Hydro One lands new boss to replace CEO ousted by Premier Doug Ford

Hydro One has landed a new boss to replace ousted CEO Mayo Schmidt, nicknamed “the six million dollar man” by Premier Doug Ford for his annual pay packet.

After months of sparring with the Ontario government — its largest single shareholder — about executive salary levels, the partially privatized electricity and transmission company has named BC Hydro executive vice-president of operations Mark Poweska as president and chief executive.

“We’re confident that Mr. Poweska’s extensive background in generation, transmission and distribution is the experience Hydro One needs,” Energy Minister Greg Rickford said in a statement Thursday night. “I firmly believe that Hydro One’s best days are ahead and the company will be stronger than ever.”

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