Edition:
United States

Emera Inc (EMA.TO)

EMA.TO on Toronto Stock Exchange

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14 Dec 2018
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Summary

Name Age Since Current Position

M. Jacqueline Sheppard

62 2014 Independent Chairman of the Board

Scott Balfour

53 2018 President, Chief Executive Officer, Director

Gregory Blunden

2016 Chief Financial Officer

Nancy Tower

2017 President, Chief Executive officer - Tampa Electric

R. Michael Roberts

2014 Chief Human Resource Officer

Robert Hanf

2016 Executive Vice President - Stakeholder Relations and Regulatory Affairs

Sarah MacDonald

2017 Executive Vice President - Corporate Safety and Environment

Daniel Muldoon

2014 Executive Vice President - Major Renewables and Alternative Energy

Wayne O'Connor

2017 Executive Vice President - Business Development and Strategy

Bruce Marchand

2014 Chief Compliance Officer, Chief Legal Officer

Richard Janega

2018 Chief Operating Officer - Electric Utilities, Canada, U.S. Northeast and Caribbean

Stephen Aftanas

2008 Corporate Secretary

James Bertram

61 2018 Director

John Ramil

62 2016 Non Independent Director

Jochen Tilk

54 2018 Director

Sylvia Chrominska

66 2010 Independent Director

Henry Demone

63 2014 Independent Director

Allan Edgeworth

67 2005 Independent Director

James Eisenhauer

66 2011 Independent Director

Kent Harvey

59 2017 Independent Director

B. Lynn Loewen

56 2013 Independent Director

Donald Pether

69 2008 Independent Director

Andrea Rosen

63 2007 Independent Director

Richard Sergel

68 2010 Independent Director

Biographies

Name Description

M. Jacqueline Sheppard

Ms. M. Jacqueline Sheppard, QC., is an Independent Chairman of the Board of Emera Incorporated. Ms. Sheppard has been an Emera Director since February 2009, and became Chair of the Board in May 2014. She was a member of the Management Resources and Compensation Committee from May 2009 to May 2014, and the Audit Committee from May 2009 to October 2014. She was Chair of the two ad hoc Committees formed by the Board in August 2015 and November 2016 to oversee certain aspects of the financing related to the TECO transaction and the equity offering completed in December 2016. She was also Chair of the ad hoc Committee formed by the Board in November 2017 to oversee the equity offering completed in December 2017. Ms. Sheppard was a Director of the Company’s subsidiary Emera Newfoundland & Labrador Holdings Inc. from 2011 until May 2016. Ms. Sheppard is the former Executive Vice President, Corporate and Legal of Talisman Energy Inc. She served as Chair of the Research and Development Corporation of the Province of Newfoundland and Labrador, a Provincial Crown Corporation, until June 2014. She was a director of NWest Energy Corp. until July 2012. She is founder and Lead Director of Black Swan Energy Inc., an Alberta upstream energy company that is private equity financed. She is a Director of Cairn Energy PLC, a publicly traded UK-based international upstream company. She is also a Director of Seven Generations Energy Ltd., a publicly traded energy company focused on Canadian natural gas development. Ms. Sheppard is a Rhodes Scholar, having received an Honours Jurisprudence, Bachelor of Arts and Master of Arts from Oxford University in 1979. She earned a Bachelor of Laws degree (Honours) from McGill University in 1981, and a Bachelor of Arts degree from Memorial University of Newfoundland in 1977.

Scott Balfour

Mr. Scott C. Balfour serves as President, Chief Executive Officer, Director of the Company. Mr. Balfour has been appointed a Director and the President and Chief Executive Officer of Emera effective March 29, 2018. Mr. Balfour has held several positions since joining Emera in April 2012, including his current role of Chief Operating Officer and before that, Chief Financial Officer. Before joining Emera, he served 17 years in a variety of roles, including as President and Chief Financial Officer, with the Aecon Group Inc., a Canadian publicly traded construction and infrastructure development company. Mr. Balfour is a Director of many Emera subsidiaries, including being Chairman of Tampa Electric Company, Nova Scotia Power Inc., Emera Maine, and Emera (Caribbean) Inc. He is also a director of Martinrea International Inc. He is past Chair of the Ontario Energy Association. Mr. Balfour received his Masters of Business Administration from Richard Ivey School of Business, University of Western Ontario. He earned a Bachelor of Business Administration (Honours) from Wilfrid Laurier University. Mr. Balfour’s strong financial, operations and public company executive experience provide the foundation for his contribution to the Board and his leadership of Emera. His knowledge of capital markets, his experience growing a business through mergers and acquisitions, and structuring systems to manage that growth, are tremendous assets for the Company.

