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TORONTO - Hydro One Limited (TSX:H), currently valued at $13.9 billion and trading near its 52-week high, announced Thursday that President and CEO David Lebeter will take a temporary compassionate care leave effective August 25 to care for a family member. According to InvestingPro analysis, the company maintains a "Fair" overall financial health score, suggesting stable operational performance despite the leadership transition.
The Ontario-based electricity transmission and distribution provider has appointed Harry Taylor as Interim President and CEO. Taylor, who joined Hydro One in 2024, will continue to serve as Executive Vice President, Chief Financial and Regulatory Officer during the interim period. While InvestingPro data indicates net income may face challenges this year, the company maintains profitability with a 44% gross margin.
According to the company’s statement, Lebeter will continue to support Hydro One on an advisory basis until his return.
In a separate announcement, Hydro One appointed Michael W. Rencheck to its Board of Directors, effective immediately. Rencheck brings over four decades of experience in the energy industry, most recently serving as President and CEO of Bruce Power.
Taylor, who will lead the company during Lebeter’s absence, previously held positions as Chief Financial Officer and interim Chief Executive Officer at WestJet Airlines until December 2022. His prior experience includes senior finance leadership roles at Canadian Tire Corporation, Holt Renfrew Limited, The Home Depot and PepsiCo/Frito-Lay.
Hydro One serves approximately 1.5 million customers across Ontario and reported assets of $36.7 billion as of December 31, 2024, with annual revenues of $8.5 billion in 2024.
The information in this article is based on a press release issued by Hydro One Limited.
In other recent news, Hyatt Hotels Corporation reported its second-quarter 2025 earnings, exceeding Wall Street expectations. The company achieved an earnings per share (EPS) of $0.68, surpassing the forecasted $0.65. Additionally, Hyatt’s revenue reached 1.75 billion dollars, slightly above the anticipated 1.74 billion dollars. This performance has been well-received by investors, as reflected in the company’s stock activity. Meanwhile, Hydro One Limited announced a quarterly cash dividend of $0.3331 per common share. The dividend is scheduled to be paid on September 29, 2025, to shareholders of record as of September 10, 2025. Hydro One specified that all common share dividends are designated as "eligible" for Canadian income tax purposes. These developments highlight the ongoing financial activities and strategic decisions of both companies.
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