Emera Inc. (“Emera”) (TSX: EMA) announced today that Nancy Tower will become the President and Chief Executive Officer of Tampa Electric upon Gordon Gillette’s retirement on Nov.30.
“Gordon has played a key role in integrating Tampa Electric into the Emera group of companies, and he is leaving the organization well positioned for the future,” said Scott Balfour, Chief Operating Officer, Emera Inc. “Over his 36 years with the organization, Gordon has contributed significantly and we thank him for his commitment and leadership. It’s an important time for our Florida operations and we are pleased to have a seasoned leader like Nancy join the experienced team in Tampa to navigate both the opportunities and challenges facing the business.”
“After 36 years, I am proud of the work we have done at the company, and I see a bright future for Tampa Electric,” Gillette said. “I look forward to continuing my commitment to the Tampa Bay community in this next chapter.”
During her 20 years with Emera, Tower has held a variety of senior corporate and operational roles. Most recently she was Chief Corporate Development Officer (2014 – present) for Emera and was instrumental in making the TECO transaction happen. She previously served as CEO of Emera Newfoundland and Labrador (2011-2014) and Chief Financial Officer for Emera (2005-2011). When she was CEO of Emera Newfoundland and Labrador she negotiated critical agreements and took the Maritime Link project through its regulatory approvals. She also held several operations positions at Nova Scotia Power, including Vice President of Customer Operations, where she led a team that operated and maintained the province’s electricity delivery system. She also held a management position at Tufts Cove Generating Station in Nova Scotia.
“I am excited to join the team in Florida during this dynamic time,” Tower said. “We will continue to work hard to meet the needs of our customers, strengthen our safety culture and advance our strategy of delivering cleaner, affordable energy.”
Tower joins a strong leadership team at Tampa Electric focused on delivering nearly 4,700 megawatts of capacity and serving 750,000 customers in West Central Florida.
Emera’s Florida Operations are organized into three teams, led by the following:
• Nancy Tower, President and CEO, Tampa Electric
• T.J. Szelistowski, President, Peoples Gas
• Sarah MacDonald, President, TECO Services Inc.
Tower and Szelistowski report into the Tampa Electric board, and MacDonald reports into the TECO Services board; both boards are chaired by Balfour.
Bio: Nancy Tower
Tower will assume the role of President and CEO of Tampa Electric on Dec. 1. In her previous role as Chief Development Officer for Emera, she focused on mergers and acquisitions and the advancement of strategic growth projects in the areas of electric and gas transmission and generation. Tower played a lead role in the deal that brought TECO Energy into the Emera group of companies.
From May 2011 to April 2014, Tower was the CEO of Emera Newfoundland and Labrador. In April 2014, the Maritime Link project received approval. The Maritime Link is a CAD $1.6 billion project that will connect the island of Newfoundland to the North American energy grid for the first time in history via 170 km of high voltage direct current subsea cables under the Cabot Strait. Tower remains an active member of the Emera Newfoundland and Labrador board of directors.
Tower held the position of Chief Financial Officer of Emera Inc. from 2005 to 2011 and was responsible for overseeing all the financial activities of Emera including external reporting, business development, financial operations, risk management and relationships with equity and debt markets. With Emera since 1997, she has held senior positions in corporate finance and in operations including Controller and Vice President of Customer Operations with Nova Scotia Power. In this role, Tower led a team of over 1,000 employees who operate and maintain Nova Scotia's electricity delivery system.
Tower is a Fellow Chartered Accountant and a 2011 recipient of Canada's Most Powerful Women: Top 100 Award.
A leader in her community, Tower currently serves on the board of United Way Halifax and is Chair of its Strategic Fundraising Cabinet. She also serves on the Advisory Council of the Dalhousie University Corporate Residency MBA Program, as well as the Dalhousie University Faculty of Management Advisory Board. She most recently served as the 2014/2015 Campaign Co-Chair, United Way Halifax Region and is a past member of the board of directors of the Atlantic Institute for Market Studies (AIMS), the board of directors of Nova Scotia Business Inc., the board of trustees of the QEII Foundation, and the board of directors of CAA Atlantic. Tower is also the former chair of the Nova Scotia Institute of Chartered Accountants. She is a graduate of Dalhousie University.
About Tampa Electric
Tampa Electric, one of Florida’s largest investor-owned electric utilities, serves about 750,000 customers in West Central Florida. Tampa Electric is a subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, Canada.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately CAD$29 billion in assets and 2016 revenues of more than CAD$4 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR. Additional Information can be accessed at www.emera.com or at www.sedar.com.
Emera: Kathy Purcell 902.221.1148
Tampa Electric: Cherie Jacobs 813.228.4945