A shakeup at NB Power with Keith Cronkhite out as president and CEO.
The board of directors announced today that Lori Clark, senior vice president of operations, replaces him in an acting role.
Board chair Charles V. Firlotte says, “As we look to the future we are facing unprecedented challenges with a global energy crisis that is adding more cost pressure and exacerbating already excessive debt levels; pressing federal regulations for the phasing out of fossil fuels; and a need to support New Brunswickers with the rapid adoption of greener energy solutions. As such, the Board has concluded we must embark on a significant transformation of the organization.”
The board has also retained Price Waterhouse Canada to lead a strategic review, including identifying immediate ways to optimize the current cost structure and meet debt obligations.
It will also find alternative solutions to meet New Brunswickers’ power needs in a cost-competitive, reliable and environmentally sustainable way.
The board is initiating an executive search for a president and CEO. This process is expected to take several months.
