Donald Misheff Elected Chairman of the Board
February 21, 2018
Our company announced on Feb. 20 that Donald T. Misheff has been elected chairman of the company’s Board of Directors effective May 15, 2018, and Sandra Pianalto was elected as a new member of the Board, effective Feb. 20, 2018. Don will succeed longtime Chairman George M. Smart, who plans to retire from the Board at the company’s annual meeting on May 15. Board member William T. Cottle also plans to retire at that meeting.
George and Bill, both 72, are retiring in accordance with the company’s mandatory retirement age policy.
“It has been an honor to serve FirstEnergy as chairman of the Board,” George said. “The company’s management has done an outstanding job navigating a very challenging environment, and I have great confidence in the team’s strategy as it positions the company for accelerated growth. In addition, I believe Don will provide strong, thoughtful leadership to the Board as the company continues this important transition into a fully regulated utility.
“The Board will certainly miss Bill’s counsel, and we wish him well in retirement,” George said. “At the same time, we welcome the addition of Sandra Pianalto, a well-respected leader in the financial services industry. We believe her vast leadership experience and deep ties to the Northeast Ohio business community will be an asset to FirstEnergy.”
These changes will reduce the size of FirstEnergy’s Board to 12 members.
Don has been a member of FirstEnergy’s Board of Directors since 2012. He retired in 2011 as managing partner of the Northeast Ohio offices of Ernst & Young, where he advised some of the region’s largest companies on financial and corporate governance issues. He serves as a director of TimkenSteel Corp., Trinseo S.A., and Aleris Corporation.
Sandra retired in May 2014 as president and chief executive officer of the Federal Reserve Bank of Cleveland, a position she held since 2003. Prior to retiring, she also chaired the Federal Reserve’s Financial Services Policy Committee. She is an advisory trustee and holds the FirstMerit chair in banking at The University of Akron. Sandra also serves as a director of Eaton Corporation plc, Prudential Financial, Inc., and The J.M. Smucker Company.
George was a member of the Ohio Edison Board of Directors from 1988 until 1997, and became a member of the FirstEnergy Board in 1997 after Ohio Edison merged with Centerior Energy to form the company. He was elected chairman in 2004. George has served as a member and past chair of the board’s Audit Committee, and also served on the Compensation, Corporate Governance and Finance committees. He retired as president of Sonoco-Phoenix, Inc., in 2004.
Bill has been a director of FirstEnergy since 2003. He served on the board’s Corporate Governance Committee and was a member and past chair of the Nuclear Committee. He retired in 2003 as chairman of the board, president and chief executive officer of STP Nuclear Operating Company, a nuclear operating company for the South Texas Project.