Gregory Blunden

Mr. Gregory W. Blunden, CPA, CA, is Chief Financial Officer of the Company effective March 1, 2016. Mr. Blunden, currently Emera's is Vice President, Corporate Strategy and Planning, has been with Emera since 2000. Prior to assuming his current role, he served as Executive Vice President, Customer, Business & Financial Services at Nova Scotia Power. He has held a number financial leadership roles at Emera Inc., Emera Maine and Nova Scotia Power. Mr. Blunden is a Chartered Professional Accountant and a graduate of Mount Allison University.

Nancy Tower

Ms. Nancy G. Tower serves as President, Chief Executive officer - Tampa Electric of Emera Inc. She was Executive Vice President - Business Development of Emera Incorporated. Ms. Tower, a Fellow Chartered Accountant, joined Nova Scotia Power in 1997 and has held senior positions in the company in Corporate Finance and Operations, including Controller and Vice President of Customer Operations. Ms. Tower serves on the Boards of a number of Emera investments including Bangor Hydro Electric Company, ICD Utilities, Brunswick Pipeline and Atlantic Hydrogen. Prior to joining Emera, Ms. Tower worked with Grant Thornton, A.I. Tower and Ernst and Young. Ms. Tower is community, currently serving on the Board of Directors of Nova Scotia Business Inc., as well as, the Advisory Council of the Dalhousie University Corporate Residency MBA Program. She is a past member of the Board of Trustees of the QEII Foundation, and the Board of Directors of CAA Atlantic. She is the former Chair of the Nova Scotia Institute of Chartered Accountants and a graduate of Dalhousie University.

R. Michael Roberts

Mr. R. Michael Roberts is Chief Human Resources Officer of the Company since December 1, 2014. Previously, he has been President, Optimum Talent Atlantic of Halifax. Prior to that, Vice President, Corporate Development at Irving Shipbuilding and Vice President, Human Resources at Bell Aliant.

Robert Hanf

Mr. Robert John Scott Hanf is an Executive Vice President - Stakeholder Relations and Regulatory Affairs of the Company. Mr. Hanf completed his third year as President and CEO of Nova Scotia Power Inc., delivering strong results, which included the establishment of a rate stability plan and fuel cost reductions. He remained focused on an improved business model, service delivery to Nova Scotia Power Inc.’s customers and capital planning. He has been Executive Vice-President, Stakeholder Relations and Regulatory Affairs since August 2016. Previously, President and Chief Executive Officer of NSPI until August 2016 and before that Chief Legal Officer of Emera.

Sarah MacDonald

Ms. Sarah R. MacDonald serves as Executive Vice President - Corporate Safety and Environment of the Company. She has been Executive Vice-President Corporate Safety and Environment since December 18, 2017. Also President of TECO Services, Inc. from September 1, 2016. From June 11, 2013 to July 7, 2017 Executive Chairman of ECI From June 30, 2011 to December 1, 2016, President and Chief Executive Officer of GBPC.

Daniel Muldoon

Mr. Daniel P. Muldoon is Executive Vice President - Major Renewables and Alternative Energy of the Company, He has been Executive Vice-President, Major Renewables and Alternative Energy since May 2014. From June 16, 2011 to March 31, 2013, President and Chief Operating Officer, Emera Utility Services Inc. Prior to that, General Manager Engineering & Construction, Emera.

