Firstenergy Corp PRE 14A, filed Mar 7, 2023

Firstenergy Corp (FE)

PRE 14A 2023-03-07

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☒		Preliminary Proxy Statement

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☐		Definitive Proxy Statement

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☐		Soliciting Material Pursuant to §240.14a-12
FirstEnergy Corp.
(Name of Registrant as Specified In Its Charter)


(Name of Person(s) Filing Proxy Statement, if other than the Registrant)



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☐		Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.


PROXY STATEMENT SUMMARY		5

CORPORATE GOVERNANCE & BOARD OF DIRECTORS	Corporate Governance and Board of Directors Information	12
	Biographical Information and Qualifications of Nominees for Election as Directors	24
	Board Committees	31
ITEMS TO BE VOTED ON	Items to Be Voted On	35

COMMITMENTS TO EESG	Our Commitment to EESG	46

EXECUTIVE & DIRECTOR COMPENSATION	Executive Compensation	56
	Compensation Committee Report	56
	Compensation Discussion and Analysis	56
	Executive Summary	59
	Compensation Tables	84
	Director Compensation in Fiscal Year 2022	108

OTHER IMPORTANT MATTERS & Q&A ABOUT THE ANNUAL MEETING	Security Ownership of Management	111
	Security Ownership of Certain Beneficial Owners	113
	Compensation Committee Interlocks and Insider Participation	113
	Certain Relationships and Related Person Transactions	114
	Audit Committee Report	117
	Matters Relating to the Independent Registered Public Accounting Firm	118
	Transparency in Corporate Contributions	119
	Questions and Answers about the Annual Meeting	121
	Proxy Materials	121
	Voting Matters	123
	How You Can Vote	125
	Attending the Virtual Annual Meeting	126
	Proposals and Business by Shareholders	127
	Obtaining Additional Information	129

APPENDIX A	Proposed amendment to the Company’s Second Amended and Restated Code of Regulations reducing the percentage required to call a special meeting of shareholders from 25% to 20%.	130


		EESG Priorities:

				EMPLOYEE: Support the development of an inclusive, equitable, rewarding and safe work culture while empowering our diverse and innovative team to make our customers’ lives brighter and our communities stronger

				ENVIRONMENTAL: Protect the environment by minimizing our impact, improving the sustainability of our operations, executing our Climate Strategy and finding opportunities to enhance the ecosystems we interact with

				SOCIAL: Invest in the communities we serve, promote public safety and economic development, and advance equitable and inclusive business practices to enable positive change while delivering superior customer service

				GOVERNANCE: Maintain oversight of significant company issues and strengthen risk management; build a strong, centralized corporate compliance program and culture of ethics and integrity; continue stakeholder engagement efforts and provide consistent, transparent disclosures on EESG topics


Item 1	Elect the 11 nominees named in this Proxy Statement to the Board of Directors (“Board”). Refer to page 35 for more detail.		Item 4	Approve, on an advisory basis, the frequency of future advisory votes to approve named executive officer compensation. Refer to page 38 for more detail.
	✓	Your Board recommends you vote FOR the election of all the nominees listed in this Proxy Statement.		✓	Your Board recommends you vote for a frequency of EVERY YEAR under this item.
Item 2	Ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2023. Refer to page 36 for more detail.		Item 5	Approve an Amendment to the Second Amended and Restated Code of Regulations to Reduce the Percentage of Shares Required to Call a Special Meeting of Shareholders. Refer to page 39 for more detail.
	✓	Your Board recommends you vote FOR this item.		✓	Your Board recommends you vote FOR this item.

Item 3	Approve on an advisory basis named executive officer compensation. Refer to page 37 for more detail.		Items 6 & 7	Shareholder proposals. Refer to pages 40-45 for more detail.
	✓	Your Board recommends you vote FOR this item.		X	Your Board recommends you vote AGAINST these items.



		Letter from Our Chair and Interim President & CEO				John W. Somerhalder, II Chair of the Board and Interim President & CEO


Sincerely,

		John W. Somerhalder, II Chair of your Board and Interim President & CEO



Do you hold shares through a bank, broker or other institution (beneficial ownership)?⁽²⁾

Use the internet at www.proxyvote.com	Call toll-free at 1-800-454-8683	Mail by returning your proxy card/voting instruction form
(2) Not all beneficial owners may be able vote at the web address and phone number provided above. If your control number is not recognized, please refer to your voting instruction form for specific voting instructions.



