FirstEnergy Fires CEO Jones in Wake of Ohio Bribery Scandal (2)

FirstEnergy Corp. fired Chief Executive Officer Charles Jones and two other senior executives after a board review set up in the wake of a federal corruption scandal found they violated the company’s policies and its code of conduct.

The Akron, Ohio-based utility appointed President Steven Strah acting CEO, effective immediately, according to a statement late Thursday. FirstEnergy’s senior vice president of product development, marketing, and branding and its senior vice president of external affairs were also fired.

FirstEnergy’s shares fell 5.7% at 3:08 p.m. in New York.

The firings are the company’s strongest move yet in response to an alleged ...