Thomas D Woods Nominated For Hydro One Board

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(ONTARIO) โ€“ Ontario has nominated Thomas D. (Tom) Woods as the first of its four nominees for the new Board of Directors at Hydro One.

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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. Josephโ€™s St. Michaelโ€™s Health Care (Board Chair) and CIBC Childrenโ€™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.

โ€œTom Woods has all of the strengths you want in a senior director,โ€ said Greg Rickford, Minister of Energy, Northern Development and Mines. โ€œWe are renewing the leadership at Hydro One to guide the company with a steady hand while ensuring ratepayers are always respected.โ€

As the companyโ€™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.

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Source: Government of Ontario

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