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MacIssac out at Nalcor Energy

Vice-president due for severance payout

There’s been a major shakeup atop the leadership structure of Nalcor Energy and Newfoundland and Labrador Hydro.

John MacIssac has left the company, Nalcor CEO Stan Marshall announced Friday.

A spokesperson for Nalcor says MacIssac’s departure was without cause, meaning he is entitled to a severance payment. The total compensation is still to be calculated by Nalcor, with details expected in the coming days.

When former Nalcor CEO Ed Martin was terminated without cause in April 2016, he received a total severance payment of $1.4 million, with an additional $4.7 million in retirement and additional benefits.

MacIssac has been with Nalcor for the last eight years and most recently served as executive vice-president of power supply. The role saw MacIssac responsible for the transmission portion of the Muskrat Falls project, a position created by Marshall with MacIssac’s initial appointment to the role in 2016. Prior to that appointment, MacIssac served as president of Newfoundland and Labrador Hydro.

Jim Haynes will step into MacIssac’s role, leaving his position as president of N.L. Hydro. Jennifer Williams will become president of N.L. Hydro – the first woman to hold the position.

Williams first joined N.L. Hydro in 2014 and was appointed vice-president of production in August 2016.

david.maher@thetelegram.com

Twitter: DavidMaherNL


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