Senior Leadership Organizational Announcements Support Succession Planning
May 26, 2020
Chuck Jones remains CEO, Board elects Steven E. Strah as president and Jon Taylor as senior vice president and CFO, and other leadership changes announced
The company today announced a series of senior-level promotions that executes on our succession planning strategy, broadens the experience of key executives, and further positions FirstEnergy for long-term, customer-focused growth. All changes will be effective on May 24, 2020. Steve Strah has been elected by the Board of Directors to serve as president, FirstEnergy Corp. Steve will continue reporting to Chuck Jones, who has been FirstEnergy’s president, chief executive officer and member of the board since 2015. Chuck will continue to serve as CEO and a member of the board. “Our succession planning is focused on developing and selecting leaders who will continue to build a strong and successful company,” Chuck said. “Steve is a strategic and driven leader with a deep understanding of FirstEnergy’s business and the needs of our customers, employees and investors. He is committed to driving our long-term, customer-focused growth plans as well as our mission to be a forward-thinking electric utility, and I look forward to working with him in his new role.” As president, Steve will assume broad operational leadership across the company including FirstEnergy Utilities; Corporate Services and Information Technology; Finance; Product Development, Marketing and Branding; External Affairs; Rates and Regulatory Affairs; and Strategy. Steve began his career with The Illuminating Company in 1984 and served in a variety of utility leadership roles including regional president of Ohio Edison; vice president, Distribution Support; and senior vice president, FirstEnergy Utilities. He was elected senior vice president and chief financial officer in 2018, and in his new role he will continue to have oversight over the company’s Finance organization. |
Jon Taylor has been elected senior vice president and chief financial officer, reporting to Steve. As CFO, Jon will oversee Accounting, Treasury and Investor Relations. He joined FirstEnergy in 2009 from PricewaterhouseCoopers and held key roles in FirstEnergy’s Finance department, including vice president, controller and chief accounting officer.
Since 2018, Jon gained valuable experience while lending his organizational leadership skills to our regulated utility companies, where he served as president, Ohio Operations for a year before being named vice president, Utility Operations, in 2019. |
Bob Reffner has been elected senior vice president and chief legal officer, reporting to Chuck. Bob will continue to lead the Corporate, Legal, Information & Compliance and Real Estate departments and will now oversee Risk & Internal Auditing. He will also oversee efforts to develop the Innovation Center, a new venture focused on cultivating the innovation culture that is key to our future growth and success. Bob joined FirstEnergy in 2007 and was elected senior vice president and general counsel in 2018. |
Ebony Yeboah-Amankwah has been elected vice president, general counsel and chief ethics officer, reporting to Bob. Ebony joined FirstEnergy in 2005 and was named vice president, deputy general counsel, corporate secretary and chief ethics officer in 2018. |
Mary Swann has been elected Corporate Secretary, reporting to Ebony. Mary joined FirstEnergy in 2018 as senior corporate counsel II from Diebold Nixdorf, where she held the role of Vice President, Executive Corporate Counsel and Assistant Corporate Secretary. |
Leadership Changes in FirstEnergy Utilities
John Skory was named vice president, Utility Operations, the position previously held by Taylor. John will report to Sam Belcher, senior vice president and president, FirstEnergy Utilities. He began his career with The Illuminating Company in 1977 and was named president, Ohio Operations in 2019. |
Gary Grant becomes president, Ohio Operations, reporting to John. Gary joined FirstEnergy in 2008 and was named vice president, Customer Service in 2015. |
Michelle Henry has been named vice president, Customer Service, reporting to Sam. Michelle began her career with The Illuminating Company in 1988 and was named director, FERC and State Regulatory Compliance in 2018. |
Jim Myers has been named president, West Virginia Operations, reporting to John. Jim will take over for Holly Kauffman, who is retiring after 36 years of service to the company, and eight years as president of West Virginia Operations. Jim joined FirstEnergy in 1986 and was named director, Operations Services at Penelec in 2019.
Detailed biographical information on the leaders included in this announcement can be viewed here.
|
Forward-Looking Statements: This article includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to “we”, “us”, “our”, and “FirstEnergy” refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management’s intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” “forecast,” “target,” “will,” “intend,” “believe,” “project,” “estimate,” “plan” and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers’ ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers’ demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise. |