Chief Executive Officer, “AffCo MergeCo”
Sartor and Associates has been retained to search for a CEO to lead a new corporation, currently referred to as Affco MergeCo, which will result from the soon to be merged Veridian Corporation and Whitby Hydro Energy Corporation.
The Position
Reporting to the Board, the Chief Executive Officer of AffCo MergeCo will have the responsibility for dramatically increasing revenues, profitability, and shareholder value. The CEO will thrive in a business development environment, both in evaluating the current business and working with the Board to create a strategy for identifying, evaluating, generating, and executing new business opportunities and relationships.
The newly formed AffCo will be a start-up entity with a lean organization. The CEO will be key in establishing the culture of the team and in guiding and instilling in the team the Purpose, Vision, Values, and Strategy of the new organization. Distinct from the LDC MergeCo, the AffCo will need to have an entrepreneurial mindset and a sales driven culture.
The CEO will work with the current employees to empower them to seek and investigate future opportunities for the Corporation. The CEO will be responsible for identifying and marketing to potential customers through networking, trade shows, or any other means proposed and approved by the Board.
The company has established energy service businesses in the following areas:
More details on these portfolios will be provided to selected candidates.
The Merger
Whitby Hydro Energy Corporation and Veridian Corporation have agreed to merge and have signed a series of legal documents that will facilitate such a merger. Following this extensive evaluation and community engagement process, the Proposed Transaction was approved by all five shareholders of Veridian Holdco and Whitby Holdco, being: the Corporation of the Town of Ajax, the Corporation of the City of Belleville, the Corporation of the Municipality of Clarington, the Corporation of the City of Pickering and the Corporation of the Town of Whitby.
Any merger requires the approval of the Ontario Energy Board (OEB) and such approval is pending. It is anticipated that OEB decision on the application will be issued during the first quarter of 2019 and that the merger will be implemented shortly thereafter. An application requesting this approval was submitted on July 30th, 2018, and can be viewed at
http://www.veridian.on.ca/wp-content/uploads/VDN.WHTBY_APP_MAAD_20180727.pdf.
In preparation for the newly formed companies, it has been decided to conduct a CEO selection process; one for the new Local Distribution Company (LDC) and one for a new non-regulated energy services company (know in the industry under the generic term Affiliated Company or “AffCo”). These two new legal entities will have very distinct and different business models. The LDC will focus more on traditional operations and maintenance in the delivery of electricity to its customers, while the AffCo will be entrepreneurial in nature, focusing on providing a wide range of energy solutions to an equally wide range of customers.
The Candidate Profile
The new CEO will be challenged to demonstrate sound leadership and strategic expertise to articulate and advance the company’s vision, mission and objectives. This position is responsible for the effective long-term delivery of financial, operational, safety, customer, community and government key results.
The CEO must be a strategic and innovative leader who will quickly earn credibility in the eyes of the Board and stakeholders. The new CEO will be a driven, passionate, visionary leader that has a decisive management style and excels at relationship-building. The new CEO will bring a successful track record of cultural change management at a senior leadership level and their success will be amplified by an entrepreneurial spirit, strong interpersonal skills, and an uncompromising commitment to safety.
For a complete Position Profile, please visit http://www.sartorandassociates.com/AFFCOCEO
The Application Instructions
To explore this opportunity further, please contact Larry Sartor at 416-464-6856 or email your resume (filename: “Last name, First name - CV”), with “AffCo CEO” in the subject line, in confidence to larry@sartorandassociates.com and Mark Fukuzawa at mark@sartorandassociates.com.
It is LDC MergeCo’s policy to comply with all applicable laws and regulations which prohibit unlawful discrimination because of race, religion, creed, colour, national origin, sex, sexual orientation, age, disability or marital status or any other protected class.
We thank all those that apply for the position, however, only those selected for an interview will be contacted.
Thank you for your understanding.
Sartor and Associates – Search. Develop. Build.
Brookfield Place—TD Canada Trust Tower
161 Bay Street, 27th Floor, Toronto, Ontario, M5J 2S1
Tel: 416-464-6856 Fax: 416-572-2201
www.sartorandassociates.com
larry@sartorandassociates.com
November 21, 2018