Jana T. Croom, 46 Independent Director Chief financial officer of Kimball Electronics, Inc.		Steven J. Demetriou, 64 Independent Director Executive board chair of Jacobs Solutions Inc. \| Other public boards 3

Sean T. Klimczak, 46 Independent Director Senior managing director and global head of infrastructure at Blackstone Inc. \| Other public boards 1		Jesse A. Lynn, 52 Independent Director General counsel of Icahn Enterprises LP \| Other public boards 3

Andrew Teno, 38 Independent Director Portfolio manager of Icahn Capital LP \| Other public boards 2		Leslie M. Turner, 65 Independent Director Retired senior vice president, general counsel and corporate secretary of The Hershey Company



		Lisa Winston Hicks, 56 Independent Director Lead Independent Director of FirstEnergy Corp. Retired board chair of MV Transportation, Inc.		Paul Kaleta, 67 Independent Director Retired executive vice president and general counsel at First Solar, Inc.

		James F. O’Neil III, 64 Independent Director Chief executive officer and vice chairman of Orbital Infrastructure Group, Inc. \| Other public boards 1		John W. Somerhalder II, 67 Director Interim President, Chief Executive Officer and Board Chair of FirstEnergy Corp. Previously Vice Chair and Executive Director of FirstEnergy Corp. \| Other public boards 1

		Melvin D. Williams, 59 Independent Director Retired president of Nicor Gas and retired senior vice president of Southern Company Gas



		Independent Oversight		◾ All directors are independent, other than our Board Chair ◾ The positions of Board Chair and Lead Independent Director are held by separate individuals ◾ Board’s three primary standing committees are comprised entirely of independent directors ◾ Independent directors regularly hold executive sessions without management at Board and committee meetings

		Board & Committee Oversight		◾ Your Board and Committees review material risks facing your Company and oversees your Company’s risk management practices ◾ Corporate Governance, Corporate Responsibility and Political Oversight Committee oversees corporate citizenship practices, including the political and lobbying action policy and EESG and sustainability initiatives ◾ Audit Committee provides oversight of, and makes recommendations for implementation of, compliance program enhancements and oversees risks related to financial statements, compliance and cybersecurity regulatory compliance ◾ Compensation Committee oversees the Company’s compensation philosophy, practices and human capital initiatives and focuses on alignment between pay and performance ◾ Safety and Operations Oversight Committee oversees operational strategy including reliability, safety, cybersecurity risks and audits, as well as environmental practices and policies ◾ Prior to its dissolution on December 13, 2022, the Compliance Oversight Sub-Committee of the Audit Committee, comprised of all independent directors and supported by independent counsel, oversaw ethics and compliance program enhancements ; these responsibilities have been assumed by the Audit Committee

		Shareholder Rights & Accountability		◾ Annual election of all directors ◾ Clear, effective process for shareholders to raise concerns to your Board ◾ Majority voting standard for uncontested director elections, with an accompanying Director Resignation Policy ◾ General majority voting threshold ◾ Direct investor relations and governance engagement and outreach to shareholders ◾ Advisory vote to approve named executive officer compensation is held on an annual basis, consistent with the shareholder advisory vote on frequency ◾ Shareholders may nominate directors through proxy access ◾ Shareholders of 25 percent or more shares outstanding and entitled to vote may call a special meeting. Based on your Board’s ongoing review we are seeking shareholder approval at the Annual Meeting to further reduce this threshold to at least 20 percent of the shares of common stock outstanding. ◾ No poison pill

		Board Practices		◾ Goal to maintain at least 30% diverse members (by gender, race and ethnicity combined) for the foreseeable future ◾ Actively seek to include in the director nominee pool with candidates of diverse backgrounds, skills and experience, including highly qualified women and people of color ◾ A robust annual evaluation process, including full Board evaluation, Board committee evaluations and individual director evaluations ◾ Policy requiring directors who reach the age of 72 to tender their resignations to your Board to be effective upon acceptance by the Board. ◾ Corporate Governance, Corporate Responsibility and Political Oversight Committee and full Board engage in rigorous director succession planning ◾ Extensive director orientation and continuing education ◾ Robust stock ownership guidelines ◾ Anti-Hedging and Anti-Pledging Policies



