ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - April 25, 2007) - The Board of Directors of Newfoundland Power Inc. (TSX:FTS) today announced that Earl A. Ludlow has been appointed as the new President and Chief Executive Officer effective April 30, 2007.
"Earl Ludlow is highly regarded and well-known in the utility industry for his operational and engineering knowledge and expertise," said David Norris, Chair, Board of Directors, Newfoundland Power Inc. "His proven track record in delivering results through significant improvements in reliability, safety and operational efficiencies for the benefit of customers will be instrumental in building on the solid foundation of success at Newfoundland Power."
Ludlow has held the position of President and Chief Executive Officer of Fortis Properties since 2005. From 2003 to 2005 he served as Senior Vice President, FortisBC, and Vice President, Operations, FortisAlberta. Prior to that, he held the positions of Vice President, Engineering and Operations, Newfoundland Power Inc., and Vice President, Operations, Maritime Electric.
"Earl has a strong belief in and commitment to providing customer service excellence, in addition to a keen interest in developing the strengths and talents of employees," added Norris. "His in-depth understanding and experience with the operations of Newfoundland Power will make this transition seamless. We look forward to Earl rejoining the Newfoundland Power team."
Ludlow will replace Karl W. Smith, President and Chief Executive Officer, who will be leaving Newfoundland Power to join FortisAlberta as President and Chief Executive Officer effective May 1, 2007.
With a customer base of over 230,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability in the most cost-efficient manner possible. All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international distribution utility holding company with assets exceeding $5.4 billion and annual revenues of approximately $1.5 billion. The Common Shares, First Preference Shares, Series C; First Preference Shares, Series E; First Preference Shares, Series F; and, Subscription Receipts of Fortis Inc. are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E, FTS.PR.F and FTS.R, respectively. Fortis information can be accessed at www.fortisinc.com. For more information on Newfoundland Power's programs and services, visit www.newfoundlandpower.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newfoundland Power Inc.
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709-737-5674 / Cellular: 709-685-4242