Edition:
United States

Hydro One Ltd (H.TO)

H.TO on Toronto Stock Exchange

22.62CAD
3:59pm EST
Change (% chg)

$0.17 (+0.76%)
Prev Close
$22.45
Open
$22.45
Day's High
$22.66
Day's Low
$22.43
Volume
297,370
Avg. Vol
628,668
52-wk High
$24.66
52-wk Low
$21.32

Summary

Name Age Since Current Position

David Denison

64 Chairman of the Board

Mayo Schmidt

59 2015 President, Chief Executive Officer, Director

Michael Vels

55 Chief Financial Officer

Greg Kiraly

Chief Operating Officer

Judy McKellar

60 2016 Chief Human Resource Officer, Executive Vice President

Paul Barry

Executive Vice President - Strategy and Corporate Development

Ferio Pugliese

Executive Vice President - Customer Care and Corporate Affairs

James Scarlett

Executive Vice President, Chief Legal Officer

Ian Bourne

69 Independent Director

Charles Brindamour

46 Independent Director

Marcello Caira

63 Independent Director

Christie Clark

63 Independent Director

George Cooke

63 Independent Director

Margaret Harris

59 Independent Director

James Hinds

60 Independent Director

Kathryn Jackson

59 Independent Director

Roberta Jamieson

64 2015 Independent Director

Frances Lankin

62 2015 Independent Director

Philip Orsino

62 2015 Independent Director

Jane Peverett

58 2015 Independent Director

Gale Rubenstein

64 2015 Independent Director

Biographies

Name Description

David Denison

Mr. David F. Denison serves as Independent Chairman of the Board of the Company. Mr. David Denison is the board chair of Hydro One and Hydro One Inc. He is a corporate director and previously served as President and Chief Executive Officer of the Canada Pension Plan Investment Board, a global investment management organization, from 2005 to 2012. Prior to that, Mr. Denison was President of Fidelity Investments Canada Limited. Mr. Denison is a director of the Royal Bank of Canada, Bell Canada, Allison Transmission Holdings Inc. and serves as Vice-Chair of Sinai Health Systems. He is also a member of the Investment Board and International Advisory Committee of the Government of Singapore Investment Corporation, the International Advisory Council of China Investment Corporation, the World Bank Treasury Expert Advisory Committee and the University of Toronto Investment Advisory Committee. In April 2014, Mr. Denison was appointed a member of the Premier’s Advisory Council on Government Assets whose mandate was to review and identify opportunities to modernize government business enterprises. Mr. Denison earned Bachelor degrees in mathematics and education from the University of Toronto and is a Chartered Professional Accountant and a Fellow of the Institute of Chartered Accountants of Ontario. Mr. Denison is an Officer of the Order of Canada.

Mayo Schmidt

Mr. Mayo M. Schmidt is President, Chief Executive Officer, Director of the Company. Prior to joining Hydro One, Mr. Schmidt served as President, Chief Executive Officer, and director at Viterra Inc., the global food ingredients company from January 2000 to December 2012. Early in his career, Mr. Schmidt held a number of key management positions of increasing responsibility at General Mills, Inc. until he joined ConAgra Grain, Canada as President and spearheaded ConAgra’s expansion. He was promoted to Executive Vice-President, Domestic and International Operations with KBC Trading and Processing Company, a global subsidiary of ConAgra Inc. In 2000, he was appointed Chief Executive Officer of Saskatchewan Wheat Pool, the leading Canadian agriculture corporation and predecessor to Viterra Inc. In 2005, he was named President, joined the Board of Directors, and led Saskatchewan Wheat Pool to become a listed public corporation. In 2007, he led a $2.0 billion acquisition of Agricore United, then a $2.2 billion acquisition of ABB, Australia’s leading agriculture corporation. Mr. Schmidt is a transformative leader with a track record of improving operations and efficiencies while building a performance-driven culture. He was the architect of Viterra Inc.’s transformation from a regional agriculture and food business to a global leader, with Viterra Inc. more than tripling revenue to almost $12 billion. Under Mr. Schmidt’s leadership, the total enterprise value of Viterra Inc. increased from under $200 million in 2000 to $7.48 billion. Mr. Schmidt currently sits on the Board of Directors of Agrium Inc., a global agriculture firm and the Global Transportation Hub Authority. Mr. Schmidt received his B.B.A. from Washburn in 1980.

