Hydro One chief operating officer and chief legal officer leaving utility
The departures follow the announcement last week that Mark Poweska will become Hydro One's president and chief executive
The province plans to kick off Hydro One’s privatization with a 15 per cent offering that will eventually be expanded to 60 per cent. PHOTO: Raysonho, via Wikimedia Commons
TORONTO – Hydro One says its chief operating and officer and chief legal officer are leaving the company.
The power utility says chief operating officer Greg Kiraly and chief legal officer Jamie Scarlett will leave after a period of planned leadership transition.
The departures follow the announcement last week that Mark Poweska, BC Hydro’s executive vice president of operations, will become Hydro One’s president and chief executive in early May.
The hiring came after former Hydro One CEO Mayo Schmidt retired following the election of the Progressive Conservative government last spring.
Premier Doug Ford campaigned on a promise to fire Schmidt, whom he dubbed the “Six Million Dollar man” because of the CEO’s salary.
The province has since forced the utility to cap the pay of its chief executive at a maximum of $1.5 million a year in direct compensation, with a base salary of no more than $500,000.
Pay for other executives at the utility is capped at 75 per cent of the CEO’s total direct compensation.
