People Moves: Hydro One Limited appoints Bill Sheffield as Interim President and CEO after Mark Poweska accepts new role

22/06/2022

Press Release - Hydro One Limited (Hydro One) announced that Mark Poweska will be stepping down as President and CEO to assume a leadership position at a utility closer to his family in Western Canada later this year. William (Bill) Sheffield, a member of the company's Board of Directors since 2018, has been appointed Interim President and CEO of Hydro One. Poweska will remain with Hydro One as an advisor to support Sheffield with the transition.

"On behalf of the board of Board of Directors, I want to thank Mark for his exceptional leadership and for building a strong executive team who have put customers and communities first to deliver greater value for stakeholders, shareholders and all Ontarians," said Tim Hodgson, Chair of the Board of Hydro One. "Since joining in 2019, Mark introduced an Ontario-focused strategy which has successfully delivered operational and customer excellence, improved outcomes in employee safety, and a strong commitment to environmental, social and governance issues."

"I would like to thank Hydro One's Board, leadership team and every employee for your dedication and passion, especially over the last couple years as we supported customers and communities across Ontario," said Mark Poweska, former President and CEO of Hydro One. "I am confident that the strategy and team we have built together will continue to deliver greater value for customers, communities, employees and shareholders."

"The entire Board and management team recognizes the critical role Hydro One plays in meeting customer needs and enabling economic growth in the province," said Bill Sheffield, the Interim President and CEO of Hydro One. "I am honoured to lead this exceptional team as we continue to energize life for people and communities across Ontario."

Bill Sheffield is a highly-regarded leader with experience in the electricity industry in Ontario who will provide continuity as the company delivers on its commitments. He will leverage Hydro One's significant bench-strength to further advance the company's vision, mission and strategy as the Board of Directors begin a thorough CEO selection process.