental, and economic growth throughout Philadelphia and Pennsylvania.

Positive

• Roberto E. Perez's appointment brings extensive experience in land development and energy infrastructure to PECO.
• Perez has successfully led major redevelopment projects such as The Bellwether District in South Philadelphia.
• HRP's transformation projects have established Perez as a leader in complex redevelopment projects.
• Perez's addition to the board aligns with PECO's focus on sustainable and community-centered development.

Negative

• The press release does not mention any immediate financial benefits or new revenue streams for PECO from Perez's appointment.
• There is a lack of specific, measurable outcomes or targets associated with Perez's new role at PECO.
• The appointment alone may not address any existing operational or financial challenges PECO is facing.

PHILADELPHIA, May 21, 2024 /PRNewswire/ -- Hilco Redevelopment Partners (HRP) today announced the appointment of founder and CEO Roberto E. Perez to the board of directors for PECO, Pennsylvania's largest electric and natural gas distribution company.

Perez brings significant experience with land development and energy infrastructure through HRP's work transforming obsolete industrial assets into modern economic engines, including the redevelopment of 1300 acres in South Philadelphia into The Bellwether District.

"We are pleased to have such an accomplished individual joining PECO's board of directors," said Mike Innocenzo, executive vice president and COO of PECO's parent company Exelon, and chairman of the PECO board. "Mr. Perez brings extensive experience and background that will further diversify our approach to powering a cleaner and brighter future for our customers and communities."

"Mr. Perez's leadership of transformational HRP projects, including the holistic approach to sustainable redevelopment that prioritizes the community, the environment and the economy, is fully aligned with PECO's efforts to support our communities and drive best-in-class experiences for our customers," said Dave Velazquez, president and CEO of PECO and vice-chair of the PECO board.

"I am honored to join PECO's board of directors and support their incredible work as a civic and business leader in Philadelphia and Pennsylvania," Perez said. "Our redevelopment work at The Bellwether District has cemented my belief in the economic and environmental promise of the City and Commonwealth, and I couldn't be prouder to be a part of the team fulfilling that potential."

Guided by Perez's vision and leadership, HRP has built a portfolio of significant transactions, including Tradepoint Atlantic in Baltimore, 776 Summer Street in Boston, and the former Potomac River Generating Station in Alexandria, Virginia, as well as numerous other value-add and opportunistic projects across the United States.

Perez has been instrumental in establishing HRP as an industry leader in complex redevelopment projects, specializing in the acquisition of end-of-life industrial sites and transforming them into modern facilities with bold new futures.

Prior to co-founding HRP, Perez worked at Hilco Real Estate and U.S. Equities Realty. Born in Puerto Rico, he moved to the mainland United States as a teenager and graduated from Lake Forest College. Perez also serves on the board of directors of the Chamber of Commerce of Greater Philadelphia.

About HRP: HRP is a vertically-integrated real estate investment and redevelopment company that re-imagines, remediates, and redevelops obsolete industrial sites by taking a holistic approach to development that prioritizes economic, community, and environmental sustainability. HRP's redevelopment expertise ranges from modern logistics and distribution facilities to innovation campuses and urban, mixed-use projects. HRP strives to transform not only properties but also the areas surrounding them through a comprehensive approach to community engagement, environmental sustainability, and economic development. HRP is part of the international financial services holding company, Hilco Global (www.HilcoGlobal.com), which is headquartered in Northbrook, Illinois (USA).

About PECO: PECO, founded in 1881, is Pennsylvania's largest electric and natural gas delivery company. Headquartered in Philadelphia, PECO delivers energy to nearly 1.7 million electric customers and more than 548,000 natural gas customers in southeastern Pennsylvania. The company's 3,000 employees are dedicated to the safe and reliable delivery of electricity and natural gas as well as enhanced energy management conservation, environmental stewardship, and community assistance. PECO is a subsidiary of Exelon Corporation (Nasdaq: EXC), a Fortune 250 company and the nation's largest energy delivery company, serving more than 10.5 million customers through six fully regulated transmission and distribution utilities.

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SOURCE Hilco Redevelopment Partners

FAQ

Who has been appointed to PECO's board of directors?

Roberto E. Perez, founder and CEO of Hilco Redevelopment Partners, has been appointed to PECO's board of directors.

What experience does Roberto E. Perez bring to PECO?

Roberto E. Perez brings extensive experience in land development and energy infrastructure, including major redevelopment projects in Philadelphia, Baltimore, Boston, and Alexandria.

How might Roberto E. Perez's appointment impact PECO's strategy?

Perez's appointment is expected to enhance PECO's strategic objectives, particularly in sustainable and community-centered development.

What are some notable projects led by Roberto E. Perez?

Notable projects include The Bellwether District in South Philadelphia, Tradepoint Atlantic in Baltimore, 776 Summer Street in Boston, and the former Potomac River Generating Station in Alexandria, Virginia.

How does PECO view Roberto E. Perez's appointment?

PECO's leadership believes Perez's extensive experience will help further diversify their approach to providing cleaner and more efficient energy solutions.

What is PECO's parent company?

PECO's parent company is Exelon.