Mayo A Shattuck III

Early life and education

Shattuck was born in Boston, Massachusetts in 1954. He attended the Noble and Greenough School in Dedham, Massachusetts. 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.

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.

Career

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.

In 1985, Shattuck joined the investment firm Alex. Brown & Sons. There he helped the company move through several challenging mergers and the eventual acquisition of the company by Deutsche Bank. His time at Alex. Brown impressed other business leaders. Howard Schultz, chairman and chief executive of Starbucks Coffee, called Shattuck a "brilliant strategist."

In 1997, Shattuck helped engineer the $1.7 billion merger of Alex. Brown and Sons and Bankers Trust. 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.

While Shattuck was CEO of Constellation Energy, he reversed an existing plan to divide the company with the assistance of Goldman Sachs. Over the following decade, Shattuck steered the company through the global financial downturn and negotiated a series of mergers and acquisitions which were ultimately cancelled. 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

Other affiliations

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

Previously, he served as co-chairman of the Center for Strategic and International Studies Commission on Nuclear Policy in the United States.

Philanthropy

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 Johns Hopkins University Hospital. Presently, he serves as co-chair of the JHU Capital Campaign.

Outside of JHU, Shattuck is also a trustee of First Tee, an organization focused on bringing "affordable junior golf programs to communities that do not have them, especially in economically disadvantaged areas." He also established the Shattuck family internship at University of Maryland Baltimore County.

Personal life

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

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.