BALTIMORE, Oct. 3, 2001 — Constellation Energy Group today announced that Thomas V. Brooks has been named president of Constellation Power Source, the power marketing and risk management arm of Constellation’s merchant energy business. Prior to this appointment, he was Constellation Energy Group’s vice president of business development and strategy.
Brooks succeeds Charles W. Shivery, who had been president and CEO of Constellation Power Source since its inception in 1997. Shivery was promoted to co-president of Constellation Energy Group in October 2000.
“We are excited to name Tom to this position,” said Christian H. Poindexter, chairman and CEO of Constellation Energy Group. “In the four years that he has been involved with our company, Tom has been a vital member of our team.
“From the beginning, I have been impressed with Tom’s depth of knowledge and leadership and decision-making skills,” continued Poindexter. “He is an excellent choice to take over the helm and lead Constellation Power Source into the future.”
In April 2001, Brooks formally joined Constellation Energy Group when he was named vice president of business development and strategy. Prior to that, he was a Goldman Sachs vice president. In that position, he was part of the Goldman Sachs’ team that worked in partnership with Constellation Power Source to develop its energy marketing and trading business.
“It’s a privilege to have the opportunity to lead Constellation Power Source at this point in its history,” said Brooks. “I have a great deal of respect for our people and I’m very optimistic about our team’s ability to continue our record of growth. We have the raw material and the vision to take this company to the next level, making it one of the leaders in the merchant energy sector.”
Brooks has more than 12 years of experience in the merchant energy business. Before joining Goldman Sachs in 1997, he was a director at Enron Capital & Trade Resources, where he served in a variety of roles within Enron’s energy marketing and trading business unit in North America and Europe. Brooks joined Enron in 1992, when the company bought AERX, Inc., a firm in which he was a founding partner in 1989 that specialized in emissions credit trading under the Clean Air Act.
Raised in the Boston area, Brooks holds a bachelor’s degree from Yale University and a master’s degree from Yale School of Organization and Management.
Brooks and his wife, Jean, reside in Baltimore with their three sons.
Constellation Energy Group is a holding company that has energy-related businesses focused mostly on power marketing, generation and portfolio management, plus Baltimore Gas and Electric Company, which provides service to more than 1.1 million electric customers and nearly 600,000 natural gas customers in Central Maryland. Constellation Energy Group reported combined revenues of $3.9 billion and assets of $12.4 billion in 2000.
Constellation Energy Group recently announced that it intends to separate its wholesale merchant energy and retail energy businesses into two stand-alone, publicly traded companies as soon as all required approvals have been obtained. The separation is expected to occur late this year.