FirstEnergy Names Two to Vice President, Finance and Regulatory Roles for West Virginia/Maryland and Ohio

Rhea-AI Summary

FirstEnergy Corp. (NYSE: FE) has announced two key appointments to strengthen its financial and regulatory leadership. Arsalan Azarsa will serve as Vice President, Finance and Regulatory for West Virginia and Maryland starting February 10, while Kevin Keller will take the same role for Ohio beginning February 24.

These appointments align with FirstEnergy's new business structure, which aims to bring decision-making and service closer to customers. Both executives will be responsible for developing financial strategies, including budgeting, forecasting, and financial planning, while overseeing relationships with state commissions.

Azarsa joins from Vicinity Energy with over three decades of experience at Pepco Holdings. Keller comes from American Electric Power (AEP), where he served as Director of Financial Forecasting. Both executives bring extensive utility industry experience and are Certified Public Accountants.

Positive

• Strategic restructuring to improve local customer service and decision-making
• Strengthening of financial and regulatory leadership with experienced industry professionals

Negative

• None.

AKRON, Ohio, Feb. 4, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced it has hired Arsalan Azarsa as Vice President, Finance and Regulatory for West Virginia and Maryland, effective February 10, and Kevin Keller as Vice President, Finance and Regulatory for Ohio, effective February 24. In these roles, Azarsa and Keller will be responsible for developing and implementing financial strategy for their respective states, including budgeting, forecasting and financial planning, and will oversee relationships with state commissions and staff while leading the development of state regulatory strategy.

These positions support FirstEnergy's new business structure, which shifts decision making and service closer to customers to foster better execution and customer investment at the local level. Azarsa will report to Jim Myers, President, FirstEnergy West Virginia and Maryland. Keller will report to Torrence Hinton, President, FirstEnergy Ohio.

Wade Smith, President, FirstEnergy Utilities: "Making wise investments in our system to provide our customers and communities with safe, reliable and cost-effective electricity is a responsibility that FirstEnergy takes very seriously. With their strong financial acumen, regulatory knowledge, strategic planning and analysis expertise and utility industry experience, Arsalan and Kevin will be key leaders as we upgrade our electric systems to benefit residents and businesses in West Virginia, Maryland and Ohio."

Arsalan Azarsa Biography
Azarsa joins FirstEnergy from Vicinity Energy, the largest U.S. provider of district energy solutions, where he has served as Regional Director of Finance and Accounting since 2022. In this role, he directed all finance activities for the company's south region, including accounting, budgeting, forecasting, financial reporting and analysis and billing.

Prior to Vicinity, Azarsa spent over three decades with Pepco Holdings, an Exelon Company, progressing through a number of leadership roles in accounting and finance before serving in director roles for Financial Operations, Enterprise Risk Management and Regulatory Affairs.

Azarsa holds a Bachelor of Science in accounting from University of Maryland. He is a Certified Public Accountant licensed in the District of Columbia.

Kevin Keller Biography
Keller joins FirstEnergy from American Electric Power (AEP), where he most recently served as Director of Financial Forecasting, responsible for leading the development of comprehensive forecasts aligned to strategic objectives and targeted financial metrics for AEP's 10 operating companies. He joined AEP in 2018 as Director of Tax Accounting and Forecasting and was named Director of Finance Transformation in 2020.

Before joining AEP, Keller was a Lead Tax Consultant for Regulated Capital Consultants, a start-up consulting company focused on the power generation and utility industries. He also was a Tax Manager for PriceWaterhouseCoopers, where he served in the firm's prestigious Utilities National Practice in Chicago.

Keller earned a Bachelor of Science in accounting and Master of Business Administration from University of Dayton. He is a Certified Public Accountant licensed in Ohio.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at firstenergycorp.com and on X @FirstEnergyCorp.

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SOURCE FirstEnergy Corp.

FAQ

When will FirstEnergy's (FE) new finance VPs start their roles in 2025?

Arsalan Azarsa will start as VP for West Virginia and Maryland on February 10, 2025, while Kevin Keller will begin as VP for Ohio on February 24, 2025.

What are the responsibilities of FirstEnergy's (FE) new finance VPs?

They will develop and implement financial strategy, including budgeting, forecasting, and financial planning, while overseeing relationships with state commissions and leading state regulatory strategy development.

How does FirstEnergy's (FE) new business structure affect customer service?

The new structure shifts decision making and service closer to customers at the local level to foster better execution and customer investment.

What is the size of FirstEnergy's (FE) electric distribution network?

FirstEnergy serves more than 6 million customers across six states and operates approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.