WHAT WE DO	Pay-for-performance ◾ LTIP⁽¹⁾ is 100% at risk, with no solely time-based vesting requirements ◾ STIP is 100% at risk Threshold and caps on incentive awards: ◾ Threshold financial performance hurdle for Operating Earnings must be achieved before any STIP award is paid ◾ Individual STIP awards capped at 200% (consistent with our peer companies) ◾ Individual LTIP awards capped at 200% (consistent with our peer companies) and capped at 100% if absolute Total Shareholder Return (“TSR”) over the performance period is negative Non-overlapping financial performance measures in our STIP and LTIP	Combination of absolute and relative performance goals Robust stock ownership guidelines Clawback policy applicable to financial and reputational harm, and other detrimental activity Mitigate undue risk through compensation design, corporate policies, and effective governance Annual Say-on-Pay vote Double-trigger change in control (“CIC”) provisions Compensation Committee comprised of only independent directors supported by an independent compensation consultant

WHAT WE DON’T DO	No executive hedging or pledging is permitted No employment agreements No excise tax gross-up provisions for our NEOs No excessive perquisites	No repricing of underwater stock options without shareholder approval – stock options are not currently used in plan design No payment of dividend equivalents on unearned awards No payment of cash severance benefits above 2.99x base salary and target STIP


1		Annual Process is Initiated Your Board’s Corporate Governance, Corporate Responsibility and Political Oversight Committee initiated the annual Board, committee and individual director evaluation process and presented the proposed approach to your Board for comment.



2		Board & Committee Assessment, Individual Director Evaluations Each independent director’s opinion was solicited regarding your Board’s and its committees’ effectiveness relating to topics such as ethics and accountability, Board composition and culture, succession planning, and shareholder and stakeholder involvement. In addition, input is obtained from each director as to the performance of the other Board members.




3		Director Self-Assessments Prior to accepting a re-nomination, each director conducted a self-assessment as to whether he or she satisfies the criteria set forth in the Company’s Corporate Governance Policies and the Corporate Governance, Corporate Responsibility and Political Oversight Committee Charter.



4		Presentation of Findings The annual Board, committee and individual director assessments were discussed with your Board, the committees and directors. These discussions focused on certain key themes and priority areas for the Board, including management development, cultural transformation, and continuous improvement.



5		Feedback Incorporated Your Board, committees and directors are committed to continuous improvement and what they learn from this evaluation process is expected to be incorporated in their ongoing work for the Company.
5



		Jana T. Croom Director
	AGE: 46 FirstEnergy DIRECTOR SINCE 2022		STANDING COMMITTEES: Audit; Corporate Governance, Corporate Responsibility and Political Oversight

POSITION, PRINCIPAL OCCUPATION AND BUSINESS EXPERIENCE: Chief financial officer for Kimball Electronics, Inc., a global electronics manufacturing company, since July 2021, after serving as vice president, finance (from January 2021 to July 2021). She previously served as vice president, financial planning and analysis (from August 2019 to January 2021), director of operations planning (from March 2017 to August 2019), and also held a number of roles of increasing responsibility including regulatory, operations and finance at NiSource Inc., a regulated public utility. KEY ATTRIBUTES, EXPERIENCE AND SKILLS: Ms. Croom received her Bachelor of Arts degree from The College of Wooster and a Masters of Business Administration from the Fisher College of Business at The Ohio State University. She is a tenured utility industry finance executive having worked in both the electric and natural gas business. She has acquired extensive and wide-ranging leadership, accounting, audit, financial planning and analysis, investor relations, tax, treasury and governance oversight skills through her former roles. Prior to her roles at Kimball Electronics and NiSource, she also was employed by American Electric Power Co Inc., an investor-owned electric utility, focusing on investor relations, corporate finance and treasury. Ms. Croom’s extensive and wide-ranging leadership, accounting, audit, governance oversight and related skills will make her a valuable member of your Board.



	Steven J. Demetriou Director
AGE: 64 FirstEnergy DIRECTOR SINCE 2017		STANDING COMMITTEES: Finance (Chair); Compensation


		FIRSTENERGY CORP.


		FIRSTENERGY CORP.


