The CEO of beleaguered Manitoba Hydro announced on Wednesday he is retiring, effective in November.
Kelvin Shepherd will step down as president and CEO of the Crown corporation on Nov. 16.
“It was a difficult personal decision for me to leave Manitoba Hydro,” he said in a statement sent to media. “Like any job, the position of CEO comes with both good and bad that one must accept and manage.”
“I have … done my best to lead our company through both the challenges and opportunities we have faced.”
The announcement comes months after Manitoba Hydro’s entire board quit en masse, citing communication difficulties between the board and Premier Brian Pallister.
The board, all appointed by the Conservative government, said they had been asking for a meeting with the premier and never granted one, despite Manitoba Hydro’s continuing ballooning debt and cost-saving measures, including 800 employee buyouts.
“It is concerning,” said Todd Mackay, Prairie Director of The Canadian Taxpayers Federation. “On one hand, we’ve got to look at this as a personal decision … on the other hand, Manitobans rightfully have a lot of questions about what’s going on at Manitoba Hydro.
“There’s big debt happening there, there’s rate increases coming down the pipe for a long time.”
Mackay said Manitobans still don’t know how Manitoba Hydro “got in this position” and how they accumulated so much debt, last pegged at more than $16 billion.
Crown Services Minister Cliff Cullen was not available to speak Wednesday, but the province sent out a statement to media:
“Our government wishes to thank Kelvin Shepherd for his dedicated service to Manitoba Hydro and to the betterment of this province. Manitoba Hydro has benefited from his leadership without question.
“Between overseeing completion of BiPole III and significant progress on Keeyask, streamlining the corporation to save over $90 million per year, as well as expanding energy exports in both Canada and the United States, Mr. Shepherd has advanced Manitoba Hydro immeasurably.”
But NDP leader Wab Kinew said Shepherd’s resignation was a “consequence of the Premier’s mismanagement” of Manitoba Hydro.
“At a time when we need strong leadership to keep our rates low, Mr. Shepherd’s resignation is another indication experts in Hydro have no confidence in this direction of this Government,” he said.
The search for a new CEO is underway, said Manitoba Hydro.
WATCH: Global News and CJOB’s Richard Cloutier discuss the resignation of Manitoba Hydro’s board:
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