Mayo A. Shattuck III
Encyclopedia
Mayo A. Shattuck III is a notable American businessman, and currently Chairman and CEO of Baltimore-based Constellation Energy
.
and received his Bachelor of Arts degree from Williams College
and his Masters in Business Administration degree from Stanford University
, where he graduated as an Arjay Miller Scholar. He has also received an honorary Doctor of Public Service degree from the University of Maryland, Baltimore County.
Not much is known else about Shattuck's career before joining Alex. Brown & Sons
at its San Francisco office, where he played a role in arranging funding for various high-tech clients, and public offerings for companies as Microsoft
and America Online. By 1991 he became president and chief operating officer at Alex. Brown, second to future Central Intelligence Agency
Executive Director A. B. "Buzzy" Krongard.
In 1997, they helped engineer the company's sale to Bankers Trust
for $1.7 billion; after Bankers Trust in turn was acquired by Deutsche Bank
he served as Chairman of the Board of Deutsche Bank Alex. Brown
and, also serving as heads of Investment Banking and Private Banking. Shattuck resigned on September 12, 2001 as head of the Deutsche Bank Alex. Brown.
By October 26, he was appointed President and CEO of Constellation Energy Group
, and was elected Chairman of the Board in July 2002.
While Shattuck was CEO of Constellation Energy, the price of electricity paid by residential customers in the service area of the CEG wholly owned company BGE increased 72% when the temporary electricity rate price caps, which had set the price of electricity below the market price, that were instituted with the deregulation of the electric market in Maryland
ended. In 2008, the stock price of Constellation Energy dropped from a $107.97 high to a low $13.00.http://www.marketwatch.com/quotes/ceg/
.
Shattuck has several other notable past and current affiliations, including directorships at Gap, Inc and Capital One
, positions on several lobbying and policy advocacy organizations (including the Edison Electric Institute
, the Nuclear Energy Institute
and the Institute of Nuclear Power Operations
), board memerships at several educational institutions (Johns Hopkins
, Stanford and the University of Maryland
), and at The Walters Art Museum.
He was also a candidate to take over as National Football League
commissioner after Paul Tagliabue
's retirement, but Roger Goodell
won the job.
Shattuck is married to Molly Shattuck.
Constellation Energy
Constellation Energy, headquartered in Baltimore, Maryland, is an energy producer, trader, and distributor. The company operates over 35 power plants in 11 states under its operating company Constellation Commodities Group and/or Constellation Generation Group...
.
Career
Shattuck graduated from the Noble and Greenough SchoolNoble and Greenough School
The Noble and Greenough School, commonly known as Nobles, is a coeducational, nonsectarian day and boarding school for students in grades seven through twelve. It is located on a campus in Dedham, Massachusetts. The current enrollment of 550 students includes a balance of boys and girls, of whom...
and received his Bachelor of Arts degree from Williams College
Williams College
Williams College is a private liberal arts college located in Williamstown, Massachusetts, United States. It was established in 1793 with funds from the estate of Ephraim Williams. Originally a men's college, Williams became co-educational in 1970. Fraternities were also phased out during this...
and his Masters in Business Administration degree from Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, where he graduated as an Arjay Miller Scholar. He has also received an honorary Doctor of Public Service degree from the University of Maryland, Baltimore County.
Not much is known else about Shattuck's career before joining Alex. Brown & Sons
Alex. Brown & Sons
Alex. Brown & Sons was the first investment bank in the United States, founded by Alexander Brown in 1800 and based in Baltimore, Maryland. The firm was acquired by Bankers Trust in 1997 to form BT Alex...
at its San Francisco office, where he played a role in arranging funding for various high-tech clients, and public offerings for companies as Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
and America Online. By 1991 he became president and chief operating officer at Alex. Brown, second to future Central Intelligence Agency
Central Intelligence Agency
The Central Intelligence Agency is a civilian intelligence agency of the United States government. It is an executive agency and reports directly to the Director of National Intelligence, responsible for providing national security intelligence assessment to senior United States policymakers...
Executive Director A. B. "Buzzy" Krongard.
In 1997, they helped engineer the company's sale to Bankers Trust
Bankers Trust
Bankers Trust was an historic American banking organization. The bank merged with Alex. Brown & Sons before being acquired by Deutsche Bank in 1998.-History:A consortium of banks created Bankers Trust to perform trust company services for their clients....
for $1.7 billion; after Bankers Trust in turn was acquired by Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
he served as Chairman of the Board of Deutsche Bank Alex. Brown
Deutsche Bank Alex. Brown
Deutsche Bank Alex. Brown was the private client services division of Deutsche Bank Securities, the U.S. corporate and investment arm of German banking colossus Deutsche Bank. It is the organization successor to the 200 year-old investment bank Alex...
and, also serving as heads of Investment Banking and Private Banking. Shattuck resigned on September 12, 2001 as head of the Deutsche Bank Alex. Brown.
