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CHICAGO (AP) _ Electric utility Exelon Corp. announced Tuesday that Corbin McNeill Jr. is retiring this spring as chairman and co-chief executive officer, leaving both positions to John Rowe.

McNeill, who turned 62 this month, already was scheduled to step down as chairman and said it was a good time to also resign his other posts, including director. The moves take effect at the company's annual meeting, scheduled for April 23.

``The company is now at a stage where it will benefit from having a single leader, and the best person for that job is John Rowe,'' the other current co-CEO, McNeill said.

McNeill formerly was chairman of Philadelphia-based Peco Energy, which merged with Chicago's Unicom Corp. in 2000 to become Exelon.

Exelon distributes electricity to approximately 5 million customers in Illinois and Pennsylvania and gas to more than 440,000 customers in the Philadelphia area. It is the nation's largest nuclear-power provider and one of the largest electric utilities, with 2001 revenues of $15.1 billion.

Exelon shares rose 4 cents to $49.71 Tuesday on the New York Stock Exchange.