Nov 14, 2012
TORONTO, Nov. 14, 2012 /CNW/ - The Hydro One Board of Directors today appointed Carmine Marcello to the role of President and Chief Executive Officer of Hydro One Inc. Carmine Marcello assumes his responsibilities effective January 1, 2013, following the planned retirement of outgoing President and Chief Executive Officer, Laura Formusa.
"The Hydro One Board of Directors is pleased to confirm the appointment of Carmine Marcello to the position of President and Chief Executive Officer, Hydro One," said James Arnett, Chair of the Board of Directors, Hydro One. "Carmine is a respected and highly qualified executive who brings not only extensive technical experience to the role but also critical business acumen. He is well-positioned to lead the Company."
He added, "On behalf of the Board of Directors, I would like to recognize Laura Formusa's outstanding contributions to this Company over a long and dedicated career and wish her well in her retirement."
Mr. Marcello said, "I am proud of the value that Hydro One employees bring to the Province of Ontario each and every day. I will work to ensure their safety and I am looking forward to leading the Company as it continues its transformation into the utility of the future."
Carmine Marcello has over 25 years' experience with Hydro One as a senior executive, strategic planner and advisor on transmission and distribution utility processes in the electric utility industry.
Since November 2010, Mr. Marcello has held the position of Executive Vice President, Strategy and Planning for Hydro One. In March 2009, Carmine was appointed to the position of Senior Vice President, Asset Management and was responsible for the life cycle management of Hydro One's transmission and distribution assets including Hydro One's Smart Grid initiative. He was appointed Vice President, Corporate Projects in March 2007 and was responsible for the oversight and delivery of enterprise-wide business transformation projects. From 2005 to 2007, he led the transformation of Hydro One's Ontario Grid Control Centre.
Carmine has served on the North American Electric Reliability Corporation (NERC) Member Representatives Committee (MRC) and in 2011 he was elected to the North American Transmission Forum Board of Directors for a two-year term.
Carmine has a Masters of Business Administration from York University, a Bachelor of Applied Science in Electrical Engineering from the University of Toronto and holds an ICD.D designation from the Institute of Corporate Directors.
Hydro One delivers electricity safely, reliably and responsibly to homes and businesses across the province of Ontario and owns and operates Ontario's 29,000 kilometre high-voltage transmission network that delivers electricity to large industrial customers and municipal utilities, and a 123,000 kilometre low-voltage distribution system that serves about 1.3 million end-use customers and smaller municipal utilities in the province. Hydro One is wholly owned by the Province of Ontario.
SOURCE: Hydro One Inc.
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