{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Aug 14, 2018

Hydro One unveils new board after Doug Ford cleans house

Hydro One appoints new board of directors

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Hydro One (H.TO) took the wraps off its new board of directors Tuesday morning, a little more than a month after Ontario Premier Doug Ford got his way when CEO Mayo Schmidt retired and the entire board resigned en masse.

Ten new directors will enter the boardroom, including interim Canada Post CEO Jessica McDonald, former BMO Financial Group CFO Russel Robertson and former CIBC World Markets Vice-Chair David Hay.

The company also confirmed that former CIBC CFO Tom Woods, who was nominated to the board on July 19, will serve as interim chairman.

"This highly-qualified board has strong governance and industry experience and brings with them significant electricity, business and capital markets expertise. Their oversight will help us to build on the positive momentum the company has achieved since being privatized in 2015," said Hydro One acting CEO Paul Dobson in a release.

It’s been a tumultuous stretch for Hydro One, with its stock falling to a record low of $18.57 on July 12, the day after Schmidt’s exit and the previous slate of directors’ resignations were announced. The leadership overhaul also prompted two state regulators to extend their reviews of Hydro One’s pending $6.7-billion takeover of Washington public utility commission Avista Corp.

Hydro One also reported second-quarter adjusted earnings on Tuesday of 33 cents a share, which beat the 25-cent average of 12 analysts’ estimates compiled by Bloomberg. RBC Dominion Securities Inc. said solid results will continue to be overlooked.

“With the political uncertainty with respect to the environment for Hydro One in Ontario in addition to uncertainty with respect to the Avista transaction, we believe these items will overshadow” the results, analyst Robert Kwan said in a note.

Here's a look at Hydro One’s new directors and their notable experience.

Provincial nominees:

-Tom Woods (former CIBC CFO, will serve as interim board chair)

-Cherie Brant (Dickinson Wright partner with Indigenous law practice)

-Blair Cowper-Smith (founder of consulting firm Erin Park Business Solutions, previously served as chief corporate affairs officer of OMERS)

-Russel Robertson (former CFO and head of anti-money laundering at BMO Financial Group)

Ad hoc committee nominees:

-Anne Giardini (Simon Fraser University chancellor)

-David Hay (former CIBC World Markets vice-chair and ex-CEO of New Brunswick Power Corp.)

-Timothy Hodgson (Alignvest Capital Management managing partner and former special advisor to Mark Carney at the Bank of Canada)

-Jessica McDonald (Canada Post interim CEO and former CEO of British Columbia Hydro & Power Authority)

-William Sheffield (former Ontario Power Generation director)

-Melissa Sonberg (member of Aeroplan's founding executive team)

With files from Bloomberg News