FirstEnergy Capital Corp. appointed John Chambers as its CEO, the company said March 6. He replaces Jim W. Davidson in the role, the company added, noting that Davidson will become company executive chairman.

Chambers has been managing director and president since 2007, and as CEO will continue to lead the executive committee, FirstEnergy Capital said.

"The appointment results from our long-standing succession plan and unfolds as a natural evolution of the firm," said Davidson, who co-founded the firm.

He added, "John is a proven leader with in-depth industry knowledge. His operational excellence over the past six years as president will ensure FirstEnergy Capital is well positioned for growth as we enter our third decade of energy investment banking."

With Chambers as its president, FirstEnergy Capital was recognized for the last five consecutive years as one of Canada’s 50 best-managed companies, the company noted.

Chambers joined the company in 1998, and was head of corporate finance from 2001-2006, FirstEnergy Capital said.

Chambers holds a bachelor of science in geophysics from the University of British Columbia and an MBA in international finance from McGill University, the company said, noting that in 2006 he was named one of Canada’s Top 40 Under 40.

Calgary-based FirstEnergy Capital provides advisory, financing and capital markets solutions to energy companies around the world.