CEO of company overseeing Muskrat Falls project steps down
NL premier says a new president will be chosen as soon as possible.
ST. JOHN’S, NL — The man in charge of the $9.2-billion Muskrat Falls hydro project in Labrador is stepping down.
Premier Dwight Ball says Nalcor CEO Ed Martin has resigned, effective immediately.
Ball says it was Martin’s choice “at this time in his life.”
“We had a good working relationship,” Ball said. “It’s a personal decision.”
He said Martin has done a good job.
Ball says a new president will be chosen as soon as possible and any severance will be up to the Nalcor board.
“We respect Mr. Martin’s choice today,” he said.
The province is set to give the Crown corporation another $1.3 billion this fiscal year for commitments made under the previous Tory government.
The Liberals won power last fall and have pledged to tighten oversight of Muskrat Falls, Nalcor’s major project.
The $9.2-billion dam, hydro station and transmission links now under construction are over budget and timelines.
An interim report recently released by EY – formerly Ernst and Young – found problems with oversight.
© 2016 The Canadian Press