QUEENS PARK – POLITICS – Minister Greg Rickford held a press conference this morning on the subject of Hydro One CEO and Board compensation.
The Minister stated that it is the hope of the Ontario Government that the Hydro One Board will follow the recommendations of the government on the compensation for the executive and board.
Minister Rickford says, “For 15 long years, the previous government stood idly by and let exec compensation at Hydro One grow out of control. We were elected to clean up the hydro mess and will take any action necessary if Hydro One doesn’t drastically cut its proposed CEO pay. Our government will always put Ontarians 1st”.
In a letter issued on Thursday, Minister Rickford said, “If Hydro One refuses to bring the compensation framework in line with these requirements by Thursday, February 14th at 5:00 pm, our government is prepared to take any and all action necessary”.
On Thursday, Hydro One posted the Board stand on executive compensation.
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