Charles Reid named BC Hydro's Acting President and CEO
VANCOUVER, BC – Dan Doyle, Chair of the Board of BC Hydro announced today that the Board of Directors has named Executive Vice-President, Finance and Chief Financial Officer Charles Reid as BC Hydro’s Acting President and Chief Executive Officer.
Reid, who joined BC Hydro in 2008 after a long career in senior financial roles, will assume his new role on December 1 after spending several weeks transitioning responsibilities with outgoing President and CEO Dave Cobb. On October 19, Cobb announced that effective November 30, he is joining The Jim Pattison Group.
“Appointing Charles Reid as Acting President and CEO ensures our Executive leadership team remains strong and that we can continue seamlessly in our work to cut costs, keep rates low, and evolve BC Hydro into one of North America’s most efficient utilities,” said Doyle.
“Charles has 35 years of combined manufacturing and utility industry experience and is a vital member of our leadership team, with engagement in all operational areas. Following on our own cost cutting measures and the subsequent recommendations from the recent Government Review, there is much to be done to further trim our costs while continuing to deliver safe reliable power and invest in critical electricity infrastructure. We have full confidence that he will do an excellent job while the Board search for a new President and CEO is underway.”
“I’m pleased that the Board of Directors has appointed Charles Reid to the position of Acting President and CEO,” said Minister of Energy Rich Coleman. “Charles will bring a steady hand at the helm as BC Hydro moves forward in finding a permanent replacement.”
The Board of Directors will be determining the selection process for a new President and CEO at their quarterly meeting scheduled for mid-November.
Charles Reid’s bio and photo is available online at: http://www.bchydro.com/about/who_we_are/executive_team
About BC Hydro
Fifty years ago, British Columbians turned to BC Hydro to build the clean electricity system they count on to power B.C.'s economy, create jobs in every region, and keep the lights on. Now, BC Hydro is building again for the next 50 years. B.C. continues to grow and so has the need for more electricity. That’s why BC Hydro is building and renewing electricity infrastructure, and encouraging conservation to meet today’s needs and those of future generations. In 2011, BC Hydro is celebrating 50 years of providing power for British Columbians, and inviting them to help prepare for the next 50 years.
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For more information, please contact:
BC Hydro Media Relations
Direct: 604 928 6468
Web: www.bchydro.com/media