Executive shake-ups at Fortis, N.L. Power

Starting June 1, Fortis will have a new executive vice-president and chief financial officer, and Newfoundland Power will have a new interim president and chief executive officer as current president Jocelyn Perry moves from that role to Fortis.

Perry will take over as Fortis’s new executive vice-president and chief financial officer after Karl Smith retires on May 31. Smith worked with Fortis for more than 30 years.

Moving into Perry’s position at Newfoundland and Labrador Power in the interim is Peter Alteen, who was previously vice-president of regulation and planning.

Alteen started with Newfoundland and Labrador Power in 1987, and has been on the executive for 17 years.

Perry has an extensive career in the utility business, having worked at Newfoundland and Labrador Power for the past 13 years, most recently as president and chief executive officer. In the early 2000s, she was director of finance at Fortis, and before that she worked in finance in the private sector.

In a news release Monday afternoon, Fortis president and chief executive officer Barry Perry thanked Smith for his dedication over the past three decades.

“Karl has been a fantastic CFO with his guidance and advice contributing immensely to our corporation’s strong financial and operational performance,” Barry stated in the release. “At various points in his career he ran our Newfoundland and Alberta utilities. More recently he returned to Newfoundland from Alberta to take a second turn as chief financial officer where he led our financial team and strategies in the capital markets.”

Barry Perry also welcomed Jocelyn Perry in her new role.

“Jocelyn’s intuition and judgment have served the corporation well for close to two decades. I’m confident that she will provide strong leadership of the finance function as we focus on our growth strategy, shareholder returns and customer satisfaction.”