Hydro One announces Tim Hodgson as new Chair of the Board

Hydro One Limited ("Hydro One"), Ontario's largest electricity transmission and distribution company, announced that Tim Hodgson has been appointed by the Board of Directors to serve as the Chair of the Board commencing August 1, 2019.

"I look forward to serving as Chair of this great company. Hydro One has an incredibly important mandate in serving the people of Ontario. This company is committed to outstanding service to nearly 1.4 million customers, reducing costs and continuing to invest in a safe and reliable electricity system that supports Ontario's growing communities and thriving economies," said Tim Hodgson, member of the Board of Directors, Hydro One. "The Board fully supports management's focus on delivering greater value for its customers, employees, communities and shareholders."

"Tim, who is a member of our Board, is a highly qualified leader with deep business and policy experience," said Blair Cowper-Smith, Chair of Hydro One's Governance Committee. "Tim has proven capabilities and experience enabling him to provide leadership to the Board as it carries out its oversight responsibilities of Hydro One."

Mr. Hodgson is Managing Partner of Alignvest Management Corporation, a private alternative asset management firm, and is also a Director of Alignvest Acquisition II Corporation listed on the Toronto Stock Exchange. He is the Chair of the Investment Committee of PSP Investments, one of Canada's largest pension investment managers which invests funds for the pension plans of the federal Public Service, the Canadian Armed Forces and the Royal Canadian Mounted Police. Mr. Hodgson's background includes time as a Special Advisor to the Governor of the Bank of Canada, and a number of roles with Goldman Sachs including serving as Chief Executive Officer of Goldman Sachs Canada.

Mr. Hodgson replaces Tom Woods, who is stepping down from the Board of Directors effective July 31, 2019.