October 1, 2019 - 8:33 AM EDT
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Emera Announces Leadership Changes

HALIFAX, Nova Scotia

Emera (TSX:EMA) today announced executive leadership changes at Emera Inc. and Nova Scotia Power Inc. (NSPI). Karen Hutt will become Executive Vice President, Strategy and Business Development at Emera Inc. and Wayne O’Connor will become President and CEO of NSPI. Both appointments are effective October 21.

“Wayne O’Connor and Karen Hutt are proven energy leaders whose deep industry experience has been instrumental in Emera’s growth,” says Scott Balfour, President and CEO of Emera Inc. “Wayne will bring his operational and strategy experience back to NSPI as it enters its next phase of delivering service innovations to customers and continuing the transition to cleaner energy. Karen returns to Emera Inc. to play a lead role in our next growth phase.”

Karen joined Emera in 2001 and held numerous senior leadership positions including Emera Energy’s Executive Vice President, Commercial, and President, Northeast Wind. She also served as Emera’s Vice President, Mergers and Acquisitions where she was part of the team that closed the transformational investment in TECO Energy. Karen was appointed President & CEO of NSPI in August 2016. (Full Bio)

“Nova Scotia Power is a great organization, full of talented people working hard every day to do the right thing for our customers. I am very proud of this team and our relationships with our customers, partners and stakeholders. The team has built a solid foundation and I know they will continue to advance the business on our path to renewable and affordable electricity for Nova Scotians,” says Karen.

Karen’s passionate leadership as President and CEO of NSPI has been felt inside and outside of the organization. Under her guidance, the team heightened its focus on customers, safety and delivering results. NSPI’s commitment to customers was never more evident than in the recent and impressive restoration efforts after Hurricane Dorian.

Wayne has held several senior leadership roles since joining Emera in 2003, including Executive Vice President, Operations, of Nova Scotia Power, and President and Chief Operating Officer of Emera Energy. In 2017, Wayne became Executive Vice President, Strategy & Business Development for Emera Inc. In this role, he developed a deep understanding of the rapidly changing energy industry— expertise that was critical as he played a central role in honing Emera’s strategy to position the company as a leader in this evolving landscape. (Full Bio)

“I’m looking forward to returning to the strong team at Nova Scotia Power at such an important time for the utility and its customers,” says Wayne. “Having spent the last several years closely examining the changes happening in our industry across North America, it’s clear that NSPI is well-positioned to keep delivering for customers and meeting the increasing demand for cleaner, affordable and reliable energy in Nova Scotia.”

These changes come at an important time for both organizations. At Emera, the team has recently completed a strategy renewal process, advanced significant portfolio optimization work and the company is well positioned to continue its disciplined approach to business development and growth. NSPI also completed a strategy refresh this summer and is in the process of launching its five-year roadmap that includes the ongoing decarbonization of its generation fleet, with a mandate to deliver safe, affordable and reliable power to Nova Scotian families and businesses.

Forward looking Information:
This news release contains forward‐looking information within the meaning of applicable securities laws. By its nature, forward‐looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward‐looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward‐looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Financial Risks and Uncertainties” in the notes to Emera’s annual financial statements, which can be found on SEDAR at www.sedar.com.

About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2018 revenues of more than $6.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.

About Nova Scotia Power
Nova Scotia Power Inc. is the largest wholly-owned subsidiary of Emera Inc. (TSX:EMA), a diversified energy and services company. Nova Scotia Power provides approximately 95 per cent of the generation, transmission and distribution of electricity in Nova Scotia, and serves about 500,000 residential, commercial and industrial customers across the province. It has 1,700 dedicated, safety-focused employees and more than $4 billion worth of generation, transmission and distribution assets. Learn more at www.nspower.ca.

Emera Inc.:
Jeff Myrick
902-428-7172
[email protected]
Nova Scotia Power Inc.:
Patti Lewis
902-233-6015
[email protected]


Source: Business Wire (October 1, 2019 - 8:33 AM EDT)

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