Jo Mark Zurel to Succeed Douglas J. Haughey as Chair of the Board of Fortis Inc. Effective January 1, 2023
July 28 2022 - 6:02AM
The Board of Directors of Fortis Inc. ("Fortis" or the
"Corporation") (TSX/NYSE: FTS) today announced that Douglas J.
Haughey will be stepping down as Chair of the Board and Jo Mark
Zurel will be appointed Chair of the Board, effective January 1,
2023.
The pending transition reflects the
Corporation's board succession planning process and follows the
recommendation of the ad hoc Board Chair Selection Committee that
was formed in 2021. Mr. Haughey will remain on the Board until the
next annual meeting.
Mr. Haughey has chaired the Fortis Board since
September 2016. During his tenure he provided exemplary leadership
through a period during which the Corporation pivoted to a
strategic focus on organic growth following its expansion into the
United States. The Board expressed appreciation to Mr. Haughey for
his invaluable contribution to Fortis and thanked him for his
efforts in ensuring a timely and effective transition to the new
Chair.
"Doug Haughey is a highly skilled Chair who
focuses on the key strategic issues and brings out the best in
every Director. He is a gifted communicator and facilitator who
will leave a legacy of excellence in board governance," said David
Hutchens, President and Chief Executive Officer and a Director of
the Corporation. "I would also like to welcome Jo Mark Zurel to his
new role. He is an experienced and well-respected Director, and I
am confident he will excel in this important leadership role."
Mr. Zurel has been a Fortis board member since
2016, served on the Corporation's Audit and Human Resources
Committees and served as Chair of the Human Resources Committee
from 2018 to 2022. He served on the Board of Directors of
Newfoundland Power Inc. from 2008 until 2016, including as Chair
from 2012 to 2016.
Mr. Zurel graduated from Dalhousie University
with a Bachelor of Commerce. He is a Fellow of the Association of
Chartered Professional Accountants of Newfoundland and Labrador and
holds an ICD.D designation from the Institute of Corporate
Directors.
About FortisFortis is a
well-diversified leader in the North American regulated electric
and gas utility industry with 2021 revenue of $9.4 billion and
total assets of $60 billion as at June 30, 2022. The Corporation's
9,100 employees serve utility customers in five Canadian provinces,
nine U.S. states and three Caribbean countries.
Fortis' shares are listed on the TSX and NYSE
and trade under the symbol FTS. Additional information can be
accessed at www.fortisinc.com, www.sedar.com or
www.sec.gov.
A .pdf version of this press release is
available
at: http://ml.globenewswire.com/Resource/Download/4bc4fed9-ace5-4175-ae35-e157edcb8aa2
For more information, please
contactInvestor Enquiries:Ms. Stephanie AmaimoVice
President, Investor RelationsFortis
Inc.248.946.3572investorrelations@fortisinc.com
Media Enquiries:Ms. Karen McCarthyVice
President, Communications and Corporate AffairsFortis
Inc.709.737.5323media@fortisinc.com
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