FirstEnergy Announces Leadership Changes in Controllers, FirstEnergy Solutions, and FirstEnergy Utilities Groups

^{Published on 2012-09-27 12:16:02 - Market Wire}
 

FirstEnergy Announces Leadership Changes in Controllers, FirstEnergy Solutions, and FirstEnergy Utilities Groups -- AKRON, Ohio, Sept. 27, 2012 /PRNewswire/ --

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AKRON, Ohio, Sept. 27, 2012 /PRNewswire/ -- FirstEnergy Corp. (NYSE: [ FE ]) today announced a series of leadership changes in its Controllers, FirstEnergy Solutions (FES), and FirstEnergy Utilities groups designed to expand roles and responsibilities for key executives as part of the company's succession planning strategy. 

"These changes support our efforts to ensure we have the right organizational structure in place to continue building our leadership talent so we are well positioned for the future," said FirstEnergy President and Chief Executive Officer Anthony J. Alexander.

In FirstEnergy's Controllers Group, Jon Taylor, assistant controller, FirstEnergy Solutions/FirstEnergy Generation, has been promoted to vice president and assistant controller for FirstEnergy, effective Oct. 1, 2012.  He will continue reporting to Harvey Wagner, vice president, controller and chief accounting officer.  Jason Lisowski, manager, Financial Reporting and Technical Accounting, has been promoted to assistant controller, FirstEnergy Solutions/FirstEnergy Generation, succeeding Taylor.

At FirstEnergy Solutions, Kelley Mendenhall, vice president, FirstEnergy Solutions Finance, has been named vice president, FirstEnergy Solutions Strategy and Planning.  Trent Smith, regional president, The Cleveland Electric Illuminating Company (CEI), has been named vice president, Sales and Marketing, FirstEnergy Solutions.  Don Moul, regional president, Ohio Edison, has been named vice president, Commodity Operations, FirstEnergy Solutions.  Mendenhall, Smith and Moul will report to FirstEnergy Solutions President Donald Schneider.

In the FirstEnergy Utilities Group, John Skory, regional president, Pennsylvania Electric Company (Penelec) has been named regional president, CEI.  Scott Wyman, director, Operations Services, Penelec, has been promoted to regional president of the utility, succeeding Skory.  Dave Karafa, regional president, Metropolitan Edison Company (Met-Ed), has been named regional president, Ohio Edison.  Mike Doran, director, Operations Services, West Penn Power, has been promoted to regional president, Met-Ed.  Skory and Karafa will report to Dennis Chack, president, Ohio Operations, and Wyman and Doran will report to Doug Elliott, president, Pennsylvania Operations. 

In addition, Stan Szwed, vice president, Compliance and Regulated Services, and chief Federal Energy Regulatory Commission (FERC) compliance officer, has elected to retire at the end of 2012.  Jim Haney, president, West Virginia Operations, will succeed Szwed.  Holly Kauffmann, vice president, operations, Jersey Central Power & Light, has been promoted to president, West Virginia Operations.  Haney will report to Charles E. Jones, senior vice president and president, FirstEnergy Utilities, and Kauffmann will report to vice president, Utility Operations, Mark Julian. 

These personnel moves are effective Oct. 7, 2012, except where noted.

Biographical information for these executives is available on our website at [ www.firstenergycorp.com/newsroom/news_releases/bios_92712.html ].

FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence.  Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Maryland, Ohio, Pennsylvania, New Jersey, New York and West Virginia.  Its generation subsidiaries control more than 20,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro, pumped-storage hydro and other renewables.  Follow FirstEnergy on Twitter @FirstEnergyCorp.

Editor's Note:  Photographs are available upon request.

Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. 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," "believe," "estimate" 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. Actual results may differ materially due to: the speed and nature of increased competition in the electric utility industry, the impact of the regulatory process on the pending matters before FERC and in the various states in which we do business including, but not limited to, matters related to rates, the status of the PATH project in light of the PJM Interconnection, L.L.C., (PJM) direction to suspend work on the project pending review of its planning process, its re-evaluation of the need for the project and the uncertainty of the timing and amounts of any related capital expenditures, the uncertainties of various cost recovery and cost allocation issues resulting from ATSI's realignment into PJM, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices and availability, financial derivative reforms that could increase our liquidity needs and collateral costs, the continued ability of FirstEnergy's regulated utilities to collect transition and other costs, operation and maintenance costs being higher than anticipated, other legislative and regulatory changes, and revised environmental requirements, including possible GHG emission, water intake and coal combustion residual regulations, the potential impacts of any laws, rules or regulations that ultimately replace CAIR, including CSAPR which was stayed by the courts on December 30, 2011, and the effects of the EPA's MATS rules, the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation including NSR litigation or potential regulatory initiatives or rulemakings (including that such expenditures could result in our decision to shut down or idle certain generating units), the uncertainties associated with the company's plan to retire its older unscrubbed regulated and competitive fossil units, including the impact on vendor commitments  the timing of those deactivations as they relate to, among other things, the Reliability Must Run arrangements and the reliability of the transmission grid, adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the NRC including as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant), issues that could result from the NRC's review of the indications of cracking in the Davis-Besse plant shield building, adverse legal decisions and outcomes related to Met-Ed's and Penelec's ability to recover certain transmission costs through their transmission service charge riders, the continuing availability of generating units, changes in their operational status and any related impacts on vendor commitments, replacement power costs being higher than anticipated or inadequately hedged, the ability to comply with applicable state and federal reliability standards and energy efficiency mandates, changes in customers' demand for power, including but not limited to, changes resulting from the implementation of state and federal energy efficiency mandates, the ability to accomplish or realize anticipated benefits from strategic goals, FirstEnergy's ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins, the ability to experience growth in the distribution business, the changing market conditions that could affect the measurement of liabilities and the value of assets held in FirstEnergy's NDTs, pension trusts and other trust funds, and cause FirstEnergy and its subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated, the impact of changes to material accounting policies, the ability to access the public securities and other capital and credit markets in accordance with FirstEnergy's financing plan, the cost of such capital and overall condition of the capital and credit markets affecting FirstEnergy and its subsidiaries, changes in general economic conditions affecting FirstEnergy and its subsidiaries, interest rates and any actions taken by credit rating agencies that could negatively affect FirstEnergy's and its subsidiaries' access to financing or their costs and increase requirements to post additional collateral to support outstanding commodity positions, LOCs and other financial guarantees, the state of the national and regional economy and its impact on major industrial and commercial customers of FirstEnergy and its subsidiaries, issues concerning the soundness of domestic and foreign financial institutions and counterparties with which FirstEnergy and its subsidiaries do business, the risks and other factors discussed from time to time in FirstEnergy's and its applicable subsidiaries' SEC filings, and other similar factors.  The foregoing review of factors 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 FirstEnergy's 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 current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.

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