Hydro One board resigns, CEO retires as Ont. premier makes good on campaign promise

TORONTO — Premier Doug Ford says he has made good on a key campaign promise, announcing the immediate retirement of the CEO of Hydro One and the resignation of the utility’s entire board of directors.

Ford, who promised that if he was elected he would fire Hydro One CEO Mayo Schmidt, dubbing him the “Six Million Dollar Man” during the spring election campaign, hailed it as a “great day” for the province.

Under an agreement between the new Tory government and the partially-privatized utility, Schmidt will retire and its board of directors will resign and be replaced.

Good work.

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