Hydro One CEO to Retire as Ontario's Doug Ford Shakes Up Utility
•All of company’s board will be replaced in ‘orderly’ way
• New Ontario government had pledged to dismiss Hydro One board
Hydro One Ltd. Chief Executive Officer Mayo Schmidt will retire and the company’s board will be replaced as new Ontario Premier Doug Ford moves to fulfill a promise to shake up the province’s troubled power system in a bid to reduce electricity prices.
Getting rid of Schmidt, 60, was at the top of the agenda for Ford and his Progressive Conservatives who won a provincial election last month. The vote ended 15 years of rule by the Liberal Party which had partially privatized the electricity transmission and distribution company.-- More...
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