FirstEnergy CEO reviews company strategies, management
Jones discussed the company's focus on regulated growth, including the efforts to ensure reliable service to distribution customers, and the company's Energizing the Future transmission investment program
FirstEnergy Corp President and Chief Executive Officer Charles E. Jones told shareholders today that the company is focused on meeting the energy needs of its customers.
"Our industry continues to change at a rapid pace," Jones said. "But our mission remains the same – producing and delivering safe, reliable, clean and affordable electricity to the customers we are privileged to serve. Those customers count on our product...to bring greater comfort, convenience, safety and productivity to their everyday lives."
Jones discussed the company's focus on regulated growth, including the efforts to ensure reliable service to distribution customers, and the company's Energizing the Future transmission investment program.
"We are building a stronger, more resilient energy system, reinforcing critical components, implementing new technologies that support predictive maintenance and make our system more secure — and that means more reliable service for customers, at a cost they can afford," he said.
"Customers expect their energy to come from clean sources — and we have a good story to tell here as well," Jones said. "Nearly 100 percent of the power we produce this year is expected to come from low- or non-emitting sources."
Jones added that this year the company expects to achieve a 25 percent reduction below 2005 levels of carbon dioxide emissions. He noted that FirstEnergy also offers more than 1,900 megawatts of renewable resources, and is one of the largest providers of wind energy east of the Mississippi River.
Jones said customers also benefit from the company's strong focus on economic development and community support.
"Whether we are partnering with local and regional economic development agencies to bring new jobs and economic growth to our five-state region, or providing charities and community-based organizations with grants and volunteer support, FirstEnergy is doing its part to help improve our region's quality of life. And that's a profound investment in our communities and customers," he said.
The following directors were elected to one-year terms:
· Paul T. Addison, retired managing director of Salomon Smith Barney (Citigroup)
· Michael J. Anderson, chairman and chief executive officer of The Andersons, Inc.
· William T. Cottle, retired chairman, president and chief executive officer of STP Nuclear Operating Company
· Robert B. Heisler, Jr., retired dean of the College of Business Administration and Graduate School of Management of Kent State University and retired chairman of KeyBank N.A.
· Julia L. Johnson, president of NetCommunications, LLC
· Charles E. Jones, president and chief executive officer, FirstEnergy Corp.
· Ted J. Kleisner, retired chairman and chief executive officer of Hershey Entertainment & Resorts Company
· Donald T. Misheff, retired managing partner of the Northeast Ohio offices of Ernst & Young LLP
· Ernest J. Novak, Jr., retired managing partner of the Cleveland office of Ernst & Young LLP
· Christopher D. Pappas, president, chief executive officer and director of Trinseo
· Luis A. Reyes, retired regional administrator of the U.S. Nuclear Regulatory Commission
· George M. Smart, non-executive chairman of the FirstEnergy Board of Directors and retired president of Sonoco-Phoenix, Inc., and
· Dr. Jerry Sue Thornton, chief executive officer of Dream Catcher Educational Consulting and retired president and president emeritus of Cuyahoga Community College