Tim Hodgson Steps Down as Chair of Hydro One Board of Directors

Tim Hodgson Steps Down as Chair of Hydro One Board

In a significant development for Hydro One Limited, Tim Hodgson has recently announced his resignation from his role as Chair of the Board of Directors. This decision comes on the heels of his successful campaign during the federal elections, where he opted for an unpaid leave of absence to participate. Following this transition, the Hydro One Board has commenced the search for a new Chair to guide the organization forward.

During this interim period, Susan Wolburgh Jenah will take on the responsibilities of Interim Chair, continuing her vital role as the Chair of the Governance and Regulatory Committee. This change in leadership is poised to steer Hydro One through the upcoming challenges and opportunities in the energy sector.

As Ontario’s largest electricity transmission and distribution provider, Hydro One Limited serves approximately 1.5 million customers. The company’s extensive asset base, amounting to around $36.7 billion as of December 31, 2024, positions it as a leader in the industry. The company reported annual revenues of about $8.5 billion in 2024, underscoring its strong financial standing amid a competitive marketplace.

Hydro One’s workforce of roughly 10,100 skilled employees is dedicated to sustaining a safe and reliable electricity system, which is essential for the well-being of the communities they serve. The organization made significant investments in 2024, channeling approximately $3.1 billion into its transmission and distribution networks, thereby supporting local economies through the procurement of $2.9 billion in goods and services.

In addition to its financial commitments, Hydro One is actively dedicated to community engagement through various initiatives focused on investment, sustainability, and diversity. This commitment reflects the company’s understanding of its social responsibility and role in fostering strong community ties.

With Hodgson's departure, many stakeholders are closely monitoring how this leadership shift will influence Hydro One's strategies moving forward. The Board’s commitment to a seamless transition to new leadership is paramount, ensuring that the organization continues to fulfill its mission of delivering reliable utility services.

The transition occurs at a time when the energy sector faces challenges such as evolving regulatory frameworks and the integration of new technologies. As Hydro One continues to adapt and navigate these changes, the new Chair will play a crucial role in guiding the organization toward innovative solutions that can enhance service delivery and community relations.

Hydro One Limited's common shares are publicly traded on the Toronto Stock Exchange (TSX: H), with select medium-term notes listed on the New York Stock Exchange (NYSE). For further information about the organization, stakeholders are encouraged to visit the Hydro One website or relevant investor relations platforms.

In conclusion, while the board begins its search for Hodgson’s successor, the company remains on a strong trajectory, committed to its customer base and the community it serves.