Hydro One’s chief executive is stepping down; board member appointed interim president and CEO

Ontario — Ontario electricity transmission and distribution utility Hydro One; is seeking a new CEO for the second time in four years after current CEO Mark Poweska announced his departure.

The company says he is stepping down to assume a leadership position at a utility closer to his family in Western Canada later this year.

“I would like to thank Hydro One’s Board, leadership team and every employee for your dedication and passion, especially over the last couple years as we supported customers and communities across Ontario,” said Mark Poweska, former President and CEO of Hydro One. “I am confident that the strategy and team we have built together will continue to deliver greater value for customers, communities, employees and shareholders.”

William (Bill) Sheffield, a member of the company’s Board of Directors since 2018, has been appointed Interim President and CEO of Hydro One.

Hydro One says Poweska will remain with Hydro One as an advisor to support Sheffield with the transition.