Utility company Emera reworks management structure

March 03, 2015 11:27 AM Eastern Standard Time

HALIFAX, Nova Scotia–(BUSINESS WIRE)–Chris Huskilson, President and CEO of Emera Inc. (EMA:TSX) today announced a realignment of the company’s management structure, including new responsibilities for two of its key executives.

Rob Bennett, currently Emera’s EVP and COO has been named Chief Operating Officer, Emera Eastern Canada, and Scott Balfour, currently EVP and Chief Financial Officer, will take on the new position of Chief Operating Officer, Northeast United States and Caribbean. Mr. Balfour will continue to serve as CFO while a search is conducted for a new CFO.

Mr. Balfour’s new responsibilities will be phased-in. He will initially assume the role of Chair of Emera Energy in addition to his CFO role. Once the new CFO is in place, Mr. Balfour will assume the balance of his new responsibility for Emera’s Northeast U.S. and Caribbean businesses.

In Mr. Bennett’s new role, he will assume overall executive responsibility for Emera’s Eastern Canadian businesses, which will include Emera Newfoundland and Labrador once the Maritime Link project is operational.

“These changes will further increase Emera’s capacity for growth,” said Mr. Huskilson. “We are going through a period of significant growth and change, with nearly half of our earnings now coming from the United States and the Caribbean. This new reporting structure reflects that reality.”

About Emera Emera Inc. is geographically diverse energy and services company headquartered in Halifax, Nova Scotia with $9.84 billion in assets and 2014 revenues of $2.97 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera’s strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has investments throughout northeastern North America, and in four Caribbean countries. Emera continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Additional Information can be accessed at www.emera.com or at www.sedar.com.