#Canada #Toronto #Hydro One #electricity #Megan Telford

Hydro One Limited Welcomes a New Era with Leadership Change

Hydro One Limited has officially announced the appointment of Megan Telford as the new President and CEO, a pivotal move that follows the retirement of former chief David Lebeter. This leadership change is set to steer the company into its next chapter, emphasizing continuity and innovation in the electricity sector.

Megan Telford, who joins the executive team on June 9, 2026, had previously been nominated as one of the 10 board candidates during the company’s Annual Meeting of Shareholders. Expressing her enthusiasm for the new role, Telford said, "I am honored to lead Hydro One into a new phase of growth and sustainability, working with an exceptional team to serve our valued customers and communities."

A Change in Leadership

The transition comes at a crucial time for Hydro One as it continues to address the challenges and opportunities within the energy industry. Board Chair Melissa Sonberg extended a warm welcome to Telford, stating, "We are excited to work alongside Megan as she leads Hydro One into its next chapter." Her leadership is anticipated to focus on enhancing the company's operational efficiency and strategic growth initiatives.

Other board members, including Helga Reidel and Mitch Panciuk, were acknowledged for their years of service and contributions towards the company's achievements. The shareholder meeting also witnessed robust voting activity, with 505,469,897 shares representing 84.23% of the company’s outstanding common shares participating in the election of directors.

Election of Directors

In the recent voting, a series of directors were elected to guide Hydro One's future:

• - Perrin Beatty - 99.84% approval
• - David Hay - 99.67% approval
• - Debbie Hutton - 99.84% approval
• - Stacey Mowbray - 99.94% approval
• - Mark Podlasly - 99.97% approval
• - Michael Rencheck - 99.80% approval
• - Melissa Sonberg - 97.22% approval
• - Megan Telford - 99.97% approval
• - Brian Vaasjo - 98.21% approval
• - Susan Wolburgh Jenah - 98.74% approval

This new leadership structure is expected to build upon Hydro One's commitment to delivering service excellence while fostering community engagement and sustainability.

Community Engagement and Sustainability Initiatives

With over 1.5 million customers, Hydro One is Ontario's largest electricity transmission and distribution provider and has reported significant assets amounting to $39.7 billion as of December 31, 2025, alongside annual revenues of $9 billion. The company has showcased its dedication to community investment with a recent $3.4 billion investment in its transmission and distribution networks, further enhancing the reliability of electricity services across the region.

The transition under Telford's leadership is also expected to underscore Hydro One's commitment to diversity and sustainability initiatives, aiming to create a strong and thriving community and workforce.

Forward-Looking Statements

Hydro One's releases may contain forward-looking statements, providing insights into anticipated performance and strategies. However, the actual outcomes may differ due to various risks and uncertainties related to market conditions and operational execution. Stakeholders are encouraged to refer to the company's website for ongoing updates and in-depth reporting on its strategic direction and financial standing.

For more about Hydro One's initiatives and ongoing projects, please visit www.hydroone.com. This site includes links to valuable resources such as securities filings and historical financial reports.

Conclusion

The appointment of Megan Telford marks a significant milestone for Hydro One, as the company continues to adapt and thrive in an ever-evolving energy landscape. With a solid leadership team in place, Hydro One is poised for a bright future, consistently aiming to meet the needs of its customers and contribute to the betterment of the communities it serves.