Ford ousts Hydro One boss and the utility’s board of directors

Ford ousts Hydro One boss and the utility’s board of directors

Premier Doug Ford has zapped the Hydro One boss he dubbed “the $6 million dollar man”without an expected $10.7 million severance payment and is replacing the company’s board of directors.

Chief executive Mayo Schmidt, whom Ford promised to fire during the June 7 election campaign over his $6.2 million annual compensation, is taking “retirement” with a $400,000 lump sum, Hydro One said Wednesday.

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