Brian Tierney

Brian Tierney became President and CEO of FirstEnergy in 2023, tasked with restoring the company's reputation and investor confidence following one of the most serious corruption scandals in American utility history. FirstEnergy was implicated in a $60 million bribery scheme involving payments to Ohio politicians — including the then-Speaker of the Ohio House — to secure passage of HB 6, legislation that provided a $1.3 billion bailout for two nuclear power plants. The scandal resulted in criminal charges, executive terminations, a $230 million deferred prosecution agreement, and billions in market value destruction. Tierney, who had previously served as the company's CFO, brings a focus on rebuilding governance, regulatory relationships, and operational execution. FirstEnergy is a large regulated utility serving approximately 6 million customers across five states through 10 electric distribution utilities and transmission operations. The company's transmission business (ATSI, MAIT, and other operating companies within PJM Interconnection) represents a growing and highly valued portion of the portfolio. His key priorities include completing the governance remediation required by the deferred prosecution agreement, executing a $26+ billion capital plan focused on grid modernization and transmission expansion, managing rate cases across multiple state commissions, and rebuilding relationships with Ohio regulators. The data center boom in central Ohio (around Columbus) represents a significant growth opportunity for FirstEnergy's transmission network. Tierney's success in governance restoration, capital execution, and regulatory relationships drives the stock.