Table of Contents


		1		FIRSTENERGY CORP.



	Lisa Winston Hicks Director
AGE: 56 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEES: Compensation; Operations and Safety Oversight



	Paul Kaleta Director
AGE: 67 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEES: Corporate Governance, Corporate Responsibility and Political Oversight (Chair); Compensation



	Sean T. Klimczak Director
AGE: 46 FirstEnergy DIRECTOR SINCE 2022		STANDING COMMITTEES: Compensation; Corporate Governance, Corporate Responsibility and Political Oversight



	Jesse A. Lynn Director
AGE: 52 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEES: Corporate Governance, Corporate Responsibility and Political Oversight; Operations and Safety Oversight



	James F. O’Neil III Director
AGE: 64 FirstEnergy DIRECTOR SINCE 2017		STANDING COMMITTEES: Audit; Compensation (Chair)



	John W. Somerhalder II Director
AGE: 67 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEE: Finance; Operations and Safety Oversight



	Andrew Teno Director
AGE: 38 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEES: Audit; Finance



	Leslie M. Turner Director
AGE: 65 FirstEnergy DIRECTOR SINCE 2018		STANDING COMMITTEES: Audit (Chair); Finance



		Melvin Williams Director
	AGE: 59 FirstEnergy DIRECTOR SINCE 2021		STANDING COMMITTEES: Corporate Governance, Corporate Responsibility and Political Oversight; Operations and Safety Oversight (Chair)

POSITION, PRINCIPAL OCCUPATION AND BUSINESS EXPERIENCE: Retired in 2020 as president of Nicor Gas, a natural gas distribution company and subsidiary of the Southern Company, and senior vice president of Southern Company Gas (positions held since 2015). KEY ATTRIBUTES, EXPERIENCE AND SKILLS: Mr. Williams received his Bachelor of Science degree from the Savannah State University. Prior to his most recent positions, he held progressively more responsible leadership roles including senior vice president, planning and business services at Nicor Gas and vice president and general manager at Atlanta Gas Light Company and Florida City Gas Company. Over 32 years of utility experience that includes sales, marketing, regulatory, and utility operations enables Mr. Williams to provide valuable insight and qualifies him to serve as a member of your Board.



Audit Committee		8 meetings in fiscal year 2022

Leslie M. Turner (Chair) Jana T. Croom * James F. O’Neil III * Andrew Teno * * Financial Experts		The Audit Committee is primarily responsible for assisting your Board with oversight of: ◾ the integrity of the Company’s financial statements, and financial reporting and disclosure controls processes; ◾ adherence to legal, compliance, risk management and regulatory requirements, including oversight of the Company’s Ethics & Compliance Program; ◾ independent auditor’s qualifications, independence, and performance; ◾ the Company’s Enterprise Risk Management function; ◾ performance of the Company’s internal audit function; and ◾ the Company’s systems of internal controls over financial reporting with respect to the accuracy of financial records. Until its dissolution on December 13, 2022, the Audit Committee’s Compliance Oversight Sub-committee (discussed further below) was established to assess and implement changes as appropriate in your Company’s ethics and compliance program. The Audit Committee retains oversight of your Company’s compliance program. The Audit Committee is also directly responsible for the appointment, compensation and retention of, and the oversight of the work and pre-approval of all services provided by the Company’s independent registered public accounting firm. For a complete list of responsibilities and other information, please refer to the Audit Committee Charter available on our website at www.firstenergycorp.com/charters.



Compensation Committee		6 meetings in fiscal year 2022

James F. O’Neil III (Chair) Steven J. Demetriou Paul Kaleta Sean T. Klimczak Lisa Winston Hicks		The Compensation Committee is primarily responsible for: ◾ carrying out the responsibilities delegated by the Board relating to the review and determination of executive compensation; and ◾ provide general oversight of the Company’s compensation philosophy and practices and human capital initiatives. The Compensation Committee also reviews and, if appropriate, makes recommendations to your Board regarding the compensation and benefits of our non-employee directors. To the extent permitted under NYSE listing standards and applicable law, the Compensation Committee is authorized to delegate its responsibilities to one or more sub-committees. For information regarding the role of executive officers and our independent compensation consultant in determining or recommending the amount or form of executive and director compensation, see the CD&A section below. For a complete list of responsibilities and other information, refer to the Compensation Committee Charter available on our website at www.firstenergycorp.com/charters. Effective May 17, 2022, Ms. Hicks and Messrs. Kaleta and Klimczak were appointed to the Compensation Committee.



