Firing Hydro One CEO Could be Very Costly

Friday, 13 April 2018 08:24
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P-C Leader Doug Ford's promise to fire the C-E-O of Hydro One and its board of directors if he's elected premier could be a costly move.

Documents suggest that Mayo Schmidt -- who earned a $6.2-million salary last year -- would be entitled to at least $10.7 million in severance if he were to be removed from his job by the board of directors.

That's according to the company's annual shareholders report, released on March 29.

Ford has suggested that Hydro One's leadership -- and their salaries -- are to blame for rising electricity costs in the province.

(The Canadian Press) 

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