Board of directors

Board leadership at BC Hydro

The board is appointed by the Lieutenant-Governor in Council and is responsible for overall direction. Day-to-day leadership and management of the corporation is delegated to the President & Chief Operating Officer.

Kenneth G. Peterson, Executive Chair of the board

Kenneth G. Peterson was appointed chair of BC Hydro on July 19, 2017.

Mr. Peterson's 40-year career spans a wide range of assignments in the electricity industry. The last 10 years of his professional career were spent as CEO of Powerex, the marketing and trading subsidiary of BC Hydro. He also served as a trustee of the North American Electric Reliability Corporation since 2006, where he applied his industry experience to the physical and cyber-security reliability challenges facing utilities.

The Executive Chair's role and responsibilities

The chair provides leadership to the board and coordinates its activities in the best interests of BC Hydro. In performing this role, the chair manages the affairs of the board and works closely with the President & COO to ensure effective relations with the B.C. government, the public and other stakeholders.

Directors

Directors are mandated to be stewards of the corporation. As a member of the board, directors are responsible for overseeing conduct of business, supervising management and ensuring that all major issues affecting the business affairs of the corporation are given proper consideration.

While directors are selected to reflect the industrial, economic, social, ethnic, and regional diversity of our province, appointees will include persons with business, utility and energy industry experience to ensure the appropriate balance of expertise necessary for overseeing a large commercial enterprise.

The Lieutenant-governor in Council appoints BC Hydro's directors.

In its desire to act, and be seen to act as an ethical corporation, BC Hydro and its subsidiaries have adopted a director and employee code of conduct.

Corporate secretary

The corporate secretary supports the board by organizing and recording activities of the board and committee meetings. The corporate secretary also provides advice to the board, directors and employees to ensure compliance with BC Hydro's governance framework.

Fees & expenses

The Financial Information Act return lists the remuneration and expenses by director. The chair's compensation is determined by the B.C. Provincial Government.

Expenses

Directors are reimbursed for travel and accommodation costs incurred to attend board and committee meetings. Expenses are paid upon receipt of a completed expense claim form with supporting receipts. An annual report on director expenses is made to the Audit and Finance Committee.

Fees

Meeting fees and retainers [PDF, 34 KB] are paid to directors on a quarterly basis in accordance with Treasury Board Directive 2/17 dated December 15, 2016. The Provincial Government website has the guidelines [PDF, 661 KB] for remunerating Crown Agency Boards.

Additional fees are paid to directors serving on the boards of subsidiaries, task groups or advisory committees.

Board governance

Composition and succession

The board reviews the skills, experience, background and diversity of the board in relation to BC Hydro's strategic direction. The Executive Chair communicates the results of this review to the B.C. Provincial Government through the B.C. Board Resourcing and Development Office (BRDO), access to which can be made through the Provincial Government website.

The board and the Executive Chair review the competency mix, assess whether competency gaps exist in relation to BC Hydro's strategic direction, and make recommendations to the BRDO that supports an effective board renewal strategy.

Orientation and professional development

Special orientation sessions are held for new directors. The focus of the sessions depends upon the particular knowledge of the appointee.

Upon appointment, directors also receive a manual that provides guidance on board governance issues, as well as other important information such as the Service Plan and the Government mandate letter.

To promote board development, tutorial evenings are held quarterly to review strategies, complex business issues or specific aspects of BC Hydro's business. In addition, board retreats are held annually with other board sessions scheduled during the year as circumstances require.

Board, committee and director assessment

The board evaluation process is organized in consultation with the Executive Chair and the Governance & Human Resources Committee. Typically a formal process takes place every two years (even numbered fiscal years). Details of the process will be designed around the needs and wishes of the board chair from time-to-time. In the intermittent year, an informal evaluation will take place with each director participating in a one-on-one discussion with the Executive Chair.

In consultation with the board chair, the Governance & Human Resources Committee will review the evaluation findings and report to the board of directors.

Meetings

Details regarding the number of board and committee meetings held and attended by each director during the past fiscal year will be available in BC Hydro's annual Financial Information Act return.