Hydro One CEO fired after multimillion-dollar compensation sparks outrage
TORONTO, Jul 19, 2002 (The Canadian Press via COMTEX) -- The head of Ontario's
electricity grid has been axed, after her multimillion-dollar compensation
package sparked political and public outrage, a source familiar with the firing
said Friday.
Eleanor Clitheroe, 47, was fired Friday as CEO of Hydro One, the province's
publicly owned transmission utility. "She has been terminated," the source said.
The departure follows weeks of controversy over executive salaries at Hydro One
that put the government of Ontario Ernie Eves on the defensive.
Much of the uproar centred on Clitheroe, who earned more than $2.2 million last
year, including $174,000 for a car and $172,000 for vacation.
The most controversial revelation was that she would have received $6 million in
cash if she left under almost any circumstance, along with an immediate,
lifelong annual pension of up to $1 million.
Critics were particularly outraged by the fact that she negotiated an enhanced
severance just days after details of her compensation surfaced in mid-May.
As the opposition complained that Hydro One was out of control, the government
introduced legislation that fired the utility's board of directors and rolled
back the remuneration.
Within hours the directors resigned. Then, last month the government appointed a
new board that included former NDP premier Bob Rae and former Liberal cabinet
minister Murray Elston.
Their mandate was to negotiate new compensation packages with the executives.
Glen Wright, who was appointed chairman of Hydro One's board last month, was
expected to make an announcement explaining the decision later Friday.
Clitheroe could not immediately be reached for comment.
COLIN PERKEL
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