Hydro One chairman Tom Woods stepping down at the end of July

TORONTO – Hydro One Ltd. says chairman Tom Woods is stepping down from its board of directors at the end of July.

Woods was among the 10 new directors named last year as replacements after for the company’s previous board resigned amid pressure from Ontario’s Progressive Conservative government.

The former CIBC executive helped lead Hydro One through several key milestones including the hiring of Mark Poweska as chief executive.

Woods says he is leaving with a sense of accomplishment knowing that the CEO and the board are now ready for the next steps in defining how they will serve the interests its of customers.

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Hydro One is Ontario’s largest electricity transmission and distribution provider with almost 1.4 million customers.

WATCH: ‘People are struggling to pay their hydro rates’: Ontario appoints new Hydro One board (August 15, 2018)

0:36 ‘People are struggling to pay their hydro rates’: Ontario appoints new Hydro One board