Hydro One to review executive pay at government’s request

Hydro One will review executive compensation at the urging of the Ontario Liberal government.

Energy Minister Glenn Thibeault issued a statement Monday evening, announcing the review.

The move comes weeks after PC leader Doug Ford promised to fire Hydro One CEO Mayo Schmidt and the board of directors if elected premier.

Ford blasted the utility for Schmidt’s $6.2 million salary in 2017.

According to the company’s annual shareholders report, Schmidt would be entitled to at least $10 million in severance if he were to be removed from the post.

 

 

2 COMMENTS

  1. Why did it take this long for Hydro one review executive pay. It should have been done years ago. Any money spent on behalf of the tax payer or those using public services. What warrants Hydro one to pay these wages they have in the past

  2. Why is it that these people sitting in their ivory tower feel they are worth this kind of money. Really they need this kind of money to live on when the peons are surviving on less than $40,000.00. This infuriates me. No one is worth this kind of money annually.

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