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.