Brian X. Tierney Assumes Role of Chair at FirstEnergy Corp.

Leadership Transition at FirstEnergy Corp.

In a significant development for FirstEnergy Corp. (NYSE: FE), the company's Board of Directors has elected Brian X. Tierney as the new Chair. Tierney, who is also the President and Chief Executive Officer, assumes this additional role effective January 1, 2025, succeeding John W. Somerhalder II.

Sommerhalder, who remains a director on the Board, expressed confidence in Tierney’s leadership, highlighting the positive momentum FirstEnergy has built in recent years. The combination of the CEO and Chair roles is intended to streamline leadership and enhance strategic execution as FirstEnergy advances its Energize365 capital investment program.

Brian X. Tierney: A Strong Background

Brian X. Tierney has been pivotal in leading FirstEnergy since June 2023. His extensive experience in the electric utility sector includes senior leadership roles at Blackstone Infrastructure Partners and American Electric Power (AEP). With over two decades at AEP, Tierney served as Executive Vice President of Strategy, emphasizing financial and operational transformation.

“FirstEnergy is on a path of growth and innovation,” Tierney stated. “I am honored to serve in this new capacity as Chair, working closely with our dedicated Board and leadership team. We are committed to generating value for our shareholders while ensuring reliable energy delivery.”

Moving Forward with Strategy

With the Energize365 program, FirstEnergy aims to enhance its infrastructure and service offerings while adhering to strong safety and reliability standards. This initiative indicates the company's long-term plans to invest more significantly in regulated electric utilities, ultimately improving customer service and operational efficiency.

Lisa Winston Hicks, who remains the Lead Independent Director, echoed the sentiment of the Board’s confidence in Tierney’s capabilities. She underscored the importance of robust governance as they navigate the evolving energy landscape.

FirstEnergy's Ongoing Commitment to Excellence

FirstEnergy is not just focusing on immediate leadership transitions but is also concentrating on its overall strategic direction. The company serves millions of customers and operates one of the nation's largest investor-owned electric systems. Their services span across various states, ensuring they remain a vital component of the regional energy grid.

In sustaining operational excellence, FirstEnergy’s subsidiaries manage approximately 24,000 miles of transmission lines, further solidifying its role as a key player in the energy sector. The company holds a reputation for integrity and reliability, values that are integral to its operational philosophy.

Looking Ahead with Confidence

As Brian Tierney steps into his new role, it represents not only a personal milestone but also a reflection of FirstEnergy's commitment to advancing its mission. Tierney plans to prioritize shareholder value, ensuring that the strategic initiatives align with the expectations of stakeholders, while also preparing the organization for future challenges.

“We will continue driving improvements across our operations and investing in the transition toward sustainable energy solutions,” Tierney added, looking ahead to the opportunities that lie in the evolving energy market.

Frequently Asked Questions

Who is Brian X. Tierney?

Brian X. Tierney is the President and Chief Executive Officer of FirstEnergy Corp., currently elected as the Chair of the Board.

What significant role has Tierney taken on recently?

Tierney has been elected as Chair of the Board, effective January 1, 2025, while continuing as President and CEO.

What is the Energize365 program?

The Energize365 program is FirstEnergy's capital investment initiative aimed at enhancing infrastructure and ensuring reliable energy delivery.

What is FirstEnergy's commitment to customers?

FirstEnergy is dedicated to providing reliable energy services while focusing on operational excellence and safety.

What is the goal of combining the CEO and Chair roles?

The combination aims to streamline leadership and enhance strategic execution for the company’s growth and development.

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