https://globalnews.ca/news/4325958/doug-ford-hydro-one-ceo-board-of-directors/?utm_source=notification/
Ontario Premier Doug Ford has confirmed plans to replace Hydro One’s board of directors and the retirement of the company’s CEO.
Ford made the announcement at Queen’s Park on Wednesday afternoon during a scrum with reporters.
“They’re gone, they’re done. They’re done. We’re going to turn a new corner,” Ford said.
Throughout the spring provincial election campaign, Ford repeatedly touted plans to fire the hydro company’s CEO, Mayo Schmidt — who he dubbed “the $6-million man.”
READ MORE: Doug Ford’s plan to fire Hydro One CEO would cost at least $10.7M
Schmidt, who earned a $6.2-million salary last year, would be entitled to at least $10.7 million in severance if he were to be removed from his job by the board of directors, according to the company’s annual shareholders report released on March 29.
“You can take this to the bank, the CEO’s gone and this board is gone,” he told a news conference in Toronto back in April.
“When we’re in government, we’re going to put an end to the hydro executives getting rich off the taxpayers of this great province.”
More to come.
— With files from The Canadian Press