Crain’s Headlines: Departed Exelon CEO Gets $7.7M Retirement Package

Crain’s has new details on the golden parachute Exelon executive Anne Pramaggiore will receive following her abrupt resignation from the energy company this week.

The longtime Exelon and Commonwealth Edison exec who is heading for the exit amid a federal probe of the company’s Springfield lobbying practices. Crain's reports she will receive $7.7 million in benefits upon leaving the company. 

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Her promotion last year to CEO of all of Exelon’s utilities — including ComEd’s sister companies in Philadelphia, Baltimore and Washington, D.C. — more than doubled the value of her retirement package.

In other Chicago business news:

Meanwhile, the UAW and General Motors today reached a tentative deal on a new labor contract covering wages and benefits for 46,000 hourly workers. The breakthrough comes after a 31-day national strike against GM — which has had a ripple effect on many Chicago auto-related companies.

No word yet on when the work stoppage will end. It’s currently the longest strike against GM since 1970.

The union will gather in Detroit Thursday morning to decide if it will accept the tentative deal.

And finally, a Boston real estate investor is raising its already sizable bet on Chicago, buying its sixth big downtown office building in five years.

Beacon Capital Partners is under contract to pay around $230 million for the 40-story tower at 190 S. LaSalle St.

The deal signals Beacon's confidence in the Chicago office market. It also helps thaw an ice-cold year for downtown office sales.

Crain’s Headlines is a joint production between WTTW and Crain’s Chicago Business. It airs every Monday through Thursday on the WTTW News program “Chicago Tonight.” 

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