#Bahamas #Nassau #Bahamas Grid #Dareo McKenzie #Gladys Fernander

Bahamas Grid Company Transitions to Fully Bahamian Leadership

In a historic move, the Bahamas Grid Company (BGC) has announced the appointment of Dareo McKenzie as its new Chief Executive Officer and Gladys Fernander, CPA, as Chief Financial Officer. This significant change signals BGC's commitment to becoming a fully Bahamian-led utility company, moving towards an independent operational model focused on providing reliable energy to the residents of New Providence.

The transition follows the conclusion of the management contract with Island Grid Solutions (IGS) on April 20, 2026. The resignation of Eric Pike and Mei Shibata, who previously held leadership roles in BGC, marks a new chapter for the company. Eric Pike, the former president, expressed gratitude for the opportunity to establish BGC and lead the largest network upgrade project in New Providence over the past two years. He highlighted the dedication of IGS employees and their commitment, which were vital to the achievement of this goal.

BGC’s current president, Anthony Ferguson, emphasized the board's appreciation for the contributions of Eric, Mei, and the entire IGS team. Their leadership and expertise were instrumental in transforming BGC into an operationally sound utility, bolstering New Providence's transmission and distribution system. Ferguson stated, “Now we move forward as an organization entirely led by Bahamians, committed to delivering long-term performance for our country, our children, and our grandchildren.”

Dareo McKenzie joins BGC with over 30 years of experience in the energy and infrastructure sectors. His previous roles include senior operational positions at GE Vernova and Consolidated Edison in New York. McKenzie has directed large-scale modernization and construction programs, managing capital portfolios worth billions of dollars. His extensive background in executing complex energy projects ensures a focus on reliability, resilience, and operational performance.

On the other hand, Gladys Fernander is a certified public accountant with more than two decades of executive financial leadership within regulated environments. As a former CFO of Commonwealth Bank, she oversaw comprehensive financial strategies, capital planning, treasury, and regulatory compliance. Fernander's expertise in governance, financial discipline, and institutional accountability is expected to be a great asset to BGC.

Ferguson expressed confidence in the operational and financial leadership that McKenzie and Fernander will bring. He articulated the importance of this transition, noting it reflects the strength and capability of Bahamians in leading organizations at all levels.

In the past two years, BGC has made significant strides in enhancing New Providence's electrical network, achieving a nearly 50% improvement in reliability. This progress has been bolstered by a $130 million infrastructure upgrade project. With the company's transition to a fully independent model, the focus will now shift towards disciplined management of the system to ensure its reliability and long-term performance.

About Bahamas Grid Company

Bahamas Grid Company (BGC) serves as the utility provider for New Providence, responsible for upgrading, maintaining, and operating the transmission and distribution infrastructure. The company's mission is to offer reliable, resilient, and sustainable energy solutions to all residents and businesses in the region.

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