FirstEnergy Names Three to Vice President Roles

Rhea-AI Summary

FirstEnergy Corp. (NYSE: FE) has announced three key appointments effective December 30: Kelly Gower as VP of Finance and Regulatory for Pennsylvania, Teresa Reed as VP of Finance and Regulatory for New Jersey, and Jeremy W. Hay's promotion to VP of Construction and Design Services. Gower and Reed will oversee financial strategy, budgeting, and regulatory relationships in their respective states, while Hay will manage transmission infrastructure construction and design.

These appointments align with FirstEnergy's new business structure, aimed at bringing decision-making closer to customers. The company serves over 6 million customers across six states and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

Positive

• Implementation of new business structure focused on local customer service improvement
• Strategic strengthening of state-level financial and regulatory leadership
• Internal promotion demonstrating succession planning capabilities

Negative

• None.

Leaders selected to oversee Finance and Regulatory for Pennsylvania and New Jersey; Construction and Design Services

AKRON, Ohio, Dec. 20, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced it has hired Kelly Gower as Vice President, Finance and Regulatory for Pennsylvania and Teresa Reed as Vice President, Finance and Regulatory for New Jersey. In addition, Jeremy W. Hay has been promoted to Vice President, Construction and Design Services. All positions are effective December 30.

As Vice Presidents, Finance and Regulatory, Gower and Reed will be responsible for developing and implementing financial strategy for each state, including budgeting, forecasting and financial planning. They will also oversee relationships with state commissions and staff while leading the development of regulatory strategy in their respective states.

These positions are key roles in FirstEnergy's new business structure, which shifts decision making and service closer to customers. Under this structure, the company expects to foster better execution and customer investment at the local level, making a positive difference in the communities served by FirstEnergy's electric companies. Gower will report to John Hawkins, President, FirstEnergy Pennsylvania and Reed will report to Doug Mokoid, President, FirstEnergy New Jersey.

As Vice President of Construction and Design Services, Hay's responsibilities include overseeing the construction and design of transmission infrastructure to ensure the reliability and efficiency of FirstEnergy's energy delivery systems while meeting operational and financial objectives. Hay has been Acting Vice President of Construction and Design Services since June 2023 and reports to Toby Thomas, Chief Operating Officer.

Kelly Gower Biography
Gower joins FirstEnergy from PPL Electric Utilities, where she has been Director, Financial Planning, Budgeting and Administration since 2022. In this role, her responsibilities included strategic planning, decision-making and business plan implementation to achieve financial goals. Earlier, she was the company's Manager of Regional Work Management, where she led planning and development of workplans and drove operational strategy. Gower began her career as a member of PPL Corporation's financial analysis team in 2004 and served in a series of financial roles across the company and its former competitive subsidiary.

She holds a Bachelor of Science in engineering from Princeton University.

Teresa Reed Biography
Reed joins FirstEnergy from Duke Energy Corporation, where she has been Director, Rates and Regulatory Planning, Rate Design and Pricing Solutions since 2020. In that role, she led rate design, customer renewable offers, pricing strategy and execution for the company's service territory in the Carolinas. She joined Duke Energy in 2008 as a Senior Auditor and held diverse positions in supply chain, compliance and customer solutions & strategy. She began her career at Railinc Corporation, where she progressed through a series of financial roles, ultimately becoming the company's controller.

Reed earned a Bachelor of Arts in government from California State University, a Master of Business Administration from the University of North Carolina, Chapel Hill, and a Juris Doctor from North Carolina Central University School of Law. She is a licensed attorney and certified public accountant in North Carolina. Reed is also a member of the Tenth Judicial District Bar, the North Carolina Bar Association and the American Institute of CPAs.

Jeremy Hay Biography
Hay joined FirstEnergy in 2005 as a Senior Generation Specialist and moved through several leadership positions including Manager, Substation Services; Manager, Transmission Portfolio Management; General Manager, Portfolio Development; and Director, Transmission and Substation Design before being named Acting Vice President, Construction Services and Design in 2023.

Hay earned a Bachelor of Science in electrical engineering technology from the University of Pittsburgh at Johnstown, and he is a licensed professional engineer in Pennsylvania. He is also a supporting member of the FE Ambassador Network and is a leader in his local Cub Scouts.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at firstenergycorp.com and on X @FirstEnergyCorp.

Editor's Note: Professional photos of Gower, Reed and Hay are available for download on Flickr.

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SOURCE FirstEnergy Corp.

FAQ

What changes did FirstEnergy (FE) announce in its leadership structure for December 2023?

FirstEnergy announced three vice president appointments: Kelly Gower as VP of Finance and Regulatory for Pennsylvania, Teresa Reed as VP of Finance and Regulatory for New Jersey, and Jeremy W. Hay as VP of Construction and Design Services, all effective December 30.

How will FirstEnergy's (FE) new business structure affect its operations?

The new structure shifts decision-making and service closer to customers, aiming to improve execution and customer investment at the local level across FirstEnergy's service territories.

What are the responsibilities of FirstEnergy's (FE) new state-level Finance and Regulatory VPs?

The VPs will develop and implement financial strategy, including budgeting, forecasting, and financial planning, while overseeing relationships with state commissions and leading regulatory strategy in their respective states.

What is the scope of FirstEnergy's (FE) current operations in 2023?

FirstEnergy serves more than 6 million customers across six states (Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York) and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.