Michael Vels

Mr. Michael H. Vels is Chief Financial Officer of the Company. Prior to joining the Company, Before joining Hydro One, Mr. Vels was the Chief Financial Officer for Maple Leaf Foods Inc. Mr. Vels had over 20 years of experience with Maple Leaf Foods Inc. where he was responsible for leading organizational change, multiple capital market transactions, business acquisitions and divestitures, information technology transformations and restructurings. He also served on the board of directors of Maple Leaf Foods Inc.’s public traded subsidiary, Canada Bread Company, Limited. Mr. Vels led complex multi-divisional finance teams, information solutions and communications and investor relations functions and has considerable experience with mergers, acquisitions and divestitures. He currently serves on the Board of Directors of Canada’s National Ballet School. Mr. Vels earned a Bachelor of Accountancy from the University of Witwatersrand, in Johannesburg, South Africa. He is a Chartered Accountant (South African Institute of Chartered Accountants) and he has earned his ICD.D (Institute of Corporate Directors) designation.

Greg Kiraly

Judy McKellar

Ms. Judy McKellar is the Chief Human Resource Officer, Executive Vice President of the company. Ms. McKellar has held various roles of increasing responsibility at Hydro One in the Human Resources department over her 30+ year career and was appointed VP of Human Resources in 2010. In 2014, she assumed the additional responsibility of Senior Vice President of People and Culture/Health, Safety and Environment and serves as the accountable executive for the Human Resources Committee of the Board of Directors. Ms. McKellar is responsible for the development and implementation of integrated talent strategies, leadership development, employee experience, change management/organizational effectiveness, labour relations, total rewards and the company’s health, safety and environmental programs. In her role, she oversees Hydro One’s accelerated cultural transformation from the public to private sector and is implementing such change through effective people strategies and programs designed to align workforces to deliver business results in a safe and efficient manner.

Paul Barry

Ferio Pugliese

James Scarlett

Ian Bourne

Mr. Ian A. Bourne serves as Independent Director of the Company. Mr. Ian Bourne is the Chair of the Board of Directors of Ballard Power Systems, Inc. (2006-present), a global leader in proton exchange membrane fuel cell technology, and a member of the Board of Directors of the Canada Pension Plan Investment Board, Canadian Oil Sands Limited, Wajax Corporation, and the Canadian Public Accountability Board. He is also the former Chair of SNC-Lavalin Group Inc. (2013-2015) and was a director from 2009 to 2015 during which time he also served as that company’s Interim Chief Executive Officer from March 2012 to October 2012. Mr. Bourne has also held a variety of senior financial and executive roles in Canada and internationally with a number of Canadian corporations including: GE Canada, Inc. (1969-1992) where he served as Chief Financial Officer; Canada Post Corporation (1992-1997) where he served as Senior Vice-President and Chief Financial Officer; and TransAlta Corporation (1998-2005) where he served as Executive Vice President and Chief Financial Officer and as President of TransAlta Power LP between 1998-2006. Mr. Bourne has been active in serving a variety of community based organizations including the Calgary Philharmonic Orchestra, The Glenbow Museum, and The Calgary Foundation. He holds a Bachelor of Commerce degree from Mount Allison University and is a Fellow of the Institute of Corporate Directors.

Charles Brindamour

Mr. Charles Brindamour serves as Independent Director of the Company. Mr. Charles Brindamour is the Chief Executive Officer of Intact Financial Corporation, Canada’s largest property and casualty insurance provider. Mr. Brindamour is a director of Intact Financial Corporation, the C.D. Howe Institute, Branksome Hall and the Insurance Bureau of Canada. He is also a member of the Advisory Committee of the University of Waterloo’s Climate Change Adaptation Project, serves on the advisory board of Gibraltar Growth Corporation and is co-chair of Laval University’s “Grande Campagne”. Mr. Brindamour is a graduate of Laval University in Actuarial Sciences and an associate of the Casualty Actuarial Society.

