8-KLeadership Changes

FIRSTENERGY CORP 8-K Report, Executive Changes (Apr 8, 2009)

Filed April 8, 2009For Securities:FE

Summary

This Form 8-K filing by FirstEnergy Corp. (FE) on April 8, 2009, primarily announces a change in its Chief Financial Officer (CFO) role. Richard H. Marsh, the current Senior Vice President and CFO, has indicated his intention to step down from the CFO position on May 1, 2009, and retire from the company entirely on July 1, 2009. This transition is part of a broader company reorganization and is stated to be without disagreement or dispute. Mark T. Clark, currently Executive Vice President, has been elected to succeed Mr. Marsh as CFO, effective May 1, 2009. Mr. Clark has a substantial history with FirstEnergy, holding various senior roles in strategic planning and operations since 2008, and business development prior to that. The filing confirms Mr. Clark's background and that his election was not subject to any special arrangements or material interests in company transactions. The extensive forward-looking statements section highlights the company's awareness of various market, regulatory, and operational risks that could impact future performance.

Key Highlights

  • 1Richard H. Marsh to step down as Senior Vice President and CFO on May 1, 2009, and retire on July 1, 2009.
  • 2The departure of Mr. Marsh is part of a company reorganization and is not due to any dispute.
  • 3Mark T. Clark, currently Executive Vice President, elected as the new CFO, effective May 1, 2009.
  • 4Mr. Clark has a strong internal background in strategic planning, operations, and business development within FirstEnergy.
  • 5Mr. Clark's appointment was not based on any special agreements or material transactions with the company.
  • 6The filing includes a comprehensive list of forward-looking statements detailing potential risks and uncertainties affecting the company's future performance, including regulatory changes, market conditions, and operational challenges.

Frequently Asked Questions

The main reason for this filing is to announce a change in FirstEnergy's Chief Financial Officer (CFO) position, including the departure of the current CFO, Richard H. Marsh, and the appointment of his successor, Mark T. Clark.

No, the filing explicitly states that Mr. Marsh's decision to step down as CFO and retire was not related to any disagreement or dispute with the company.

Mark T. Clark, age 58, has been with FirstEnergy in various senior roles, including Executive Vice President of Strategic Planning and Operations. He will assume the role of CFO effective May 1, 2009.

Yes, the filing includes an extensive section on forward-looking statements that details numerous potential risks and uncertainties. These cover regulatory and legislative changes, market conditions, operational challenges, environmental regulations, and economic factors that could materially affect the company's future results.