By October 26, he was appointed President and CEO of Constellation Energy Group
Constellation Energy
Constellation Energy, headquartered in Baltimore, Maryland, is an energy producer, trader, and distributor. The company operates over 35 power plants in 11 states under its operating company Constellation Commodities Group and/or Constellation Generation Group...
, and was elected Chairman of the Board in July 2002.
While Shattuck was CEO of Constellation Energy, the price of electricity paid by residential customers in the service area of the CEG wholly owned company BGE increased 72% when the temporary electricity rate price caps, which had set the price of electricity below the market price, that were instituted with the deregulation of the electric market in Maryland
Maryland Electric Deregulation
Maryland Electric Deregulation is the result of a bill passed in 1999 by the Maryland General Assembly. This bill changed the entire face of the Maryland utility industry.The past several years have seen a flurry of changes in the energy industry in Maryland...
ended. In 2008, the stock price of Constellation Energy dropped from a $107.97 high to a low $13.00.http://www.marketwatch.com/quotes/ceg/
Other affiliations
In 1997, Mayo Shattuck was made trustee of the Seagram Company, LtdSeagram
The Seagram Company Ltd. was a large corporation headquartered in Montreal, Quebec, Canada that was the largest distiller of alcoholic beverages in the world. Toward the end of its independent existence it also controlled various entertainment and other business ventures...
.
Shattuck has several other notable past and current affiliations, including directorships at Gap, Inc and Capital One
Capital One
Capital One Financial Corp. is a U.S.-based bank holding company specializing in credit cards, home loans, auto loans, banking and savings products...
, positions on several lobbying and policy advocacy organizations (including the Edison Electric Institute
Edison Electric Institute
The Edison Electric Institute is the association of United States shareholder-owned electric power companies. Its members serve 95 percent of the ultimate customers in the shareholder-owned segment of the industry, and represent approximately 70 percent of the U.S. electric power industry...
, the Nuclear Energy Institute
Nuclear Energy Institute
The Nuclear Energy Institute is a nuclear industry lobbying group in the United States.- Synopsis :According to its website, the NEI "develops policy on key legislative and regulatory issues affecting the industry. NEI then serves as a unified industry voice before the U.S...
and the Institute of Nuclear Power Operations
Institute of Nuclear Power Operations
The Institute of Nuclear Power Operations , headquartered in the Atlanta suburb of Marietta, GA, is an organization established in 1979 by the U.S. nuclear power industry in response to recommendations by the Kemeny Commission Report, following the investigation of the Three Mile Island Unit 2 event...
), board memerships at several educational institutions (Johns Hopkins
Johns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
, Stanford and the University of Maryland
University of Maryland, College Park
The University of Maryland, College Park is a top-ranked public research university located in the city of College Park in Prince George's County, Maryland, just outside Washington, D.C...
), and at The Walters Art Museum.
He was also a candidate to take over as National Football League
National Football League
The National Football League is the highest level of professional American football in the United States, and is considered the top professional American football league in the world. It was formed by eleven teams in 1920 as the American Professional Football Association, with the league changing...
commissioner after Paul Tagliabue
Paul Tagliabue
Paul John Tagliabue is a former Commissioner of the National Football League. He took the position in 1989 and was succeeded by Roger Goodell, who was elected to the position on August 8, 2006. Tagliabue's retirement took effect on September 1, 2006. He had previously served as a lawyer for the NFL...
's retirement, but Roger Goodell
Roger Goodell
Roger S. Goodell is the Commissioner of the National Football League , having been chosen to succeed the retiring Paul Tagliabue on August 8, 2006. He was chosen over four finalists for the position, winning a close vote on the fifth ballot before being unanimously approved by acclamation of the...
won the job.
Shattuck is married to Molly Shattuck.
External links
- Personal website
- Rosenwald, Michael S. Contrarian Shattuck Took Constellation To the Top, Washington Post, 9 January 2006.
- http://www.cooperativeresearch.org/entity.jsp?entity=mayo_shattuck_iii
- Mayo A. Shattuck III at NNDBNNDBThe Notable Names Database , produced by Soylent Communications, the same entity that produces Rotten, Daily Rotten, Dr. Sputnik's Society Pages and Penny Postcards, is an online database of biographical details of over 36,000 people of note...
- http://www.topix.net/com/ceg
- http://www.baltimoresun.com/news/local/politics/bal-md.rates13mar13,0,4040513.story
- http://www.baltimoresun.com/business/bal-bz.constellation12mar12,0,802807.story
- http://www.baltimoresun.com/business/bal-te.bz.constellation04mar04,0,3203551.story
- http://www.marketwatch.com/quotes/ceg