FirstEnergy Corp. has announced that they have reached an agreement with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings between the parties. The agreement, effective Aug. 12, 2024, recognizes the substantial actions FirstEnergy has taken to establish a highly effective compliance program and instill a culture of ethics and integrity at every level of the organization.
Brian X. Tierney, President and CEO of FirstEnergy, emphasized that the company, led by a new board of directors and executive team, is a stronger organization today, energized by commitments to stakeholders and well positioned for the future.
FirstEnergy's dedication to integrity, safety, reliability, and operational excellence is evident in its status as one of the nation’s largest investor-owned electric systems, serving 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.
Following this resolution, investors and stakeholders will be keen to see the impact on the company's financial performance in the next reporting period. The market has reacted to these announcements by moving the company's shares 0.3% to a price of $42.32. If you want to know more, read the company's complete 8-K report here.
