UPDATE 1-FirstEnergy names new CEO in wake of bribery scandal

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March 8 (Reuters) - Electric utility company FirstEnergy Corp on Monday named Steven Strah as its new chief, after a bribery scandal led to the ousting of former CEO Charles Jones and two other executives in October.

The Akron, Ohio-based utility had fired Jones over the payment of about $4 million to an entity associated with a person who subsequently became a utility regulator.

Strah was appointed as acting chief executive officer in October.

The change at the top comes a month after FE said activist investor Carl Icahn was looking to buy a stake in the energy distributor.

Last year, the power utility had received subpoenas in a $60 million bribery case stemming from a controversial bill to bail out the state's nuclear power plants. [https://reut.rs/38CeDnx ] (Reporting by Rithika Krishna in Bengaluru; Editing by Devika Syamnath)

03/08/2021 12:54

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