New Brunswick Power CEO David Hay announces retirement

David D. Hay, the president and chief executive officer of New Brunswick Power Corp. since March 2004, announced he is retiring.

The announcement came a few days after the New Brunswick government revised its plan to sell most of NB Power to Hydro-Quebec for C$4.75 billion (US$4.49 billion). Instead, the government agreed to sell seven hydropower facilities and the Point Lepreau nuclear power plant for C$3.2 billion (US$3 billion). (HydroWorld 1/26/10)

“I look forward to taking a deep breath after six great years at NB Power,” Hay said. “With the government having finalized its negotiations with Quebec, this just feels like the right time to move on.”

Hay had two years left on his contract, which was extended for three years last spring.

Hay’s retirement is effective at the end of January 2010.

“David Hay retires having turned around the utility and made it a great place to work,” said New Brunswick Energy Minister Jack Keir. “His counsel leading up to this period of transition has been invaluable, and I thank him for his service to New Brunswickers.”

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