Hydro One says an executive from a British Columbia electrical utility will become the new president and CEO of Ontario's partially privatized utility.
Mark Poweska, who currently serves as BC Hydro's executive vice president of operations, will start work at Hydro One in early May.
Premier Doug Ford campaigned on a promise to fire Schmidt, whom he dubbed the "Six Million Dollar man" because of the CEO's salary. "Mark's proven record in building a strong safety culture, exceeding customer expectations and improving operational performance will help to ensure that Hydro One is strong now and into the future," Woods said in a statement.
In July, Ford made good on his campaign promise to turf Schmidt, announcing his immediate retirement and the resignation of the utility's entire board of directors. In February, the province issued a directive to Hydro One, ordering it to pay its CEO no more than $1.5 million per year -- substantially less than the partially privatized utility had proposed.Energy Minister Greg Rickford asked Hydro One to come up with a revised executive compensation framework that set its CEO's salary and incentives no higher than $1.5 million, but the utility didn't budge.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Private-power group disputes government claim B.C. Hydro wasting $16 billion on unneeded electricityIPP group disputes government claim B.C. Hydro wasting $16 billion
Read more »
Ontario PCs will wind down Liberal Fair Hydro Plan, rate increases tied to inflationThe Progressive Conservative government is introducing legislation that will put an end to the previous Liberal administration's hydro plan while maintaining a 25 per cent rate cut.
Read more »
Ontario PC Hydro Plan Is Wynne's Plan With A New Name, Critics SayThe government says their plan will hold rate increases to inflation.
Read more »
Posthaste March 26: $350M blow to SNC, B.C.’s LNG tax credit and why our cannabis supremacy is under threatThe hits keep coming for SNC-Lavalin, and B.C. is in love again with at least one kind of fossil fuel — the one that can fetch it billions of dollars
Read more »
Daily Poll: Are you disappointed there aren't more government-run cannabis shops in B.C.?Five months after recreational cannabis was legalized in Canada, there is still just one government-run pot shop operating in B.C.
Read more »
One dead, two barricaded inside New Hampshire hotel: policeA standoff between police and two people barricaded inside a hotel stretched into a second day Thursday, a night after a man was killed in a shooting there involving law enforcement agents, authorities said.
Read more »
Lululemon soars to record high after delivering one of ‘strongest years ever’Wall Street analysts raise their price targets after blockbuster fourth quarter
Read more »
Town of Innisfil to accept Bitcoin for tax payments, in one-year pilot projectThe Ontario town of Innisfil will soon begin accepting cryptocurrencies as payment for its property taxes, starting with Bitcoin.
Read more »
Much of East Coast is one 'perfect storm' away from being cut off from CanadaAmherst, N.S. is a potential ground zero of a Canadian climate change disaster, where sea-level communities face rising oceans and await word on a detailed plan and the funding to keep the narrow land link between Nova Scotia and New Brunswick open.
Read more »
What one donor to the UCP's 'kamikaze' candidate thought he'd get - Macleans.caJeff Callaway's 'bodyman' hoped to be a player in Alberta politics—and maybe even work for Jason Kenney if he won. So he gave what he thought was a legitimate donation.
Read more »