Bruce Power said July 18 that its board of directors has chosen nuclear industry veteran Michael Rencheck as the new president and CEO effective Aug. 15.
Since March, Kevin Kelly has served as Acting President and Chief Financial Officer (CFO) of Bruce Power. Kelly will continue on as Bruce Power CFO.
Longtime Bruce Power CEO Duncan Hawthorne had announced his retirement plans in February.
Over the last 33 years, Rencheck has served in a number of roles and most recently was the Deputy Chief Operating Officer for AREVA overseeing its extensive global capital portfolio of nuclear and renewable projects, Bruce Power said in a news release.
Prior to this, Rencheck served as President and CEO of AREVA Inc. in North America leading its diverse nuclear services business in Canada and the United States with a workforce of about 5,000 people, Bruce Power said.
Prior to joining AREVA, Rencheck held various leadership positions at American Electric Power (NYSE:AEP). Prior to joining AEP in 1998, Rencheck had worked at engineering and management positions at a number of nuclear power plants in the United States.
“Throughout my career, I have worked closely with many in Canada’s nuclear industry and Bruce Power now with eight units in operation,” Rencheck said. “As the new President and CEO, I look forward to building on this success and working with the strong team of employees to continue to deliver Bruce Power’s role in Ontario’s Long Term Energy Plan,” Rencheck added.
Formed in 2001, Bruce Power is an all-Canadian partnership among Borealis Infrastructure Management (a division of the Ontario Municipal Employees Retirement System), TransCanada, the Power Workers’ Union and the Society of Energy Professionals.
Bruce Power operates the world’s largest operating nuclear generating facility and is the source of roughly 30% of Ontario’s electricity.