Marcello Caira

Mr. Marcello Caira serves as Independent Director of the Company. Mr. Marc Caira is the Vice-Chairman of the board of directors of Restaurant Brands International Inc., a multinational quick service restaurant company. He is also a director of the Minto Group, a private real estate developer and on the board of governors of Seneca College, a leading post-secondary educational institution. Prior to his appointment as Vice-Chairman of Restaurant Brands International Inc. in December 2014, Mr. Caira was President and Chief Executive Officer of Tim Hortons Inc. (July 2013-December 2014), a multinational fast food restaurant, a member of the executive board of Nestlé S.A. in Switzerland, a transnational food and beverage company, and Chief Executive Officer of Nestlé Professional. Mr. Caira holds a Diploma in Marketing Management from Seneca College, Toronto (1977) and is a graduate of the Director Program at The International Institute for Management Development, Lausanne, Switzerland.

Christie Clark

Mr. Christie J. B. Clark serves as Independent Director of the Company. Mr. Christie Clark is a corporate director. He serves as a director of Loblaw Companies Limited, a Canadian food and pharmacy retailer, Air Canada, a Canadian airline company, and Choice Properties Real Estate Investment Trust, an owner, manager and developer of retail and commercial real estate across Canada. He previously served as the Chief Executive Officer and Senior Partner of PricewaterhouseCoopers LLP from July 2005 to July 2011. Mr. Clark is a Fellow of the Institute of Chartered Professional Accountants of Ontario, and in addition to his public company board memberships, he is on the Board of the Canadian Olympic Committee and is a member of the Advisory Board of the Smith School of Business at Queen’s University. He is currently the Director in Residence for the Institute of Corporate Directors’ national short course, “Audit Committee Effectiveness”. Mr. Clark holds a Bachelor of Commerce degree from Queen’s University and a Master of Business Administration degree from the University of Toronto.

George Cooke

Mr. George L. Cooke is Independent Director of the Company. Mr. Cooke is a corporate director and the Chair of the board of directors of OMERS Administration Corporation, CANATICS (Canadian National Insurance Crime Services) and the Ontario Lottery and Gaming Corporation. Mr. Cooke is the former President and CEO of The Dominion of Canada General Insurance Company (The Dominion), a property and casualty insurance company, a position he held from 1992 to August 2012. In August 2012, Mr. Cooke retired from his role as President of The Dominion and continued to hold the position of Chief Executive Officer of The Dominion until December 31, 2012. Mr. Cooke obtained a Bachelor of Arts degree (Hons.) in Political Studies and a Master of Business Administration degree from Queen’s University. He also holds an Honorary Doctor of Laws degree from Assumption University in Windsor.

Margaret Harris

Ms. Margaret Harris serves as Independent Director of the Company. Ms. Marianne Harris is a corporate director. She is the chair of the board of directors of the Investment Industry Regulatory Organization of Canada (IIROC), a self-regulatory organization that oversees investment dealers and trading activity on debt and equity marketplaces in Canada. Prior to becoming a corporate director, Ms. Harris was Managing Director of the Bank of America Merrill Lynch and President, Corporate and Investment Banking for Merrill Lynch Canada Inc. In addition to her position as Chair of IIROC, she is a director of Sun Life Financial Inc. and Sun Life Assurance Company of Canada and Loblaw Companies Limited. Ms. Harris is also a member of the Dean’s Advisory Council at the Schulich School of Business (York University) and the Advisory Council of the Hennick Centre for Business and Law (York University). Ms. Harris holds a Master of Business Administration degree from the Schulich School of Business, a Juris Doctorate degree from Osgoode Hall Law School (York University) and a B.Sc. (Honours) from Queen’s University.

