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BC Hydro names interim president and CEO

VANCOUVER, Canada, 11/7/11 (PennWell) – The unexpected departure of BC Hydro president and chief executive officer Dave Cobb has prompted the company’s board to appoint Charles Reid as acting president and CEO.

Cobb recently announced his plan to leave BC Hydro, effective Nov. 30, to join The Jim Pattison Group – ending a 16-month stint as head of the Crown corporation.

“While I would welcome the opportunity to continue meeting the challenges and opportunities inherent in my role, I’ve been presented with an unexpected, once-in-a-lifetime career opportunity with another iconic B.C. company that I simply could not pass up,” Cobb said in a BC Hydro release.

Reid previously served as the company’s executive vice-president and chief financial officer. He joined BC Hydro in 2008.

“Appointing Charles Reid as acting president and CEO ensures our executive leadership team remains strong and that we can continue seamlessly in our work to cut costs, keep rates low and evolve BC Hydro into one of North America’s most efficient utilities,” said BC Hydro chairman Dan Doyle.

The company’s board of directors will determine the selection process for a permanent president and CEO at its quarterly meeting scheduled for mid-November. In the meantime, Reid’s tenure in his new position will begin Dec. 1.

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