Dive Brief:
- FirstEnergy President and CEO Anthony Alexander will step down from those roles effective Jan. 1, though he will remain on as executive chairman of the company.
- Charles Jones will take over as FirstEnergy's new president and CEO, and was also elected to the company's board of directors.
- George Smart, currently chairman of the FirstEnergy board of directors, will be lead independent director during the transition period.
Dive Insight:
Alexander has been with FirstEnergy since its formation. He was elected president of FirstEnergy in 2000, president and chief operating officer in 2001, and president and CEO in 2004. Retaining him in a key leadership role "allows for a smooth transition and truly benefits FirstEnergy," Smart said.
"Tony Alexander's many years of service have helped create the solid company FirstEnergy is today," said Smart. "Under his leadership, the company has grown significantly – both organically and through beneficial mergers and acquisitions – and navigated complex issues such as deregulation and challenging economic conditions."
Charles Jones, who will succeed Alexander, in 2010 was named senior vice president and president of FirstEnergy Utilities, overseeing the company's 10 regulated distribution companies. "His deep knowledge of both our utility and competitive businesses and strong leadership skills will help continue FirstEnergy's growth and support our drive to increase shareholder value," Alexander said.
