Fortis Inc. announces retirement – GuruFocus.com
ST. JOHN’S, Newfoundland and Labrador, Sep 02, 2021 (GLOBE NEWSWIRE) – Fortis Inc. (âFortisâ or the âCompanyâ) (TSX /: FTS) today announced the retirement of Jim Laurito, Executive Vice President, Business Development, Chief Technology Officer effective December 31, 2021 and the appointment of Stuart Lochray as Senior Vice President, Capital Markets and Business Development effective September 8, 2021.
âJim Laurito has had an extremely successful career in the energy industry,â said David Hutchens, President and CEO, Fortis Inc. âHis experience, ideas and leadership have been invaluable to our company and our industry. his retirement. “
Prior to his leadership role at Fortis, Jim was President and CEO of Fortis, Central Hudson Gas & Electric, as well as New York State Electric & Gas Corporation and Rochester Gas and Electric Corporation. He serves on the board of directors of Bowman Consulting Group Ltd., as well as on several industry boards, including the Edison Electric Institute, the American Gas Association, the American Gas Foundation (chair) and Alliance for Transportation Electrification (Chairman).
âWe are delighted to welcome Stuart Lochray as Senior Vice President, Capital Markets and Business Development to our team,â said David Hutchens. “Stuart brings 18 years of international finance and investment banking experience to Scotiabank in a role that will be critical to the execution of our strategy.”
Stuart has held increasingly senior positions at Scotiabank, most recently as Managing Director and Head of U.S. Corporate and Investment Banking Services in Houston, Texas, where he led and managed more of 225 professionals in the global corporate and investment banking, equity capital markets and payments sectors. Stuart has also served as Managing Director in various other areas of investment banking, with a focus on the power and utilities sector.
His career has spanned North America and the UK, as well as Pakistan. With a master’s degree in engineering and an MBA, Stuart has a long-standing business relationship with Fortis, providing advice on numerous financial transactions, mergers and acquisitions.
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2020 revenues of $ 8.9 billion and total assets of $ 56 billion as of June 30, 2021. The Company’s 9,000 employees serve utility customers in five Canadian provinces, nine in the United States. States and three Caribbean countries.
Fortis shares are listed on the TSX and trade under the symbol FTS. Further information is available at www.fortisinc.com, www.sedar.com, Where www.sec.gov.
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Ms. StÃ©phanie Amaimo
Vice-President, Investor Relations
Ms. Karen McCarthy
Vice-President, Communications and Corporate Affairs