Emera Inc. Announces Leadership Transition at Emera Energy

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today, Emera Inc. (TSX/NYSE:EMA) announced that Judy Steele, President and Chief Operating Officer of Emera Energy, will retire effective June 30, after 26 years with Emera.

Over her career with Emera, Judy held several senior leadership roles, including Chief Financial Officer of Emera Inc., and spent the past 14 years leading Emera Energy. During her tenure, Emera Energy expanded its footprint across North America, increased its contribution to Emera’s overall earnings, and built a strong, experienced team.

Karen Hutt will become CEO of Emera Energy upon Judy’s retirement, in addition to her current role as Executive Vice-President, Corporate Development at Emera Inc. Karen has held a number of senior leadership roles across Emera, including Executive Vice-President, Commercial at Emera Energy and President and CEO of Nova Scotia Power. Drew Turner has been named Chief Operating Officer of Emera Energy, leading the Emera Energy team, and reporting to Karen. Drew has been with Emera Energy for 18 years in a broad series of Commercial roles, most recently Vice-President, Commercial Operations where he was responsible for Natural Gas Logistics and Commercial Power Operations functions.

“We are grateful for Judy’s leadership and the indelible mark she has left on Emera, with her strategic insight, financial discipline, and commitment to building the skilled team at Emera Energy,” said Scott Balfour, President and Chief Executive Officer, Emera Inc. “Karen brings a breadth of leadership and energy market experience that will strongly support Drew and the team in the continued success and contributions of this important business.”

“I’m proud of what our teams have built at Emera Energy and grateful for the opportunities I’ve had during my career at Emera,” said Judy Steele. “Emera Energy has a strong foundation, a talented team, and I look forward to seeing its continued success.”

“These appointments reflect Emera’s focus on leadership continuity and internal succession,” said Karen Hutt. “Judy leaves Emera Energy with an excellent foundation, and I look forward to working with Drew and the team as we build on that legacy and continue to move the business forward.”

Forward Looking Information

This news release contains forward‐looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of applicable U.S. securities laws including without limitation, the U.S. Private Securities Litigation Reform Act of 1995, (collectively, “forward-looking information”), with respect to Emera and Emera Energy, including leadership transition plans and expectations for future business growth and development. Undue reliance should not be placed on this forward-looking information, which applies only as of the date hereof. By its nature, forward‐looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. This forward-looking information reflects Emera management’s current beliefs and is based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward‐looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from those expressed or implied by such forward‐looking information. The forward-looking information in this news release is made only as of the date hereof, and except as required by law, Emera disclaims any intention or obligation to update or revise any forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Financial Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR+ at www.sedarplus.ca.

About Emera

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,600 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange. Additional information can be accessed at www.emera.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.