Mayo A. Shattuck III Biography, Age, Height, Wife, Net Worth, Family

Age, Biography and Wiki

Mayo A. Shattuck III is an American businessman and philanthropist. He is the former chairman and chief executive officer of Constellation Energy Group, a Fortune 500 energy company. He is also the former chairman of the board of directors of the Johns Hopkins University and the former chairman of the board of trustees of the Johns Hopkins Hospital. Shattuck was born in 1954 in Boston, Massachusetts. He graduated from Harvard College in 1976 and Harvard Business School in 1980. Shattuck began his career at Alex. Brown & Sons, an investment banking firm, where he worked for 17 years. In 1997, he joined Constellation Energy Group as president and chief operating officer. He was appointed chairman and chief executive officer in 2001. He served in this role until 2012, when he retired. Shattuck is a member of the board of directors of the National Aquarium in Baltimore, the Greater Baltimore Committee, and the Economic Alliance of Greater Baltimore. He is also a member of the board of trustees of the Johns Hopkins University and the board of trustees of the Johns Hopkins Hospital. Shattuck is married to Elizabeth Shattuck and has three children. His net worth is estimated to be around $100 million.

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Mayo A. Shattuck III Height, Weight & Measurements

At 69 years old, Mayo A. Shattuck III height not available right now. We will update Mayo A. Shattuck III's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Who Is Mayo A. Shattuck III's Wife?

His wife is Jennifer W. Budge (m. 1976-1995) Molly George (m. 1997-2014)

Mayo A. Shattuck III Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Mayo A. Shattuck III worth at the age of 69 years old? Mayo A. Shattuck III’s income source is mostly from being a successful . He is from U.S.. We have estimated Mayo A. Shattuck III's net worth , money, salary, income, and assets.

Mayo A. Shattuck III Social Network

Timeline

In 1997, Shattuck married Molly Shattuck (née George), They have three children: Spencer, Wyatt and Lillian. In March 2014, Molly Shattuck said she was separated from her husband. On September 29, 2014, Mayo Shattuck filed for divorce. On November 3, 2014, the Shattucks were officially divorced in Baltimore County, Maryland. Prior to the divorce, Molly Shattuck was charged and convicted of having an inappropriate sexual relationship with a 15-year-old boy.

Nonetheless, general sentiment on Constellation's board was "overwhelmingly" to keep him citing his "imperturbability" amid chaos. Over the following few years, Shattuck steered the company through the global financial downturn, securing funding from Berkshire Hathaway to keep the company afloat while avoiding a buyout from the same company, preserving the independence of Constellation. Finally in April 2011, Exelon corporation announced plans to acquire Constellation Energy. The planned merger drew negative reactions from some but was ultimately approved by regulators and completed in March 2012. After Exelon completed its acquisition of Constellation Energy, Shattuck assumed the new role of executive chairman. Shattuck retired from Exelon on February 28, 2013 but remained on the board as non-executive chairman. As a non-executive chairman less is required of Shattuck, allowing him to shift his focus from many of the daily tasks associated with leading the company.

In 2009, Shattuck released a statement on behalf of Constellation Energy backing a bill named the American Clean energy Security Act of 2009 which limited carbon emissions and promoted green energy generation. Lastly and most notably, Shattuck is an outspoken advocate for American nuclear energy. In particular, Shattuck argues for additional sovereign support in the form of extension of government loan guarantees in the construction of nuclear reactors. Speaking to a Johns Hopkins audience, he stated that

In 1985, Shattuck joined the investment firm Alex. Brown & Sons and was soon after promoted to president and chief operating officer in 1991. There he helped the company move through several challenging mergers and the eventual acquisition of the company by Deutsche Bank. Howard Schultz, chairman and chief executive of Starbucks Coffee, called Shattuck a "brilliant strategist", referring to his time at Alex. Brown. In 1997, Shattuck helped engineer the $1.7 billion merger of Alex. Brown and Sons and Bankers Trust resulting in him becoming a vice chairman of Bankers Trust Corp. and the co-chief executive officer of BT Alex. Brown. During this process, Shattuck was known for advocating on behalf of workers at Alex. Brown and serving as mediator between the executives of the two companies. The new company was acquired by Deutsche Bank two years later, and Shattuck served as chairman of the board of Deutsche Bank Alex. Brown. Shattuck also served as the head of Investment Banking and Private Banking. Shattuck resigned on September 12, 2001 as head of Deutsche Bank Alex. Brown.

