Canadian Hydro Developers, Inc.

Canadian Hydro Developers, Inc.

June 01, 2009 08:33 ET

Canadian Hydro Announces Executive Team Transition

CALGARY, ALBERTA--(Marketwire - June 1, 2009) - Mr. Dennis Erker, Chairman of the Board of Directors of Canadian Hydro Developers, Inc. (Canadian Hydro) (TSX:KHD), announced today that Kent Brown will be promoted to CEO from his current role of Executive Vice President & CFO. Additionally, Kathy Boutin will be promoted to CFO from her current role of Vice President, Finance. Both John Keating, CEO, and Ross Keating, President, Operations & Development, will each be transitioning into the newly created role of Founder & Director. These changes will take effect July 1, 2009.

"Over the past two years, I have passed many of my duties over to Kent and our Executive Team, reflecting a natural progression that is vital to the growth of our company," says John. "Over the past eight years, Kent has been a leader and key contributor to Canadian Hydro's success."

John will continue to play an integral role within Canadian Hydro by guiding the strategic direction of the company, and being a strong advocate for its renewable energy business.

Since joining the company in 2008, Keith O'Regan, Executive Vice President & Chief Operating Officer, has successfully transitioned all business operations from Ross Keating. Ross will continue to focus on working with key management on project development, strategic acquisitions, and leading the evolution of the company into new areas such as solar power.

"Keith's extensive and diverse experience and Kent's experience with the Company and the renewables industry will ensure our focus continues to be on executing our strategic plan, which centers on our growth and our people," says Ross. "We enter 2009 with a strong balance sheet, excellent field operations, and a passionate team of dedicated staff."

"This is an honour and a privilege for me," says Kent. "For the past 20 years, Canadian Hydro has grown to become Canada's largest, and best, renewable energy company. We are proud of our accomplishments and look forward to continuing to build on the strong foundation and culture that exists today, thanks largely to the bench strength of our experienced management team."

In her new role as CFO, Kathy Boutin will provide effective leadership for Canadian Hydro's financial strategy. As a member of the Executive Team, she will contribute to a strong, cohesive corporate culture, as well as provide leadership and support at all levels to assure success in achieving the company's vision. Over the past four years, Kathy has taken on increasing responsibilities in finance and accounting roles at Canadian Hydro, including successfully completing the largest debt financing in the Company's history in June 2008.

The company will host a conference call and webcast at 9:00 a.m. Mountain Time (11:00 a.m. Eastern) on June 1, 2009. Participants include:

- John Keating, Chief Executive Officer;

- Ross Keating, President, Operations & Development

- Kent Brown, Executive Vice President & Chief Financial Officer;

- Keith O'Regan, Executive Vice President & Chief Operating Officer; and

- Kathy Boutin, Vice President, Finance.

Participants calling from Canada or the United States should call toll-free: 1-866-400-3310. Callers from other locations may access the call at: 1-416-850-9144. For those who prefer to join by webcast, a link will be displayed on the home page of Canadian Hydro's website at Webcast participants may use the link to pre-register and ensure quicker access to the webcast on June 1.

If you are unable to participate during the live conference call, the call will also be available for replay via telephone for seven days after the conference call by calling 1-866-245-6755 or 1-416-915-1035. The replay passcode number is 454732. The transcript of the conference call will be archived on the investor page of Canadian Hydro's website.

About Canadian Hydro

Canadian Hydro is committed to Building a Sustainable Future®. The Company is the largest and most diversified developer, owner and operator of 20 renewable power generation facilities in Canada totaling net 496 MW of capacity in operation, 383 MW in and nearing construction and 1,525 MW in development. The renewable generation portfolio is diversified across three technologies (water, wind and biomass) in the provinces of British Columbia, Alberta, Ontario, and Quebec. This portfolio is unique in Canada as all facilities are certified, or slated for certification, under Environment Canada's EcoLogo(M) Program.

Common shares outstanding: 143,661,223

Advisory Respecting Forward-Looking Statements:

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.

The forward-looking information and statements contained in this news release reflect several material factors, expectations and assumptions including without limitation: (i) schedules and timing of certain projects and the Company's strategy for growth; (ii) reliance on management and key personnel to effectively manage the Company and advance the Company's strategy for growth and; (iii) the Company's future operating and financial results.

The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements. The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to publicly update or revised them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

The Toronto Stock Exchange has neither reviewed nor approved this news release.

Contact Information

  • Canadian Hydro Developers, Inc.
    Investor Relations
    Kathy Boutin, Vice President, Finance
    (403) 298-0256
    Canadian Hydro Developers, Inc.
    Media Relations
    Lindsey Moen, Communications Coordinator
    (403) 802-2099