The incoming interim Nalcor CEO believes her appointment is the first step in streamlining the organization as it comes with some significant savings.
NL Hydro President Jennifer Williams will take over as CEO of Nalcor when Stan Marshall retires on June 15. Williams will maintain her role as Hydro President—combining the two positions into one.
Nalcor says Williams will be paid $395,000 a year for the two roles she is filling. The company says the total savings, including the removal of short-term incentives, is $601,900 if maximum bonuses are paid.
As for what other cost savings can be found, Williams wouldn’t get into any detail as talks are still in the early stages but she does say that a balance needs to be found in identifying redundancies. She says they will take “every opportunity” to streamline operations, but the work being done is very dangerous and they cannot compromise safety or reliability.
While Williams’ appointment will result in savings, there is still the matter of money owed to Stan Marshall, the outgoing Nalcor CEO.
Marshall’s contract does not include severance pay, but there is money still owed through various incentive and compensation components of his contract which amounts to $682,500. Marshall is also owed $47,000 for unused vacation.
(Innu Nation Grand Chief Etienne Rich.)
Meanwhile, the Innu Nation is reminding incoming interim Nalcor CEO Jennifer Williams that they are more than just a stakeholder in the Lower Churchill project.
In offering congratulations to Williams, they say they look forward to meeting with her to further her understanding of the legal obligations to the Innu Nation through the Impacts and Benefits, and Upper Churchill Redress agreements.
Grand Chief Etienne Rich says Williams needs to begin her new position with a full understanding that Muskrat Falls is on Innu land and any decision taken by Nalcor or the government of Newfoundland and Labrador in relation to Muskrat Falls or any further hydro development, must include the Innu.
He wants to make sure that Williams recognizes Nalcor’s responsibility to the Innu Nation “from the outset.”
