AKRON, Ohio, Jan. 30 /PRNewswire-FirstCall/ -- In a move to further support succession planning and broaden executive experience, FirstEnergy Corp. today named Charles E. Jones senior vice president, Energy Delivery & Customer Service, and Donald R. Schneider president of FirstEnergy Solutions, the company's competitive subsidiary. The changes are effective February 2, 2009.
"These changes will further enhance our succession plans and broaden the roles and responsibilities of two of our key executives," said Anthony J. Alexander, president and chief executive officer of FirstEnergy. "Over the past few years, Chuck and Donny have taken on many new challenges and leadership responsibilities. I believe their experiences on both the regulated and competitive sides of our business will serve our company well in the future."
Mr. Jones joined the company in 1978 as a substation engineer. He held various positions in engineering before being named president of Ohio Edison's Penn Power subsidiary in 1995. He was promoted to president of the company's Northern Region -- Ohio in 1997, vice president of Regional Operations in 2001, and senior vice president of Energy Delivery & Customer Service in 2003. Since 2007, Mr. Jones has served as president of FirstEnergy Solutions, with responsibility for Retail and Commodity Operations. He received a bachelor of science degree in electrical engineering from The University of Akron and is a Registered Professional Engineer in Ohio. Mr. Jones also completed the Massachusetts Institute of Technology's Reactor Technology Program for Utility Executives.
Mr. Schneider joined the company in 1982 as a power plant technician. He served in a variety of engineering and maintenance positions at the company's power plants, including manager of the Bruce Mansfield Plant, the company's largest coal-fired facility. In 2001, he was named vice president of Fossil Operations and in 2004 he became vice president of Commodity Operations for FirstEnergy Solutions. Since 2007, Mr. Schneider has served as senior vice president, Energy Delivery & Customer Service. He received a bachelor of science degree in electrical engineering from Youngstown State University and is a Registered Professional Engineer in Ohio. Mr. Schneider also completed the Kellogg School of Management's Advanced Executive Program at Northwestern University and the Massachusetts Institute of Technology's Reactor Technology Program for Utility Executives.
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest investor-owned electric system, based on 4.5 million customers served, within a 36,100-square-mile area of Ohio, Pennsylvania and New Jersey.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "believe," "estimate" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Actual results may differ materially due to the speed and nature of increased competition in the electric utility industry and legislative and regulatory changes affecting how generation rates will be determined following the expiration of existing rate plans in Ohio and Pennsylvania, the impact of the PUCO's regulatory process on the Ohio Companies associated with the Electric Security Plan and Market Rate Offer filings, including any resultant mechanism under which rates charged to retail customers may not fully recover the costs of energy supply, or the outcome of any competitive procurement process in Ohio to allow the Ohio Companies to provide energy supply for their customers, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices and availability, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of FirstEnergy's regulated utilities to collect transition and other charges or to recover increased transmission costs, maintenance costs being higher than anticipated, other legislative and regulatory changes, revised environmental requirements, including possible greenhouse gas emission regulations, the potential impacts of the U.S. Court of Appeals' July 11, 2008 decision requiring revisions to the CAIR rules and the scope of any laws, rules or regulations that may ultimately take their place, the uncertainty of the timing and amounts of the capital expenditures needed to, among other things, implement the Air Quality Compliance Plan (including that such amounts could be higher than anticipated or that certain generating units may need to be shut down) or levels of emission reductions related to the Consent Decree resolving the New Source Review litigation or other potential regulatory initiatives, adverse regulatory or legal decisions and outcomes (including, but not limited to, the revocation of necessary licenses or operating permits and oversight) by the Nuclear Regulatory Commission (including, but not limited to, the Demand for Information issued to FENOC on May 14, 2007), the timing and outcome of various proceedings before the PUCO (including, but not limited to the distribution rate cases and the generation supply plan filing for the Ohio Companies and the successful resolution of the issues remanded to the PUCO by the Ohio Supreme Court regarding the Rate Stabilization Plan and the Rate Certainty Plan, including the recovery of deferred fuel costs), Met-Ed's and Penelec's transmission service charge filings with the PPUC, the continuing availability of generating units and their ability to operate at or near full capacity, the ability to comply with applicable state and federal reliability standards, the ability to accomplish or realize anticipated benefits from strategic goals (including employee workforce initiatives), the ability to improve electric commodity margins and to experience growth in the distribution business, the changing market conditions that could affect the value of assets held in FirstEnergy's nuclear decommissioning trusts, pension trusts and other trust funds, and cause FirstEnergy to make additional contributions sooner, or in an amount that is larger than currently anticipated, the ability to access the public securities and other capital and credit markets in accordance with FirstEnergy's financing plan and the cost of such capital, changes in general economic conditions affecting FirstEnergy, the state of the capital and credit markets affecting FirstEnergy, and the risks and other factors discussed from time to time in its SEC filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.
