FirstEnergy Corp. has announced that Brian X. Tierney, the current President and CEO, will take on the additional role of Chair of the Board starting January 1, 2025. The decision was made unanimously by the Board of Directors. Tierney will succeed John W. Somerhalder II, who will continue as a director on the board. Lisa Winston Hicks remains as Lead Independent Director.
Somerhalder commented on the transition: "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." He added that Tierney's leadership would further advance FirstEnergy's strategy.
Lisa Winston Hicks also expressed confidence in Tierney's expanded role: "The Board is confident that combining the CEO and Chair roles will best position the company as it delivers more secure and reliable energy through the execution of its Energize365 capital investment program."
Tierney has been with FirstEnergy since June 2023 as President and CEO. He expressed his commitment to continuing to work closely with the board: "I am honored to serve as Chair and look forward to continuing to partner with the entire Board, including Lisa, who will provide strong independent Board leadership in her ongoing role as Lead Independent Director."
Before joining FirstEnergy, Tierney held significant positions at Blackstone Infrastructure Partners and American Electric Power (AEP). At AEP, he served in various executive roles over 23 years.
FirstEnergy serves customers across several states including Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York through one of the largest investor-owned electric systems in the U.S.
The announcement included a cautionary note about forward-looking statements regarding potential risks and uncertainties faced by FirstEnergy Corp., reminding readers not to place undue reliance on these statements due to possible changes in economic conditions or regulatory developments.
For further information or inquiries:
- News Media Contact: Jennifer Young at (330) 761-4362
- Investor Relations Contact: Karen Sagot at (551) 427-3083