Wayne O'Connor

Mr. Wayne D. O'Connor serves as Executive Vice President - Business Development and Strategy of the Company. He has been Executive Vice-President, Business Development and Strategy since December 15, 2017. Previously,, Executive Vice-President Corporate Strategy and Planning since March 2016. From October 2012 to February 2016, Executive Vice President Operations, NSPI. From June 2011 to October 2012, President and Chief Operating Officer of Emera Energy. From April 2008 to June 2011, Chief Operating Officer of Emera Energy.

Bruce Marchand

Mr. Bruce A. Marchand serves as Chief Compliance Officer, Chief Legal Officer of Emera Incorporated. He came to Emera after many years as a Senior Partner in the Halifax office of McInnes Cooper, practising in a broad range of Corporate, Commercial, Energy and Banking Law. Mr. B.A. Marchand is recognized in Lawyers in Canada and Lexpert Directory as a Practitioner in Corporate Commercial Law. He has been Chief Compliance Officer since December 1, 2014. Chief Legal Officer since January 2012. Prior to January 2012, Senior Partner at the law firm of McInnes Cooper.

Richard Janega

Mr. Rick Janega serves as Chief Operating Officer - Electric Utilities, Canada, U.S. Northeast and Caribbean of the Company effective March 31, 2018. Over his almost 30 years with the company, Mr. Janega has held a variety of leadership roles and has been a key part of Emera's growth. He was appointed president, Emera Newfoundland & Labrador (ENL) in February, 2011, and became chief executive officer of ENL in April, 2014. Prior to this, he was executive vice-president and chief operating officer at Nova Scotia Power Inc. and has held a number of positions from senior plant manager at the Trenton and Point Tupper generating stations to vice-president, operations, and general manager of power production.

Stephen Aftanas

Mr. Stephen D. Aftanas is Corporate Secretary of Emera Incorporated. He has been Corporate Secretary since September 2008. From June 2007 to September 2008, Associate Corporate Secretary. From March 2006 to June 2007, Associate General Counsel, NSPI. Prior to March 2006, Senior Solicitor, Emera.

James Bertram

Mr. James V. Bertram is Director of the Company. Mr. Bertram is currently Chair of the Board, and is the former President and Chief Executive Officer, of Keyera Corporation based in Calgary, Alberta. He spent 16 years building the company into one of Canada's leading publicly-traded, midstream oil and gas operators. Mr. Bertram led the company in significant growth and major acquisitions, while enabling consistent delivery of value to customers and shareholders.

John Ramil

Mr. John B. Ramil is Non Independent Director of the Company. Mr. Ramil has been a Director since September 2016 and a member of the Health, Safety and Environment Committee since May 2017. He is the former President and Chief Executive Officer of TECO Energy, Inc. (“TECO”), having retired as President and Chief Executive Officer of TECO on August 31, 2016 after Emera acquired TECO on July 1, 2016. Mr. Ramil had a distinguished 40-year career with TECO which included becoming TECO’s President in 2004. He joined the TECO Board of Directors in 2008, and became Chief Executive Officer in 2010. Mr. Ramil has been a significant leader in the Tampa Bay community. He is Chair of the Boards of GuideWell Mutual Holding Corporation and Blue Cross Blue Shield of Florida. He serves on the Board of Directors of the Moffitt Cancer Center Institute. He is a member of the Florida Council of 100 and is Trustee and past Chair of the University of South Florida. He is a former member of the Board of the Edison Electric Institute, an industry association, and is a former member of the Board of Tampa Bay Partnership. Previously, he served as Chairman of the Greater Tampa Chamber of Commerce and the Tampa Hillsborough Economic Development Corp. Mr. Ramil received his Bachelor of Science, Master of Science and Honorary Doctorate degrees in Engineering from the University of South Florida (USF). In 1999, he was named USF’s Distinguished Alumnus. He is the longest-serving member of the USF Board of Trustees and served as its chairman from 2010 to 2015.

Jochen Tilk

Mr. Jochen E. Tilk is Director of the Company. Mr. Tilk is Executive Chair of Nutrien Inc., a Canadian global supplier of agricultural products and services based in Saskatoon, Saskatchewan. He is the former President and Chief Executive Officer of Potash Corporation of Saskatchewan. Previously, Mr. Tilk spent 15 years with Inmet Mining Corporation, a Canadian-based, international metals company, with 5 of those years as the company's President and Chief Executive Officer. During this time, Mr. Tilk helped significantly grow the company's market capitalization and led multi-billion-dollar capital expenditure programs.

