FirstEnergy had sought to distance itself from the scandal. Shortly after the speaker's arrest, Mr Jones told investors that the company had acted properly and that it didn't have control over the decisions made by its former subsidiary. Mr Jones said the company was in talks with US Justice Department lawyers after receiving subpoenas related to the probe.
The company identified the two other fired executives in a filing as Dennis Chack, senior vice president of product development, marketing and branding; and Michael Dowling, senior vice president of external affairs. Last month, Ohio's attorney general filed a civil lawsuit against FirstEnergy and Energy Harbor, accusing them of"corrupt activity" in connection with a state law to aid struggling nuclear reactors. That complaint alleged that the companies formed an"unholy alliance" with lawmakers to pass a bailout in 2019 and moved money through nonprofit organisations to subvert Ohio's campaign finance laws.
FirstEnergy didn't give any more details in Thursday's statement on the policies that were violated, only saying that they were uncovered as part of an independent board review into the investigations. "It's a disappointing development, and one that raises questions as to what exactly the conduct was that led to the board's decision," said Paul Patterson, a utility analyst at Glenrock Associates."Clearly there was enough of an issue to cause this change in leadership," Mr Patterson said in a phone interview."The question is, what was it and are there any significant ramifications that may unfold as a result of it.
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