Corporate Governance, Corporate Responsibility and Political Oversight Committee		7 meetings in fiscal year 2022

Paul Kaleta (Chair) Jana T. Croom Sean T. Klimczak Jesse A. Lynn Melvin D. Williams		The Corporate Governance, Corporate Responsibility and Political Oversight Committee is primarily responsible for: ◾ the Company’s director nominations process, ◾ the Company’s corporate governance policies; and ◾ oversight of the Company’s policies and practices relating to corporate responsibility. The Committee is also directly responsible for oversight of our (i) political activities and practices and (ii) our Company’s corporate citizenship practices and ESG strategy. For a complete list of responsibilities and other information, refer to the Corporate Governance, Corporate Responsibility and Political Oversight Committee Charter available on our website at www.firstenergycorp.com/charters. Effective May 17, 2022, Mr. Kaleta was appointed to and as Chair of the Corporate Governance, Corporate Responsibility and Political Oversight Committee, and Ms. Croom and Mr. Klimczak were appointed to the Corporate Governance, Corporate Responsibility and Political Oversight Committee.



Finance Committee		6 meetings in fiscal year 2022

Steven J. Demetriou (Chair) John W. Somerhalder II Andrew Teno Leslie M. Turner		The Finance Committee is primarily responsible for monitoring and overseeing the Company’s financial resources and strategies, with emphasis on those issues that are long-term in nature. For a complete list of responsibilities and other information, refer to the Finance Committee Charter available on website at www.firstenergycorp.com/charters. Effective May 17, 2022, Mr. Somerhalder and Ms. Turner were appointed to the Finance Committee.



Operations and Safety Oversight Committee		5 meetings in fiscal year 2022

Melvin D. Williams (Chair) Jesse A. Lynn John W. Somerhalder II Lisa Winston Hicks		The Operations and Safety Oversight Committee is primarily responsible for monitoring and overseeing the Company’s significant operating matters relating to the Company’s electric power generation and distribution and transmission operations, together with safety, reliability, environmental strategy, climate change, environmental protection and sustainability, and quality matters relating to such operations. The Operations and Safety Oversight Committee is also responsible for oversight of the Company’s operational cybersecurity risks and audits. For a complete list of responsibilities and other information, refer to the Operations and Safety Oversight Committee Charter available on our website at www.firstenergycorp.com/charters. Effective May 17, 2022, Mr. Williams was appointed as Chair of the Operations and Safety Oversight Committee, and Messrs. Lynn and Somerhalder and Ms. Hicks were appointed to the Operations and Safety Oversight Committee.



Special Board Oversight Committees

Leslie M. Turner (Chair) Jana T. Croom Andrew Teno		Compliance Oversight Sub-committee of the Audit Committee was dissolved effective December 13, 2022. It was primarily responsible for assessing your Company’s corporate ethics and compliance program and overseeing the implementation of recommended enhancements, as appropriate, and such responsibilities have transitioned back to the Audit Committee directly. This sub-Committee met 4 times in fiscal year 2022. Prior to its dissolution effective December 13, 2022, effective May 17, 2022, Ms. Croom was appointed to the Compliance Oversight Sub-committee of the Audit Committee.


Paul Kaleta (Chair) Lisa Winston Hicks Jesse A. Lynn Melvin D. Williams		Special Litigation Committee is authorized to take all actions as it deems advisable, appropriate, and in the best interests of the Company and its shareholders with respect to pending shareholder derivative litigation and demands. This Committee met 17 times in fiscal year 2022.


1	A cross-functional DEI Working Group to develop enterprise-wide action plans and oversee DEI activities across the organization	2	DEI Implementation Teams, consisting of over 250 employees, in each business unit to effectively implement actions tailored to each group’s unique needs



3	Employee Business Resource Groups (“EBRGs”) consisting of approximately 2,700 members to help celebrate our differences and support our recruiting, retention, community and employee development efforts	4	An annual employee engagement survey measuring the connection employees have toward the work, team and organization and examining the factors that influence it




5	Ongoing training, education and dialogue forums on a variety of DEI topics for employees and leaders	6	Continuing to enhance transparency of DEI data, talent processes and measurement of progress in an annual publication to all employees


7	A recruiting strategy that leverages an FE Ambassador Network of over 450 employees to help build a diverse talent pipeline and attract top talent