Sylvia Chrominska

Ms. Sylvia D. Chrominska is an Independent Director of Emera Incorporated. Ms. Chrominska has been a Director since September 2010. She has been a member of the Management Resources and Compensation Committee since November 2010, and became Chair of the Committee in May 2016. She was a member of the Nominating and Corporate Governance Committee from June 2012 to September 2014. She was Chair of the ad hoc Pension Governance Committee from its inception in November 2013 until its termination in May 2014. Ms. Chrominska is the former Group Head of Global Human Resources and Communications for The Bank of Nova Scotia, where she had global responsibility for human resources, corporate communications, government relations, public policy and corporate social responsibility of the Scotiabank Group. Ms. Chrominska is the former Chair of the Board of Scotiabank Trinidad and Tobago Limited and Scotia Group Jamaica Limited. Ms. Chrominska is also a Director of Wajax Corporation. Ms. Chrominska graduated from the University of Western Ontario with an Honours Degree in Business Administration. She also serves on the Dean’s Advisory Board at the Richard Ivey School of Business and is a member of the Board of Governors of the University of Western Ontario. She received an honorary Doctor of Laws from the University of Western Ontario in 2014. Ms. Chrominska’s 30-year career in the banking sector has provided her with valuable skills and knowledge in financial and credit matters. In particular, the experience she has gained through her senior executive leadership roles, with responsibilities encompassing a broad spectrum of areas within a complex, global business organization, is a distinct asset.

Henry Demone

Mr. Henry E. Demone is an Independent Director of Emera Incorporated. Mr. Demone joined the Emera Board of Directors in September 2014. He also became a member of the Management Resources and Compensation Committee at that time. He was appointed to the Nominating and Corporate Governance Committee in May 2017. He is the Chairman and Chief Executive Officer of High Liner Foods of Lunenburg, Nova Scotia, the leading North American processor and marketer of value-added frozen seafood. He was President of High Liner Foods from 1989 until he became President and Chief Executive Officer from 1992 until May 2015. He was reappointed Chief Executive Officer of High Liner Foods in August 2017. Mr. Demone currently sits on the Board of Saputo Inc. He is past-Chair of the Fisheries Council of Canada and The Groundfish Forum, a global trade association representing industry leaders. He has served on the Boards of Dover Industries Ltd. and Maritime Tel & Tel (Aliant). Mr. Demone was also the first non-US citizen to be named Chair of the National Fisheries Institute, a US national trade association. Mr. Demone received his Bachelor of Science in Mathematics with honours from Acadia University. In both public and private entities, Mr. Demone has extensive experience in strategic planning, global markets, mergers and acquisitions. As a long-time business leader in Atlantic Canada, Mr. Demone’s robust business relationships and his solid reputation make him a valuable member of Emera’s Board of Directors.

Allan Edgeworth

Mr. Allan L. Edgeworth is an Independent Director of Emera Incorporated. Mr. Edgeworth has been a Director since November 2005. He has been Chair of the Health, Safety and Environment Committee since May 2017. He has been a member of the Management Resources and Compensation Committee since February 2006 and was Committee Chair from May 2010 to May 2016. Mr. Edgeworth was a member of the Audit Committee from April 2008 to May 2013. From May 2007 to April 2008, Mr. Edgeworth was a member of the Nominating and Corporate Governance Committee. He also served as a Director of Nova Scotia Power Inc. from November 2005 to October 2006. Mr. Edgeworth is former President of ALE Energy Inc., a private consulting company. Previously he was the President and Chief Executive Officer of Alliance Pipeline. Until March 31, 2012, he was a Commission member and Director of the Alberta Securities Commission. He is a Director of AltaGas Ltd. and was a Director of Pembina Pipeline Corporation. Mr. Edgeworth has also served on the Boards of the Interstate National Gas Association of America and the Canadian Gas Association. He is past-Chair of the Canadian Energy Pipeline Association. A Professional Engineer, Mr. Edgeworth holds a Bachelor of Applied Science from the University of British Columbia in Geological Engineering and is a graduate of the Queen’s Executive Program. His extensive experience as a senior leader in the energy sector combined with his expertise in corporate governance makes Mr. Edgeworth a valuable member of the Board.

