News Release

President and CEO Dave Cobb leaving BC Hydro for leadership position in private sector

VANCOUVER, BC – Dan Doyle, Chair of the Board of BC Hydro announced today that BC Hydro President and CEO Dave Cobb is stepping down from his role with the utility to take a senior position with The Jim Pattison Group.

BC Hydro’s Board of Directors will appoint an acting CEO shortly and Dave Cobb will remain with BC Hydro until November 30 to ensure a smooth transition. The search for a new President and CEO will commence immediately.

Quotes:

Rich Coleman, Minister of Energy and Mines
“I want to thank Dave for his dedication and service to BC Hydro.  I am confident that his strategic leadership through the BC Hydro Review has set the stage to keep electrical rates as low as possible for British Columbians.  I wish Dave every success in his future endeavors.

Dan Doyle, Chair of BC Hydro’s Board of Directors

“Dave has successfully led a team that has positioned BC Hydro to meet the economic growth of our province and the electricity demands for British Columbia well into the future.

As President and CEO, Dave has helped shape the direction of our company during a time of important economic growth and investment in B.C.” continued Doyle. “From his first day, Dave championed both a “safety first” and team approach, setting the foundation for a more strategic and cost efficient company. On behalf of the Board of Directors and the entire BC Hydro team I thank him and look forward to continuing to build on his work as we continue to keep rates low while safely and reliably meeting the needs of our customers.”

Dave Cobb, President and CEO

“BC Hydro helped build our province and I’ve truly been honoured to lead the team during such an exciting and important time in our history. And while I would welcome the opportunity to continue meeting the challenges and opportunities inherent in my role, I’ve been presented with an unexpected, once-in-a-lifetime career opportunity with another iconic B.C. company that I simply could not pass up. I leave with great confidence that the world class Board of Directors and Executive Team and everyone who works tirelessly to keep the lights on everyday will continue their unwavering commitment to our province and our customers.

Dave Cobb joined BC Hydro as President and CEO on May 25, 2010, following six years as Executive Vice President and Deputy CEO for the 2010 Olympic and Paralympic Winter Games.

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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