Allegheny Power 2014 Annual Report Download - page 10

DEAR SHAREHOLDERS:
In 2014, FirstEnergy’s management team activated its
strategy for achieving more predictable and stable
growth, with an emphasis on expanding the company’s
regulated utility operations and managing risks in
competitive energy markets.
As your company makes solid progress toward achieving
its key objectives of safety, operational excellence and
financial discipline, your Board remains committed to
ensuring that shareholder interests are represented
independently and thoughtfully. Based on our confidence
in your company’s prospects, your Board provided an
annual dividend rate of $1.44 per share in 2014. In
keeping with our historical approach, we will continue to
review the dividend on a quarterly basis.
On behalf of your Board, let me express my sincere
gratitude to Tony Alexander, who will conclude his role as
executive chairman on April 30, 2015, after 43 years with
the company. He also will leave FirstEnergy’s Board of
Directors effective May 1, 2015. Tony became executive
chairman in January of this year following more than a
decade as president and chief executive officer. Under
his commendable leadership, your company has grown
significantly while navigating difficult and unprecedented
challenges.
Tony was succeeded as president and chief executive officer
by Chuck Jones, who also was elected to the company’s
Board of Directors effective in January. Chuck was most
recently executive vice president and president of
FirstEnergy Utilities. I’m confident his thorough knowledge
of the electric industry, keen business judgment and solid
leadership ability will benefit customers, employees and
shareholders in the years ahead.
On a personal note, I would like to thank Catherine A. Rein
and Wes M. Taylor, who are retiring from the Board as of
the 2015 Annual Meeting of Shareholders. The Board is
truly thankful for the leadership and guidance Cathy and
Wes provided during their many years of distinguished
service to FirstEnergy and its shareholders.
I welcome Dr. Jerry Sue Thornton, who was elected to
the Board in March 2015. Jerry Sue is a well-respected
leader, with more than 40 years of experience in higher
education, including her former role as president of
Cuyahoga Community College in Cleveland, Ohio.
Your Board looks forward to your continued trust and
support as we work to enhance the value of your
investment in FirstEnergy.
Sincerely,
George M. Smart, Lead Independent Director
FIRSTENERGY BOARD OF DIRECTORS
8
FIRSTENERGY CORP.
EXECUTIVE OFFICERS*
Anthony J. Alexander
Executive Chairman of the FirstEnergy Corp.
Board of Directors
Charles E. Jones
President and Chief Executive Officer
Leila L. Vespoli
Executive Vice President, Markets and Chief Legal Officer
James H. Lash
President, FirstEnergy Generation
James F. Pearson
Senior Vice President and Chief Financial Officer
Lynn M. Cavalier
Senior Vice President, Human Resources
Michael J. Dowling
Senior Vice President, External Affairs
Bennett L. Gaines
Senior Vice President, Corporate Services and
Chief Information Officer
Donald R. Schneider
President, FirstEnergy Solutions
Steven E. Strah
Senior Vice President and President, FirstEnergy Utilities
K. Jon Taylor
Vice President, Controller and Chief Accounting Officer
* More detailed information on the principal occupation or
employment of each of our executive officers and the principal
business of any organization by which FirstEnergy Executive
Officers are employed may be found on page 142 of this report.
Paul T. Addison
Retired, formerly
Managing Director in the
Utilities Department of
Salomon Smith Barney
(CitiGroup).
Anthony J. Alexander
Executive Chairman of the
FirstEnergy Corp. Board of
Directors.
Michael J. Anderson
Chairman of the Board
and Chief Executive
Officer of The Andersons,
Inc. (diversified
agribusiness).
Robert B. Heisler, Jr.
Retired, formerly Dean
of the College of Business
Administration and
Graduate School of
Management of Kent
State University. Retired
Chairman of the Board
of KeyBank N.A.
Julia L. Johnson
President of
NetCommunications, LLC
(regulatory and public
affairs firm).
Charles E. Jones
President and Chief
Executive Officer of
FirstEnergy Corp.
Donald T. Misheff
Retired, formerly
Managing Partner of the
Northeast Ohio offices of
Ernst & Young LLP.
Ernest J. Novak, Jr.
Retired, formerly
Managing Partner of
the Cleveland office of
Ernst & Young LLP.
Christopher D.
Pappas
President and Chief
Executive Officer of
Trinseo S.A., formerly
Styron LLC (plastics,
latex and rubber
producer).
William T. Cottle
Retired, formerly
Chairman of the Board,
President and Chief
Executive Officer of
STP Nuclear Operating
Company.
Ted J. Kleisner
Retired, formerly
Chairman of the Board
and Chief Executive
Officer of Hershey
Entertainment & Resorts
Company.
Catherine A. Rein
Retired, formerly Senior
Executive Vice President
and Chief Administrative
Officer of MetLife, Inc.
Luis A. Reyes
Retired, formerly Regional
Administrator of the
U.S. Nuclear Regulatory
Commission.
George M. Smart
Lead Independent Director
of the FirstEnergy Corp.
Board of Directors.
Retired, formerly
President of Sonoco-
Phoenix, Inc.
Wes M. Taylor
Retired, formerly
President of TXU
Generation.
Dr. Jerry Sue Thornton
CEO of Dream Catcher
Educational Consulting
(higher education
coaching and professional
development). Retired
President of Cuyahoga
Community College.