Province order Hydro One to cap CEO’s salary

The provincial government is drawing a firm line on the salary for Hydro One’s CEO.

Energy Minister Greg Rickford says he has issued a formal directive to cap the pay at $1.5 million a year.

Hydro One had submitted a proposal for maximum CEO compensation to be nearly $2.8 million, saying it was taking into account the need to attract and retain highly qualified leadership.

The Progressive Conservatives campaigned hard against Hydro One salaries in last year’s election campaign, dubbing then-CEO Mayo Schmidt the “six-million-dollar man,” and after they were elected, one of the government’s first acts was to force Schmidt’s resignation.

(Photo:Twitter@GregRickford)

Posted in News & Sports

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