Hydro One Board Appoints Mayo Schmidt as President & CEO

The Board of Directors for Hydro One has appointed Mayo Schmidt as incoming President and CEO, taking over from Carmine Marcello who will remain as an advisor to both Schmidt and board chair David Denison. Schmidt assumes this role on September 3, as Hydro One prepares for its transition to a publicly traded company.

"As the former CEO of Viterra and its predecessor, Saskatchewan Wheat Pool, Mr. Schmidt has an admirable track record of leading large scale business transformation and growth while generating value and benefits for investors, employees and customers alike,” says Denison

At Viterra, Schmidt transformed a relatively small regional co-operative into a publicly held, multibillon dollar corporation with nearly 7,000 employees and operations around the world. In recognition of his accomplishments at Viterra, Schmidt was named "Chief Executive of the Year in 2009" by Canadian Business Magazine. Mr. Schmidt's most recent activities include leading a number of international growth and development projects.

"The opportunity to lead Hydro One through this critical transformation is both energizing and exciting," said Mr. Schmidt. "I believe we can shape Hydro One into the finest energy company of its kind globally, with a strengthened culture of service and customer satisfaction along with best-in-class performance which in turn will create avenues for new growth. This is the beginning of an enormous opportunity for all of us within Hydro One."

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