FirstEnergy Corp (FE) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Greetings and welcome to the FirstEnergy Corp First Quarter 2021 Earnings Conference Call. [Operator Instructions]
It s now my pleasure to introduce your host, Irene Prezelj, Vice President, Investor Relations for FirstEnergy Corp. Thank you. Ms. Prezelj, you may begin.
Irene M. Prezelj
Thank you. Good morning everyone and welcome to our first quarter earnings call.
Today we will make various forward-looking statements regarding revenues, earnings, performance, strategies, prospects and other matters. These statements are based on current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those indicated by these statements can be found on the Investors section of our website under the Earnings Information link and in our SEC filings.
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Two employees of the billionaire activist’s firm, Jesse Lynn and Andrew Teno, will join FirstEnergy’s board and serve on committees focused on helping the company improve its compliance and settle litigation, the company said Tuesday. The agreement, which was reported earlier Tuesday by The Wall Street Journal, would expand the board to 14 directors.
Icahn, who hasn’t disclosed his stake size, controls well over 3% of the company’s shares, according to people familiar with the matter. That makes him one of its top five holders with a stake worth over $600 million.
FirstEnergy, based in Akron, Ohio, provides electricity to about six million customers in a handful of states including Ohio, Pennsylvania and West Virginia. It has a market value of more than $19 billion. Last year, the company’s stock sank and it fired several high-ranking executives following an internal review related to government investigations of its potential role in an alleged state-briber
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