James H. Lash Promoted to President, FirstEnergy Generation
AKRON, Ohio, Jan. 17, 2011 /PRNewswire/ -- James H. Lash of Pittsburgh, Pa., has been promoted to president, FirstEnergy Generation for Akron, Ohio-based FirstEnergy Corp. (NYSE: FE). Lash, who is currently president and chief nuclear officer for FirstEnergy Nuclear Operating Company (FENOC), will assume his new position following completion of the proposed merger of FirstEnergy and Allegheny Energy (NYSE: AYE). In addition, he will remain the chief nuclear officer for the company.
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Lash joined the company in 1989 as Safety Engineering manager for FENOC's Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. He was promoted to plant manager in 1996. Following a stint as a loaned executive with the Institute of Nuclear Power Operations, he became director of Site Operations at FENOC's Beaver Valley Nuclear Power Station in Shippingport, Pa., in 2003 and site vice president in 2005. He was named FENOC senior vice president of Operations in 2007 and to his current position in 2010.
Prior to joining the company, Lash was with Stone and Webster Engineering Corporation. Between 1973 and 1981, he was an officer in the United States Navy, serving on the nuclear-powered guided missile cruisers USS Mississippi and USS Long Beach.
Lash earned a Bachelor of Science Degree from the United States Naval Academy.
The proposed merger of FirstEnergy and Allegheny Energy was announced February 11, 2010, and is expected to close in the first quarter of 2011. It has received approval from the Federal Energy Regulatory Commission, the Virginia State Corporation Commission and the Public Service Commission of West Virginia. Shareholders for both FirstEnergy and Allegheny Energy overwhelmingly approved proposals related to the proposed merger. The companies also have applications pending with the Pennsylvania Public Utility Commission and the Maryland Public Service Commission.
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; and its generation subsidiaries control approximately 13,500 megawatts of capacity.
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS
In addition to historical information, this news release may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Words such as anticipate, expect, project, intend, plan, believe, and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. Forward-looking statements relating to the proposed merger include, but are not limited to: statements about the benefits of the proposed merger involving FirstEnergy and Allegheny Energy, including future financial and operating results; FirstEnergy's and Allegheny Energy's plans, objectives, expectations and intentions; the expected timing of completion of the transaction; and other statements relating to the merger that are not historical facts. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not materially differ from expectations. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements. With respect to the proposed merger, these factors include, but are not limited to: the risk that FirstEnergy or Allegheny Energy may be unable to obtain governmental and regulatory approvals required for the merger, or required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could reduce the anticipated benefits from the merger or cause the parties to abandon the merger; the risk that a condition to closing of the merger may not be satisfied; the length of time necessary to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on merger-related issues; the effect of future regulatory or legislative actions on the companies; and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect. These risks, as well as other risks associated with the merger, are more fully discussed in the joint proxy statement/prospectus that is included in the Registration Statement on Form S-4 (Registration No. 333-165640) that was filed by FirstEnergy with the SEC in connection with the merger. Additional risks and uncertainties are identified and discussed in FirstEnergy's and Allegheny Energy's reports filed with the SEC and available at the SEC's website at www.sec.gov. Forward-looking statements included in this document speak only as of the date of this document. Neither FirstEnergy nor Allegheny Energy undertakes any obligation to update its forward-looking statements to reflect events or circumstances after the date of this document.
SOURCE FirstEnergy Corp.
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