NB Power Chairman Receives National Recognition for Board Leadership
FREDERICTON – NB Power’s board chairman Edward Barrett is being recognized nationally for his leadership.
Barrett is one of this year’s recipients of the Institute of Corporate Director’s Fellowship Award. The awards are the highest distinction for corporate directors in Canada and are presented annually to individual who have made outstanding contributions to Canadian enterprises and not for profit organizations by bringing sound corporate governance leadership to boardrooms across the country.
“This tremendous honour for Ed reflects how much he’s been able to establish a long-term strategic direction with Government and create the conditions which allow the company to be run like a business with a skills-based board,” said NB Power board vice-chair Norm Betts, in a release. “Under Ed’s direction, management and the Board have pursued a vision to improve all facets of NB Power’s performance and set it on a course to deliver better reliability and results for the province”.
Barrett has been NB Power’s board chair since 2010. Soon after his appointment, the company’s board of directors worked with outside experts to design an improved governance model for the utility. The new model established the flow of authority and accountability at the leadership level of NB Power and outlined the interrelationship and responsibilities among the three decision-making parties: the shareholder, the board, and management.
“I want to congratulate Ed for this well-deserved award and the commitment he’s had to constantly improving NB Power for the people and economy of this province”, said Rick Doucet minister of energy and resource development. “Our government understands that good governance and independence is absolutely essential to delivering good results and we’ve certainly seen a tremendous improvement at NB Power since Ed assumed the leadership of the Board.”