“These appointments reflect the strong level
of leadership and expertise on both Nalcor and
Hydro’s Board of Directors, and I look forward
to the valuable contribution each individual will
make in their new roles,”
The Rotman School of Management at the University of Toronto is questioning the appointment of four new appointments to the boards of Nalcor Energy and Newfoundland and Labrador Hydro
In a CBC report the head of the governance program at Rotman, Richard Powers, questions the appointments speculating that they are political appointments.
York University has weighed in as well. A board governance specialist, Dr. Richard Leblanc, is quoted saying that having qualified members drives shareholder value for taxpayers. Neither of the recent appointments brings much to the table in terms of experience in the industry or running major corporations.
The new chair has political and social connections to at least one MHA and Cabinet Minister. The operator of a beer distribution business in Stephenvill, he employs 10 people.
It would be interesting to hear former board chair Dean MacDonald's position on the appointments!