Talent Management				We have robust processes to support recruiting, career management, succession planning, and employee and leadership development. We focus on transparency, consistency and inclusivity in all of our talent processes. We enhanced our diversity recruiting practices and use labor market availability data to guide our sourcing and recruitment efforts, requiring expanded racial/ethnic diversity on the candidate slates for a broader range of positions. Through our FirstEnergy Ambassador Network, we have increased investment in outreach and support to programs, schools and organizations that provide a pipeline of diverse talent and position FirstEnergy as an employer of choice including $200,000 earmarked to support organizations that focus on racially/ethnically diverse talent. ◾ We have trained over 400 hiring champions and experts across FirstEnergy to participate in diverse interviewing panels and follow a rigorous, behavior-based interview process tied to critical competencies and behaviors that ensures unbiased selection of the best candidate. ◾ This transparency fosters a more robust exchange of information and feedback between employees and leaders and promotes a clearer understanding of career management and development opportunities. Meaningful conversations between leaders and their employees empower employees to take ownership of their careers, build trust, and lead to a more inclusive workplace. ◾ We demonstrated continued agility by successfully facilitating our leadership training programs, talent reviews, recruiting, co-op/intern program and onboarding processes in virtual formats supporting our continued commitment to a more flexible and inclusive work environment.


Mentoring Program				We expanded our mentoring program, which is available to all non-physical workers, by encouraging all high performing, high potential racially/ethnically diverse talent to participate in support of their ongoing development. ◾ This program provides the ability for employees to select a mentor from across the organization. It enhances learning, teamwork and collaboration throughout FirstEnergy, cultivates an environment for professional growth and encourages leaders to guide and prepare colleagues. ◾ Our mentoring program supports the development and retention of employees, increases job satisfaction for mentees and mentors, and facilitates skill and knowledge-sharing across the Company. Since its inception, over 500 people have participated in the formal program, and it continues to grow.



Employee & Leadership Development				We offer multiple leadership and employee development experiences aligned to our core values to build a highly qualified, engaged and diverse leadership pipeline. ◾ Our New Supervisor and Manager Program (“NSM”), designed to provide consistent training and development to new FirstEnergy leaders, graduated 85 participants in 2022. The NSM program has now graduated over 2,400 leaders since its inception in 2008. ◾ The Experienced Leader Program (“ELP”) bridges the development between new supervisors and managers and senior executives by providing development for experienced manager and director-level employees. Through this program, we equip our leadership with the tools to coach and support their teams and ultimately drive FirstEnergy’s long-term success. Since launching ELP in 2020, we have completed three cohort-based programs with more than 75 participants. ◾ In 2022, we launched the inaugural offering of the Aspiring Leader Program tailored for top talent, individual contributors who are ready near-term for a leadership role. This virtual program provides interactive, cohort-based learning sessions on fundamental leadership development topics to prepare participants for a future leadership role. ◾ The Educate to Elevate program provides a pathway to secondary education for employees seeking a 2-or 4-year college degree and is now operational across the FirstEnergy footprint. For the Fall 2022 semester, 46 employees are enrolled to pursue an associate and/or bachelor’s degree. ◾ External partnership with the Center for Creative Leadership^® and BeingFirst^® for senior and executive leadership development.


Workforce Development				We are piloting different apprenticeship models for lineworker and substation electrician positions that will strengthen FirstEnergy’s competitive edge in obtaining high-quality employees. ◾ We continue to identify opportunities to establish community partnerships, which help us recruit a more diverse candidate pool in support of FirstEnergy’s value of Diversity, Equity, and Inclusion. As these partnerships mature both the organizations and FirstEnergy will be able to meet mutually beneficial objectives that serve the greater community.



Reducing GHG Emissions to Achieve Carbon Neutrality by 2050		Enabling the Energy Transition to a Low-Carbon Future

Transitioning away from our two regulated coal plants by 2050		Protecting and enhancing the transmission system to support grid reliability and enable increased renewables and other clean energy trends

Reducing SF₆ emissions from transmission equipment		Building the technologically advanced distribution grid of the future by implementing grid management solutions, smart meters, automation, EV charging infrastructure and other emerging technologies

Electrifying our vehicle fleet		Being innovative and forward-thinking with our coal generation fleet as we explore opportunities to incorporate renewable resources and implement emerging technologies


Named Executive Officer		Current Title
John W. Somerhalder II		Chair of the Board and Interim President and CEO
K. Jon Taylor		Senior Vice President, Chief Financial Officer (“CFO”) and Strategy
Samuel L. Belcher		Senior Vice President, Operations
Hyun Park		Senior Vice President, Chief Legal Officer (“CLO”)
Christine L. Walker		Senior Vice President, Chief Human Resources Officer (“CHRO”) & Corporate Services
Steven E. Strah		Former President and CEO