PLANT

NL Premier wants outside review of Nalcor CEO severance

Ball acting on a justice department recommendation regarding the $1.4 million package.


ST. JOHN’S, NL — The Premier of Newfoundland and Labrador has asked the province’s auditor general to review a $1.4-million severance payment made to former Nalcor Energy president and CEO Ed Martin.

Dwight Ball is referring the question of Martin’s severance package to “an independent outside agency” at the recommendation of the provincial justice department.

Martin abruptly left the provincial Crown corporation behind the Muskrat Falls hydroelectric project in a cloud of controversy last month.

In the last week, Ball has said that the former Nalcor board fired Martin without cause the same day he stepped down, triggering a severance payment amounting to more than twice the CEO’s salary.

Members of the Progressive Conservative opposition have been grilling Ball about what he knew about Martin’s exit and when he knew it.

Ball has said he didn’t learn details of the severance package until May 5.

The province has spent almost $4.8 billion building the dam and power house on the lower Churchill River – the largest publicly funded project in its history.

When he left Martin indicated the departure was his decision and said he had no regrets about how the Muskrat Falls project was managed. He has not commented publicly since then.

News from © Canadian Press Enterprises Inc. 2016

Have your say:

Your email address will not be published. Required fields are marked *

*