James Eisenhauer

Mr. James D. Eisenhauer, FCPA, FCA., is an Independent Director of Emera Incorporated., since June 11, 2011. Mr. Eisenhauer has been a Director of the Company since May 2011 and a member of the Audit Committee since June 2016. He is the former Chairman of the Board of Directors of Emera’s subsidiary, Nova Scotia Power Inc., having served on its Board since 2008. He is President and Chief Executive Officer of ABCO Group Limited, which has holdings in manufacturing and distribution. He is a Professional Engineer and a Fellow of the Chartered Professional Accountants of Nova Scotia. Mr. Eisenhauer was a member of the Board of Nova Scotia Business Inc. from 2005 to January 2013, serving as Chair from November 2010 to October 2012. He has also been a member of the Board of Stelia Aerospace North America Inc. since 2014 and its predecessors since 1987. He is also on the Advisory Board of Atlantic Industries Limited and is Chair of its Advisory Audit Committee. Mr. Eisenhauer holds a Bachelor of Science from Dalhousie University and a Bachelor of Engineering (with distinction) from the Technical University of Nova Scotia. Mr. Eisenhauer’s professional knowledge and experience combined with his executive leadership in manufacturing and distribution businesses are valuable assets. His leadership role in the Nova Scotia business community provides him with valuable stakeholder and governance skills and experience.

Kent Harvey

Mr. Kent M. Harvey serves as Independent Director of the Company. Mr. Harvey joined the Emera Board of Directors in November 2017 and was appointed to the Audit Committee at that time. Mr. Harvey is former Chief Financial Officer for PG&E Corporation, a Fortune 200 energy-based holding company, headquartered in San Francisco. PG&E Corporation is the parent company of Pacific Gas and Electric Company, one of the largest combined natural gas and electric energy companies in the United States. After 33 years in progressively senior roles, he retired from PG&E Corporation in 2016. Born in Montreal, Mr. Harvey is a naturalized US citizen. He holds a Bachelor’s degree in Economics and a Master’s degree in Engineering – Economic Systems, both from Stanford University. He has served as trustee of the American Conservatory Theater and director of the North Bay Leadership Council. Mr. Harvey is an energy industry leader and strategic thinker with strong US experience and financial depth, which will serve as great assets to the Emera Board.

B. Lynn Loewen

Ms. B. Lynn Loewen, FCPA, FCA., is an Independent Director of Emera Incorporated., since February 8, 2013. Ms. Loewen has been a Director of the Company since February 2013 and a member of the Audit Committee since May 2013. Ms. Loewen is currently President of Minogue Medical Inc. She was President of Expertech Network Installation Inc. from 2008 to 2011. She held key positions with Bell Canada Enterprises, as Vice President of Finance Operations from 2005 to 2008, and as Vice President of Financial Controls from 2003 to 2005. Prior to that, she was Vice President of Corporate Services and Chief Financial Officer of Air Canada Jazz, where she held positions of increasing responsibility since 1988. Ms. Loewen was a member of the Public Sector Pension Investment Board from 2001 to 2007, where she served on the Audit Committee from 2003 to 2007 and as Audit Committee Chair from 2006 to 2007. She was Chair of the Governance Committee from 2003 to 2006. Ms. Loewen holds a Bachelor of Commerce from Mount Allison University and obtained her Chartered Accountant designation in 1986. She served on the Mount Allison University Board of Regents from 1998 to 2008 and as Chair from 2007 to 2008. She also served as a member of the Advisory Board of the Ron Joyce Centre for Business Studies from 2009 to 2011.

