FirstEnergy Corp.’s board of directors have declared a dividend and also elected two new members to its ranks.
On Tuesday, the board for the Akron-based electric utility declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable March 1 to shareholders of record at the close of business on Feb. 7.
The board also elected two new board members to bring its total number to 16.
The new board members are Steven J. Demetriou and James F. O’Neil III.
Demetriou, 58, is chairman and chief executive officer of Dallas-based Jacobs Engineering Group, Inc., a global technical professional and construction services company. O’Neil, 58, is a partner at Western Commerce Group, an advisory and investment firm based in Fort Worth, Texas.
George M. Smart, chairman of FirstEnergy’s board said “ both are seasoned leaders with extensive executive and board experience, which will be valuable to our company and its shareholders.”
Here is more information from the company on the two men:
Demetriou has more than 30 years of leadership experience, including 15 years in the role of chief executive officer at various companies. Prior to joining Jacobs in 2015 he served as chairman and chief executive officer of Cleveland-based Aleris Corporation, a global leader in aluminum rolled products, from 2004 until 2015.
Demetriou was president and chief executive officer of Noveon, a specialty chemicals business, from 2001 until 2004; president of IMC Phosphates from 1999 until 2001; and vice president, Global Specialty Resins and president of Asian operations at Cytec Industries, Inc. He began his career at Exxon Mobil Corporation, where he held roles of increasing responsibility in operations, commercial, financial and general management during his 16 years at the company.
Demetriou has been a director of Kraton Corporation (2009 until Kraton’s 2017 Annual Meeting). He was a director of Foster-Wheeler AG from 2008 to 2014, serving as non-executive chairman from 2011 to 2014. He was also a director of the OM Group from 2005 to 2015.
He holds a Bachelor of Science degree in Chemical Engineering from Tufts University.
Prior to joining Western Commerce Group, O’Neil was president, chief executive officer and a director of Quanta Services from 2011 until 2016. He was the company’s chief operating officer from 2008 until 2011, and senior vice president Operation Integration and Audit from 2002 until 2008. He joined Quanta Services as vice president, Operation Integration in 1999. During his tenure as CEO at Quanta, O’Neil oversaw significant growth, as the company nearly doubled revenues and employee base, expanded into Latin America and Australia, and further diversified its services.
O’Neil began his career at Halliburton, where he rose from engineering, sales and operational roles into global leadership positions.
O’Neil is a director at National Trench Safety and at Sterling Lumber, where he was elected Chairman in 2016. He is also vice chairman of the Board and chairman-elect of American Red Cross – Houston Gulf Coast Region.
O’Neil received a Bachelor of Science degree in Civil Engineering from Tulane University.