Emera Inc. Announces Changes to Board of Directors
HALIFAX, Nova Scotia--(BUSINESS WIRE)--The Board of Emera Inc. (TSX:EMA) today announced plans for the transition of the Chair of the Board of Directors.
“Over the course of his tenure Emera has maintained a top quartile position in its governance practices and delivered record growth for shareholders.”
John McLennan has announced he will step down as Chair of the Board on May 7th, 2014, immediately following Emera’s Annual General Meeting. Jackie Sheppard, current Board Director, Emera Inc., will take over as Chair on the same day. Mr. McLennan, who has served as Chair since 2009, will continue as a Director.
"John has provided tremendous counsel and leadership to the Board and leadership team at Emera,” said Chris Huskilson, President and Chief Executive Officer, Emera Inc. “Over the course of his tenure Emera has maintained a top quartile position in its governance practices and delivered record growth for shareholders."
Ms. Sheppard has been an Emera Director since 2009 and a Director of Emera Newfoundland and Labrador Holdings since 2011. She has also served as a member of Emera’s Audit Committee, Management Resources and Compensation Committee and the Technology and Development Committee. Ms. Sheppard’s extensive knowledge in the energy industry and experience as a corporate executive and corporate director have proven to be a valuable asset to the Emera Board. Ms. Sheppard has made invaluable contributions to the Board’s oversight of the Company’s strategy and business development initiatives and has played a key role in the company’s participation in the Muskrat Falls, Labrador Island Link and Maritime Link projects.
Ms. Sheppard was formerly a member of the senior leadership team at Talisman Energy Inc. and was a major contributor to the company’s growth strategy during a period of exceptional expansion. During her 15 years with the company she held various senior positions including Executive Vice President, Corporate & Legal with responsibility for corporate strategy, business development, mergers and acquisitions, corporate communications, investor relations, corporate responsibility and legal affairs.
Ms. Sheppard was born and raised in Newfoundland and received her undergraduate degree from Memorial University. Ms. Sheppard is a Rhodes Scholar, having received an Honours Jurisprudence, Bachelor of Arts and Master of Arts from Oxford University. She also went on to receive her Bachelor of Laws (Honours) degree from McGill University.
"Emera is fortunate to have had Jackie as a Board Director. She has been an invaluable part the Company's growth," said Chris Huskilson. "We appreciate her continued dedication and, as Chair, I am confident that she will make a significant contribution to Emera’s ongoing success. The leadership team at Emera looks forward to working with Jackie as she takes on this new role.”
During his time as Chair, Mr. McLennan oversaw Board governance and led the recruitment of Emera’s current Board members. Emera’s significant achievements and acquisitions under Mr. McLennan’s leadership have included the acquisition of Bayside Power, the purchase of the Digby Wind Park, a strategic partnership with Algonquin Power, the acquisition of Maine Public Service, investment in First Wind, the acquisition of a majority interest in Light & Power Holdings in Barbados, the acquisition of majority interest of Dominica Electricity Services Ltd., in the Caribbean, as well as three natural gas fired generation plants in New England. During Mr. McLennan’s tenure, he also played a key role in the creation and implementation of Emera’s partnership with Nalcor Energy in the Muskrat Falls, Labrador Island Link and Maritime Link projects.
Mr. McLennan is the former Vice Chair and Chief Executive Officer of Allstream Inc. (formerly AT&T Canada). He was President and CEO of Bell Canada and served as Chair and CEO of BCE Mobile Communications, Inc. Mr. McLennan currently serves as a Director on the Boards of Amdocs Ltd. and Chorus Aviation. A Nova Scotia native, he has been a Director of Emera Inc. since 2005. Mr. McLennan was also a Director for Nova Scotia Power from 2005 to 2013, serving as Chair from 2006 to 2009. Mr. McLennan is former Chancellor of Cape Breton University where he also received an Honorary Doctorate degree. He is a graduate of Clarkson University in New York State where he earned his Bachelor of Science, Master of Science and Honorary Doctorate of Science degrees.
Forward Looking Information
This news release contains forward looking information. Actual future results may differ materially. Additional information related to Emera, including the company’s Annual Information Form, can be found on SEDAR at www.sedar.com.
Emera Inc. is an energy and services company with $8.0 billion in assets and 2012 revenues of $2.1 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in three Caribbean countries. More than 80% of the company's earnings come from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.C, and EMA.PR.E. Additional information can be accessed at emera.com, or on sedar.com.