Hydro One Limited announced a new Board of Directors August 14, and subsequently, on September 7, announced it had confirmed Tom Woods as its choice for Chair.
Tom Woods
“This highly-qualified board has strong governance and industry experience and brings with them significant electricity, business and capital markets expertise,” said Paul Dobson, speaking as Acting President and Chief Executive Officer and Chief Financial Officer of Hydro One Limited. “Their oversight will help us to build on the positive momentum the Company has achieved since being privatized in 2015.”
The transition to a new board was accomplished when former board members stepped down and new directors were appointed effective August 14. Six directors were identified and nominated by Hydro One's ad hoc nominating committee, comprised of four of the five largest shareholders excluding the Province of Ontario. Four directors were chosen by the Province, Hydro One's largest shareholder, in accordance with the Governance Agreement.
“We are pleased to welcome these experienced and well-regarded directors to help us build on Hydro One's focus on the customer and commitment to deliver greater value for customers, communities and shareholders,” said Dobson. “During this transition, employees at all levels remain focused on providing our customers with safe, reliable power and exceptional customer service.”
The new Hydro One directors are:
Cherie Brant
Blair Cowper-Smith
Anne Giardini
David Hay
Timothy Hodgson
Jessica McDonald
Russel Robertson
William Sheffield
Melissa Sonberg
Tom Woods
“I am honoured to serve as Chair of a great company with tremendous opportunity,” said Tom Woods, Chair of the Board of Hydro One. “The Board and I are completely aligned in our support of a strong and vibrant Hydro One with a focus on system reliability and a commitment to continuous improvement for the benefit of customers, employees, shareholders and the communities we serve. We look forward to enabling the company to reach its full potential.”
Mr. Woods spent his entire career at CIBC where he served as Chief Financial Officer, Chief Risk Officer and Vice Chairman. He is a Director on the Boards of Bank of America Corporation and AIMCo and is the Chair of the Board at Providence St. Joseph's St. Michael's Health Care.
Paul Dobson
“On behalf of the thousands of skilled and dedicated Hydro One employees across the province, I welcome Tom as Chair of our Board of Directors,” said Paul Dobson, Acting President and CEO, Hydro One. “As a highly-regarded business leader, Hydro One and the Board will benefit from Tom's depth of experience in both management and corporate directorship.”
More information about Hydro One's leadership and Board of Directors can be found at https://www.hydroone.com/about/corporate-information/senior-leadership-and-board.