Donald Pether

Mr. Donald A. Pether is an Independent Director of Emera Incorporated. Mr. Pether has been a Director since November 2008. He has been a member of the Nominating and Corporate Governance Committee since May 2009, and was appointed Chair of the Committee in April 2012. He became a member of the Health, Safety and Environment Committee in November 2017, and was a member of the Audit Committee from November 2014 to November 2017. He was also a member of the Management Resources and Compensation Committee from May 2009 to September 2014. He was a member of the ad hoc Pension Governance Committee from its inception in November 2013 until its termination in May 2014. Mr. Pether is the former Chair of the Board and Chief Executive Officer of ArcelorMittal Dofasco Inc., a Canadian steel producer. He is a past-Chair of the Board of the Hamilton Health Sciences Foundation, the McMaster Innovation Park and McMaster University. He currently sits on the Board of the Manning Innovation Awards Foundation, the Board of the National Gallery of Canada Foundation and the Council of Governors for the Art Gallery of Hamilton. He is a Director of Samuel, Son & Co. Ltd. and Schlegel Health Care Inc. Mr. Pether has a Bachelor of Science in Metallurgical Engineering from the University of Alberta and holds an honorary Doctor of Laws from McMaster University. Mr. Pether’s experience as a chief executive officer of a steel producer owning assets in the mining and automotive parts industry, and with employees in the US, Mexico and Canada, provides him with valuable business and stakeholder skills. Mr. Pether’s experience throughout his career with employee and labour relations, as well as with innovative manufacturing and maintenance processes, are of significant benefit to the Board.

Andrea Rosen

Ms. Andrea Sarah Rosen is an Independent Director of Emera Incorporated. Ms. Rosen has been a Director since January 2007 and a member of Emera’s Audit Committee since May 2007. She was appointed Audit Committee Chair in April 2008. She was a member of the two ad hoc Committees formed by the Board in August 2015 and November 2016 to oversee certain aspects of the financing related to the TECO transaction and the equity offering completed in December 2016. She was also appointed to the ad hoc Committee formed by the Board in November 2017 to oversee the equity offering completed in December 2017. Ms. Rosen was Vice Chair of TD Bank Financial Group and President of TD Canada Trust from 2002 to 2005. Prior to this, she was Executive Vice President of TD Commercial Banking and Vice Chair of TD Securities. Previously, Ms. Rosen also served as Vice President of Varity Corporation from 1991 to 1994. Between 1981 and 1990, she held a variety of roles at Wood Gundy Inc. (later CIBC Wood Gundy) eventually becoming Vice President and Director. Ms. Rosen is a Director of Manulife Financial Corporation and a former Director of Alberta Investment Management Corporation. She is a member of the Board of Directors of the Institute of Corporate Directors. Ms. Rosen received her Bachelor of Laws degree from Osgoode Hall Law School and a Masters of Business Administration from the Schulich School of Business at York University. She earned a Bachelor of Arts degree from Yale University. Ms. Rosen has spent over 20 years in the corporate finance field and is an experienced senior executive.

Richard Sergel

Mr. Richard P. Sergel is an Independent Director of Emera Incorporated. Mr. Sergel has been a Director since September 2010. He has been a member of the Nominating and Corporate Governance Committee since November 2010, and a member of the Management Resources and Compensation Committee since September 2014. He was a member of the Audit Committee from November 2010 to September 2014. He was a member of the ad hoc Pension Governance Committee from November 2013 to May 2014. He was a member of the two ad hoc Committees formed by the Board in August 2015 and November 2016 to oversee certain aspects of the financing related to the TECO transaction and the equity offering completed in December 2016. He was also appointed to the ad hoc Committee formed by the Board in November 2017 to oversee the equity offering completed in December 2017. Mr. Sergel is also a member of the Board of the Company’s subsidiary, Emera US Holdings Inc. Mr. Sergel is the former President and Chief Executive Officer of the North American Electric Reliability Corporation (“NERC”). He served as President and Chief Executive Officer of National Grid USA, and its predecessor New England Electric System, from 1998 to 2004. Mr. Sergel is presently a Director of State Street Corporation. He also served on the Boards of the Edison Electric Institute, the Consortium for Energy Efficiency, and the United Way of the Merrimac Valley. Mr. Sergel holds a Bachelor of Science in Mathematics from Florida State University, a Master of Science in Applied Mathematics from North Carolina State University, and a Master of Business Administration from the University of Miami.