Nalcor CEO Stan Marshall announced today that Hydro will become its own business.
Also, Muskrat Falls will become divided into two components. The first is Power Supply and the second Power Development.
There will be several new positions as well. Jim Haynes will become president of Hydro. John MacIsaac will become responsible for Power Supply. Gilbert Bennett takes over Power Development. The Chief Financial Officer will be Derrick Sturge. And Jim Keating will remain in charge of Nalcor's Oil and Gas Business while taking the lead on Bull Arm and Energy marketing for Nalcor.
Marshall says these changes will allow Hydro to clarify its priorities.
Stan Marshall took over the troubled crown corporation after Ed Martin stepped down with a severance pay totaling over 6 million dollars.