James Hinds

Mr. James D. Hinds is Independent Director of the Company. Mr. James Hinds is a corporate director. He is also a director of Allbanc Split Corp., a mutual fund company. He is a retired investment banker, having previously served as Managing Director of TD Securities Inc., prior to which he held positions at CIBC Wood Gundy Inc. and Newcrest Capital Inc. Mr. Hinds was the past chair of the Independent Electricity System Operator (IESO), a Crown corporation responsible for operating the electricity market, and was also chair of the former Ontario Power Authority Board of Directors (2010-2014) until its merger with the IESO effective January 1, 2015. Mr. Hinds received a Bachelor of Arts degree from Victoria College at the University of Toronto, a Master of Business Administration from the Wharton School of Business and a law degree from the University of Toronto Law School.

Kathryn Jackson

Dr. Kathryn J. Jackson, Ph.D., serves as Independent Director of the Company. Dr. Kathryn Jackson is a corporate director. She also heads the energy and technology consulting practice for KeySource, serving clients in business growth, technology development and energy services across commercial markets and in the U.S. federal sector. Until 2015, she was the Senior Vice President and Chief Technology Officer of RTI International Metals Inc. (2014-2015), a U.S. titanium producer, and also served as Head of Overall Research and Development Activities. Prior to joining RTI, Dr. Jackson was Senior Vice President and Chief Technology Officer at Westinghouse Electric Company, a U.S. nuclear power company. Dr. Jackson has also served as executive vice president of River Systems Operations and Environment and the corporate environmental officer at the Tennessee Valley Authority (TVA). In her 17 years with TVA, she was responsible for the management of the 6,000 megawatt hydropower system, flood control, navigation, dam safety, public lands management, environmental services, and research and development activities. Dr. Jackson is a director of Portland General Electric Company and Cameco Corporation and previously served as Chair of the Independent System Operator New England. She is an advisor to Carnegie Mellon University’s Engineering School and the Complex Engineered Systems program, and is a member of the advisory board of the Carnegie Mellon Electricity Industry Center. Dr. Jackson holds a Doctorate and a Master’s degree in Engineering and Public Policy from Carnegie Mellon University, a Master’s degree in Industrial Engineering Management from the University of Pittsburgh and a Bachelor’s degree in Physics from Grove City College.

Roberta Jamieson

Ms. Roberta L. Jamieson is Independent Director of the company. Ms. Roberta Jamieson is a Mohawk woman from the Six Nations of the Grand River Territory in Ontario, where she still resides. She is also President and Chief Executive Officer of Indspire, Canada’s premiere Indigenous-led charity, and Executive Producer of the Indspire Awards, a nationally broadcast gala honouring Indigenous achievement. Ms. Jamieson was the first First Nations woman to earn a law degree in Canada; the first non-parliamentarian appointed an ex-officio member of a House of Commons Committee; the first woman Ombudsman of Ontario (1989-1999); and in December 2011, she was the first woman elected Chief of the Six Nations of the Grand River Territory. She was also a Director of the Ontario Power Generation Inc. Board of Directors (2012-2015). Ms. Jamieson was appointed a Member of the Order of Canada in 1994 and promoted to an Officer in 2016. Ms. Jamieson holds a Bachelor of Laws from the University of Western Ontario.

Frances Lankin

Hon. Frances L. Lankin is Independent Director of the Company. She is a former President and CEO of the United Way – Toronto (2001-2010) and a former Member of Provincial Parliament for the Toronto (Ontario) riding of Beaches – East York (1990-2001). Ms. Lankin is a recognized leader in the non-profit sector and has been widely honoured for her contributions to the community, including Honorary Doctorate of Laws degrees from Queen’s University and Ryerson University, and an Honorary Doctorate of Education from Nipissing University. In 2009, Ms. Lankin was appointed to the Queen’s Privy Council for Canada and served for five years as a member of the Security Intelligence Review Committee. In 2012, she was appointed a Member of the Order of Canada. In 2014, Ms. Lankin was appointed to the Council whose mandate was to review and identify opportunities to modernize government business enterprises, and in 2011 and 2012, she coled a review of Ontario’s social assistance system as part of the province’s poverty reduction strategy. During her first term as an elected Member of Provincial Parliament, Ms. Lankin served in a variety of Cabinet roles including Chair of Management Board, Minister of Health and Long-Term Care, and Minister of Economic Development and Trade. Ms. Lankin is currently Chair of the National NewsMedia Council, a member of the Board of Directors of the Ontario Lottery and Gaming Corporation, and a member of the Institute of Corporate Directors.

