FirstEnergy Sees Third CEO in 2 Years After Corruption Probe (1)

FirstEnergy Corp. named an interim chief executive officer -- the third leader in two years -- as the utility giant tries to distance itself from corruption charges related to the passage of an Ohio nuclear subsidy bill in 2019.

John Somerhalder, 66 and the utility’s chairman, will temporarily serve as president and CEO until a permanent replacement can be found for Steven Strah, the Akron-based utility said in a statement Thursday.

FirstEnergy shares fell 0.4% to $41.29 in trading before the market opened in New York on Friday.

Strah, whose tenure at the company spanned 38 years, was ...