On October 26, 2001, Shattuck was appointed president and CEO of Constellation Energy Group, and he was elected chairman of the board in July 2002. Shattuck's early tenure at Constellation was characterized by the objective of refocusing the company on the energy sector by taking actions such as laying off 10% of the company's workers and selling off the company's Boeing 747, transport tanker, real estate assets, and nursing home business. Over the same period, he reversed an existing plan to divide the company with the assistance of Goldman Sachs and restructured the company to force more accountability to management. In response to worsening conditions for American energy companies, Shattuck aimed to refinance Constellation's $5 billion debt load and secure more credit from banks allowing the acquisition of various weaker energy companies going into bankruptcy. Shattuck's decisions were widely considered to be painful at first, but ultimately necessary to turn around and grow Constellation.

Since joining Constellation Energy in 2001, Shattuck focused much of his philanthropy on Johns Hopkins University (JHU). In 2004, he was elected to the board of trustees of Johns Hopkins Medicine. In 2007, he donated $1 million to a new burn unit in the Children's Center at the Johns Hopkins University Hospital. Resulting from this donation, the hospital will construct The Shattuck Family Pediatric Burn Unit, which consists of 205 private treatment rooms. In addition to the rooms for patient care, the burn unit will include facilities used for education of students, fellows, and residents at The Johns Hopkins Hospital. Presently, he serves as co-chair of the JHU Capital Campaign. Shattuck has played a large part in leading this effort to raise funds from donors to support the academic mission of the Johns Hopkins University, especially through the "Rising to the Challenge" campaign.

Maryland began to deregulate electricity in the early 2000s (prior to Shattuck's tenure at Constellation) which would ultimately lift the state's electricity rate price caps. This development coincided with large hurricanes in the southeastern United States reducing natural gas production in 2007. All of this resulted in Baltimore Gas and Electric Company, a regulated utility company subsidiary of Constellation Energy Group, having to raise electricity rates by 72%. Opponents argued that increased revenues from Constellation profits should be used to subsidize utility prices and keep them low. Shattuck himself was scrutinized for contributing $8,000 in the Maryland gubernatorial election. On the other hand, defenders point out that BG&E is legally separated from Constellation and is heavily regulated by the state's Public Service Commission to keep levels of profitability in check. The Maryland General Assembly ultimately put up a temporary measure to limit price increases to 15%.

In 1997, Mayo Shattuck was made trustee of the Seagram Company, Ltd. Shattuck also serves as an independent director at several corporations including:

One such major point of advocacy has been the deregulation of energy markets across the United States. While prior to the 1990s energy was largely distributed by government regulated monopolies, legislation in various states eventually led to competition between energy companies, thus forcing significant change in how energy companies distributed electricity. In 2010, Shattuck spoke before the US Chamber of commerce:

After completing his MBA at Stanford in 1980, Shattuck joined Bain and Co. in San Francisco where he worked with former Massachusetts governor and presidential candidate Mitt Romney. He also held a position at Morgan Guaranty Trust Co.

Mayo Shattuck married Jennifer W. Budge in 1976. The couple had two children, Mayo Shattuck IV and Kathleen Shattuck. They divorced in 1995.

Shattuck's father was "heavily involved in the Boston investment community," and he managed Harvard's endowment and also served as a managing director at one of Boston's most respected institutional money managers. Shattuck's father passed away in 1974.

Mayo A. Shattuck III (born 1954 in Boston, Massachusetts) is an American businessman and philanthropist. He currently serves as non-executive chairman of Chicago-based Exelon Corporation, co-chair of the Johns Hopkins University Capital Campaign and vice chairman of the board of Johns Hopkins Medicine. Shattuck is involved in a number of philanthropic efforts, including those at the Johns Hopkins University, First Tee, and the University of Maryland Baltimore County and is a notable advocate for nuclear power.

Shattuck was born in Boston, Massachusetts in 1954. He attended the Noble and Greenough School in Dedham, Massachusetts. Shattuck received a Bachelor of Arts from Williams College in 1976 and an MBA from Stanford University in 1980. Shattuck graduated as an Arjay Miller Scholar from Stanford Graduate School of Business.