Philip Orsino

Mr. Philip S. Orsino is Independent Director of the Company. He was the President and Chief Executive Officer of Jeld-Wen Inc., a global integrated manufacturer of building products from 2011 until he retired in 2014. Formerly until October 2005, Mr. Orsino was the President and Chief Executive Officer of Masonite International Corporation for 22 years. Mr. Orsino is a director of The Bank of Montreal and chair of its Audit and Conduct Review Committee and a director of The Minto Group, a private real estate developer, and Chair of the Audit Committee. He was the recipient of the 2003 Canada’s Outstanding CEO of the Year Award and received the University of Toronto’s Distinguished Business Alumni Award for 2002. He is a Fellow of the Chartered Accountants and holds a degree from Victoria College at the University of Toronto. Mr. Orsino was appointed an Officer of the Order of Canada in 2004.

Jane Peverett

Ms. Jane L. Peverett is Independent Director of the Company. She was President and Chief Executive Officer (2005-2009) of the British Columbia Transmission Corporation, which was responsible for the high voltage electricity transmission system in British Columbia. Prior to that, she was President and CEO of Union Gas Limited. Ms. Peverett currently serves as a director of the Canadian Imperial Bank of Commerce and chairs its Audit Committee, a director of Northwest Natural Gas Company, and a director of Canadian Pacific Railway. Ms. Peverett also serves as a director of Encana Corporation and chairs its Audit Committee, but will not be standing for reelection in 2017. Ms. Peverett earned a Bachelor of Commerce degree from McMaster University and a Master of Business Administration degree from Queen’s University. She is also a Certified Management Accountant, a Fellow of the Society of Management Accountants and holds the ICD.D designation from the Institute of Corporate Directors.

Gale Rubenstein

Ms. Gale Rubenstein is Independent Director of the Company. Ms. Gale Rubenstein is a partner of the law firm Goodmans LLP and a member of the firm’s Executive Committee. She practices law primarily in the areas of commercial insolvency and restructuring with emphasis on financial institutions, both domestic and international, and on pension restructurings. Ms. Rubenstein was senior counsel to the liquidators of numerous financial institutions and has been counsel to the Superintendent of Financial Institutions (Canada) and the Superintendent of Financial Services (Ontario). She has authored numerous papers on the insolvency of insurance companies and banks, and is an update author of LexisNexis Canada’s Insurance Companies Act: Legislation and Commentary. She obtained her Bachelor of Law degree from Osgoode Hall Law School (York University) and is a current Director of the Insolvency Institute of Canada; a member of Insol International; and a Director of the Osgoode Hall Alumni Association. She has been a Director of Hydro One Inc. since March 30, 2007.

Basic Compensation

Name Fiscal Year Total

David Denison

260,000

Mayo Schmidt

4,484,050

Michael Vels

1,699,310

Greg Kiraly

1,416,970

Judy McKellar

483,000

Paul Barry

--

Ferio Pugliese

2,872,350

James Scarlett

1,242,080

Ian Bourne

192,000

Charles Brindamour

160,000

Marcello Caira

160,000

Christie Clark

160,000

George Cooke

160,000

Margaret Harris

180,000

James Hinds

160,000

Kathryn Jackson

172,000

Roberta Jamieson

164,000

Frances Lankin

170,500

Philip Orsino

180,000

Jane Peverett

200,000

Gale Rubenstein

160,000
As Of  30 Dec 2016