Ontario has nominated Thomas D. (Tom) Woods as the first of its four nominees for the new Board of Directors at Hydro One.
Mr. Woods has extensive experience in governance, banking and finance. He is a Board Member of Bank of America Corporation, Alberta Investment Management Corporation (AIMCo), Providence St. Joseph's St. Michael's Health Care (Board Chair) and CIBC Children's Foundation. Mr. Woods had a 37-year career with CIBC and Wood Gundy, including as Chief Financial Officer, Chief Risk Officer and Vice Chairman.
"Tom Woods has all of the strengths you want in a senior director," said Greg Rickford, Minister of Energy, Northern Development and Mines. "We are renewing the leadership at Hydro One to guide the company with a steady hand while ensuring ratepayers are always respected."
As the company's largest shareholder, the Province can nominate four directors, while a committee representing other shareholders can make six nominations. The new Board of Directors will select a CEO and that person will become the eleventh and final member of the Board.
A new Board of Directors will be in place at Hydro One by no later than August 15, 2018.