8-KLeadership Changes

FIRSTENERGY CORP 8-K Report, Executive Changes (Sep 21, 2011)

Filed September 21, 2011For Securities:FE

Summary

FirstEnergy Corp. (FE) announced on September 20, 2011, a significant addition to its Board of Directors with the appointment of Christopher D. Pappas. Mr. Pappas, who currently serves as President and Chief Executive Officer of Styron, LLC, brings executive leadership experience to the board. His appointment is effective immediately and he will serve until the 2012 annual shareholder meeting. Mr. Pappas will also be an active participant in the Board's Compensation and Finance Committees. This filing also includes a standard news release as an exhibit and a comprehensive list of forward-looking statements detailing numerous risks and uncertainties that could impact FirstEnergy's future financial performance and operations, including regulatory matters, competition, and economic conditions.

Key Highlights

  • 1Christopher D. Pappas appointed to FirstEnergy Corp.'s Board of Directors, effective immediately.
  • 2Mr. Pappas will serve until the 2012 annual meeting of shareholders.
  • 3He will be a member of the Board's Compensation and Finance Committees.
  • 4Mr. Pappas's appointment is routine and no disclosure is required under Item 404(a) of Regulation S-K.
  • 5An Indemnification Agreement will be entered into with Mr. Pappas, consistent with prior board member agreements.
  • 6The filing includes a news release dated September 20, 2011, as Exhibit 99.1.
  • 7A detailed section outlines numerous forward-looking statements and associated risks affecting the company's business.

Frequently Asked Questions

Christopher D. Pappas is the President and Chief Executive Officer of Styron, LLC. His appointment to the Board of Directors brings his executive leadership experience to FirstEnergy Corp.

Mr. Pappas will serve on the Board's Compensation and Finance Committees.

Mr. Pappas will be compensated for his services on the Board in the same manner as other Board members. No special arrangements were disclosed.

The forward-looking statements highlight a broad range of risks including increased competition, regulatory impacts, the status of the PATH project, economic and weather conditions, energy market prices, financial derivative reforms, legislative and environmental changes, potential litigation, operational challenges, changes in customer demand, integration risks from the Allegheny Energy merger, and general economic uncertainty.