#United States #FirstEnergy Corp #Akron #Brian Tierney #John Somerhalder

FirstEnergy's New Leadership

In a significant shift in leadership, FirstEnergy Corp. has announced that Brian X. Tierney, who currently serves as President and Chief Executive Officer, will also take on the role of Chair of the Board effective January 1, 2025. This unanimous decision from the Board of Directors highlights the confidence they have in Tierney's leadership capability, especially given the ongoing transformation within the company.

Previously, John W. Somerhalder II held the position of Chair but will remain on the Board as a director, ensuring a smooth transition and continuity in governance. Lisa Winston Hicks will retain her position as the Lead Independent Director, a role crucial for maintaining the independence of the Board as they embark on this new chapter.

A Time for Change

The decision to elevate Tierney to the chair position comes at a time when FirstEnergy is experiencing substantial change. Over recent years, the organization has made impressive strides in financial performance, operational improvements, and cultural transformation. Somerhalder acknowledged this momentum, stating, "Over the last several years, FirstEnergy has made tremendous progress on its financial, operational and cultural transformation, and this is the right time for Brian to take on the additional role of Chair."

The Board believes that combining the roles of CEO and Chair will best position FirstEnergy to execute its ambitious Energize365 capital investment initiative, which is fundamental to enhancing energy security and reliability. Hicks affirmed this sentiment, expressing confidence that Tierney’s exemplary leadership will continue to advance the company’s strategic objectives.

Brian Tierney’s Background

Since joining FirstEnergy, Tierney's contributions have been vital. He stepped into the CEO role on June 1, 2023, after a long and successful tenure at American Electric Power (AEP), where he served for more than two decades in various senior leadership roles. Most recently, he has been recognized for his time as Executive Vice President of Strategy, marking him as a fit choice for overseeing FirstEnergy's future direction.

Reflecting on his new role, Tierney expressed his gratitude and commitment to the company: "FirstEnergy is a stronger organization thanks to the work our dedicated team is doing to shape our future as a premier electric company. I am honored to serve as Chair and look forward to continuing to partner with the entire Board."

Looking Forward

As FirstEnergy moves forward, the leadership dynamics are geared towards strengthening the company's operational foundation and delivering enhanced value to shareholders. Tierney aims to foster a culture of continuous improvement while navigating the existing challenges, including government investigations and market fluctuations. With his extensive background in the energy sector and strategic vision, he is poised to guide the company towards success.

The transition also marks a pivotal moment for FirstEnergy as it positions itself to capitalize on emerging opportunities within the energy transition sphere, a key area of interest for many utility companies today. As they implement their strategies, all eyes will be on how the leadership changes will translate into actual outcomes for the company and its stakeholders.

In conclusion, this strategic move, placing Brian X. Tierney as Chair of the Board not only signifies the Board’s trust in his capabilities but also illustrates FirstEnergy's commitment to accelerating improvements and innovations critical for the future of energy in the regions they serve.