Doug Ford vows to oust Hydro One CEO if elected Ontario premier

CAPTION: Ontario PC Leader Doug Ford is pledging to remove the CEO of Hydro One if elected premier. PC energy critic Todd Smith acknowledged that the government can only replace the company’s board of directors, and only the board can fire the CEO. (April 12, 2018) 1. SOUNDBITE: Doug Ford, Ontario PC Leader 2. SOUNDBITE: Todd Smith, Ontario PC energy critic PLACELINE: Toronto CREDIT: The Canadian Press STORYLINE: If elected premier of Ontario in the spring election, Doug Ford says his first act will be to fire the CEO of Hydro One and its board of directors, whom he blames for the rising electricity costs in the province. The decision, however, would not come cheap. Hydro One CEO Mayo Schmidt, who earned a $6.2-million salary last year, would be entitled to at least $10.7 million in severance if he were to be removed from his job by the board of directors, according to the company's annual shareholders report released on March 29.