ST. JOHN'S, NEWFOUNDLAND--(CCNMatthews - April 26, 2006) - Newfoundland Power Inc. (TSX:FTS) today announced the retirement of Mr. Bruce Chafe as Chair of its Board of Directors and the election of Mr. David Norris as Chair. In addition, the Company announced the retirement of Ms. Dell Texmo and the elections of Mr. Trevor Adey and Ms. Georgina Hedges to its Board of Directors.
Mr. Chafe first joined the Board of Directors in 1999 and has served as Chair since 2000. Mr. Chafe will continue to serve on the Company's Board of Directors. "Mr. Chafe's contributions as Chair were numerous," said Karl Smith, President and Chief Executive Officer, Newfoundland Power Inc. "He offered hard work, integrity and a genuine commitment to our customers, employees and Company. We are delighted that he will continue to serve on our Board."
Mr. Norris has been a financial and management consultant since 2001, prior to which he was Executive Vice President, Finance and Business Development, Fishery Products International Limited. Previously, he held Deputy Minister positions with the Department of Finance and Treasury Board, Government of Newfoundland and Labrador. He has been a member of the Company's Board of Directors since 2003, and has served as Chair of the Audit and Risk Committee since 2005.
"We look forward to Mr. Norris' leadership in his new capacity as Chair," added Smith. "His prior experience on our Board coupled with his business acumen will be instrumental in helping our Company continue to deliver customer service excellence, operational improvements and financial success."
Mr. Adey is the Chief Executive Officer of Consilient, a leader in push email solutions for mobile phones and devices. He has held a range of senior management and executive positions in the wireless and satellite communications sector. Prior to forming Consilient, he was Vice President of Commercial Sales and Business Development with Stratos and Director of Sales with Infosat Telecommunications, a satellite communications carrier in Vancouver, British Columbia.
Ms. Hedges is the owner and operator of The Doctor's Inn, a tourism, art and antique business located in Eastport, Newfoundland and Labrador. For several years, she worked as a teacher and language arts coordinator with the Exploits Valley Integrated School Board, and was also the Assistant Director of the Department of Education's Provincial Professional Development Centre in St. John's, Newfoundland and Labrador.
"We are pleased to welcome Mr. Adey and Ms. Hedges to our Board," added Smith. "These individuals bring diverse backgrounds and experience to our Board, and we look forward to their guidance as we continue to strengthen our Company for the benefit of customers and employees."
Ms. Dell Texmo has retired from the Board of Directors, having served for the past six years. "We are very grateful to Ms. Texmo for her many contributions during her tenure and we wish her all the best in the future," concluded Smith.
These changes to the Board of Directors are effective April 26, 2006.
With a customer base of over 227,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit www.newfoundlandpower.com.
All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international electric utility holding company with assets exceeding $4.3 billion and annual revenues of more than $1.4 billion. The Common Shares, Series C First Preference Shares and Series E First Preference Shares of Fortis Inc. are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis Inc. information can be accessed at www.fortisinc.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newfoundland Power Inc.
Michele Coughlan
Director, Corporate Communications
(709) 737-2821
(709) 682-1470 (Cellular)
