Algonquin Power & Utilities Corp. Announces CFO Departure
Algonquin Power & Utilities Corp. (NYSE: AQN) has shared some significant news regarding its leadership team. The company confirmed the upcoming exit of its Chief Financial Officer, Darren Myers. This announcement marks a pivotal moment in the company's leadership as it reflects on its strategic direction and future goals.
CEO's Statement on the Transition
Chris Huskilson, the Chief Executive Officer of Algonquin, expressed his sentiments regarding Darren’s resignation, stating, "Today I accepted Darren’s resignation as he is pursuing another opportunity." Huskilson emphasized Darren's contributions, noting how he has played a vital role in guiding the company through substantial changes, including a strategic review and the sale of its renewables business. His leadership since joining the team in August 2022 helped transform Algonquin from a hybrid operation to a singularly focused regulated utility.
Darren Myers Reflects on His Experience
Darren Myers shared his appreciation for the time spent with the company, saying, "It has been a privilege to work alongside Chris and my fellow AQN colleagues. I am proud of our collective accomplishments together." His tenure at Algonquin has included driving the company towards becoming a more streamlined utility, indicating a serious commitment to improving efficiency and focusing on core operations.
Smooth Transition Ahead
In his final weeks at Algonquin, Mr. Myers is dedicated to ensuring a seamless transition. He will assist in the search process for his replacement to maintain stability and continuity in the finance department. This transition signifies Algonquin’s proactive approach to leadership change, essential for steering the company through future endeavors.
About Algonquin Power & Utilities Corp. and Liberty
Algonquin Power & Utilities Corp. operates as a parent company to Liberty, providing a diversified portfolio of utilities across generation, transmission, and distribution. The organization is deeply committed to offering reliable energy and water solutions to over one million connections primarily in North America. The company has a strong emphasis on delivering sustainable results through its utility investments.
Algonquin's common shares, as well as its preferred shares Series A and D, are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. In the United States, its common shares and Series 2019-A subordinated notes are available on the New York Stock Exchange under AQN and AQNB.
Looking Ahead
With a focus on advancing its utility operations, AQN aims to continue its evolution in the energy sector. The company is setting a strong foundation for future growth through strategic management and transition planning. The current leadership change is viewed as part of a broader effort to align itself with the industry's changing dynamics and to remain competitive in the marketplace.
Frequently Asked Questions
What prompted the departure of CFO Darren Myers?
Darren Myers is pursuing another opportunity, leading to his resignation from Algonquin Power & Utilities Corp.
How long will Darren Myers remain with Algonquin?
He will remain as CFO until the reporting of the company’s fourth quarter results.
What is the company doing to find a new CFO?
Algonquin Power & Utilities Corp. will begin a search for Darren Myers' replacement to ensure a smooth transition.
What does Algonquin Power & Utilities Corp. focus on?
The company specializes in providing safe and reliable utility services while emphasizing sustainability and efficiency.
Where can I find more information about Algonquin Power?
For additional details, visit Algonquin's official website at www.algonquinpower.com.
