AffCo MergeCo -- Chief Executive Officer
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:
- Rooftop Solar PV
- Combined-heat-and-power (CHP) electricity and thermal energy generating
- Two-Way Radio
- Energy Consulting Services
- Engineering, procurement, and construction (EPC) of Substation, Power Generation, and Energy Storage projects
- More details on these portfolios will be provided to selected candidates.
Veridian Corporation provides, through affiliated companies, energy-related services to customers located in nine municipalities in east-central Ontario. The core business is distribution of electricity which is provided through the wholly-owned regulated subsidiary, Veridian Connections Inc. ("VCI”). VCI is the fifth largest municipally owned electricity distributor in Ontario. The company is responsible for the safe, reliable delivery of electricity to more than 122,000 residential and business customers in the cities of Belleville and Pickering, the towns of Ajax and Gravenhurst, the Municipality of Port Hope, and the communities of Beaverton, Bowmanville, Cannington, Newcastle, Orono, Port Perry, Sunderland and Uxbridge. A small business focused on renewable energy generation is operated through VCI, separate from the regulated business. New business opportunities in areas such as district energy and broadband, currently being pursued through Veridian Corporation, will move to AffCo MergeCo under the new business model.
Whitby Hydro Energy Corporation is a holding company owned by The Town of Whitby. Contained within are two separate and distinct subsidiaries – Whitby Hydro Electric Corporation and Whitby Hydro Energy Services. Whitby Hydro Electric Corporation is an electricity distributor licensed by the Ontario Energy Board (OEB) to deliver electricity to homes and businesses in their service area of the Whitby, Brooklin and Ashburn communities. The organization serves more than 41,500 customers. The Whitby Hydro Energy Services Corporation provides energy management and engineering services.
Together, Veridian and Whitby Hydro currently employ approximately 300 employees. Of these, about 85 are management and non-union staff, and the remainder are represented by two unions. Unionized staff at Whitby Hydro are represented by the Power Workers Union ("PWU”) under the terms of two collective agreements; one covering inside staff and another covering outside staff. Both expire at the end of June 2019. Veridian inside and outside staff are covered by a common collective agreement with the International Brotherhood of Electrical Workers ("IBEW”). It expires at the end of March 2019. A total of about 50 employees are currently represented by the PWU and about 140 by the IBEW.
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 company it has been decided to conduct a CEO selection process; one for the Local Distribution Company (LDC) and one for a non-regulated energy services company (known 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.
This position profile is for the CEO of AffCo MergeCo; a separate position profile is available for President & CEO of LDC MergeCo.
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.
DUTIES & ACCOUNTABILITIES
- Direct and manage various lines of business, developing goals and objectives while ensuring efficient utilization of the human and financial resources to achieve established performance objectives
- Set a clear direction for the business. Where this direction is articulated in a clear purpose, vision, mission, values, and strategy. Set strategic goals, and guiding principles that will be key to decision making at AffCo.
- Develop and clearly articulate compelling business cases for new products, business/sales models, and manage their implementation within established time frames
- Oversee the planning, development and implementation of the annual marketing plan to establish overall marketing priorities for long range planning for the Corporation
- Manage complex contract negotiations and work with legal counsel as required
- Prepare corporate budget presentation to the Board of Directors
- Manage the financial stability of the Corporation through the preparation of forecasts, including monthly and quarterly reports regarding clients, business financial performance, and department budgets to ensure focus on profitability
- Coordinate employee recruitment, selection and training, performance assessment, work assignments, salary, and recognition/disciplinary actions
- Coach and empower sales team to achieve peak performance and meet corporate objectives
- Identify, cultivate, and establish partnership agreements with key strategic partners based on analysis of market place
- Evaluate acquisition opportunities as appropriate to grow business and increase profitability
- Building on a well-established client list, effectively prospect, build client relationships, generate leads, and engage clients in meaningful dialogue about incremental opportunities
- Closely monitor intelligence about clients, client industries and/or markets, and upcoming contracts and RFPs
- Monitor and assess competitor activities in the market in order to appraise and speculate with regard to their positions on competitive proposals
- Possession of a post-graduate level degree from a recognized university in a related professional discipline; OR a combination of education, training and experience deemed to be equivalent
- An entrepreneurial thinker with over 10 years of professional experience with a minimum five years at a senior leadership level
- Demonstrated success in building businesses from an early stage in a rapidly evolving industry
- Significant experience in a senior/executive leadership role in a public-facing organization of similar size and nature
- Strong sales and marketing experience is highly desirable and considered a key asset, as is experience with mergers and acquisitions
- Solid experience in budgeting, sales, business development, and strategic partnerships
- Financial acumen, able to grasp numbers and fiscal regulations
- Experience working with Boards of Directors
- Excellent interpersonal, oral, and written communication, public speaking and presentation skills
- Strong operational and general management experience – preferably coming from industrial services industries or an industry with similar customers
- Sound organizational and time management skills.
- Able to forge strong, effective working relationships, both internally and externally.
- Credible and trustworthy; earns respect of his/her team
- Capable of leading, directing, and motivating staff
- Pragmatic with trust in his/her instincts and able to take risks
- Ability to travel as needed
KEY ATTRIBUTES & COMPETENCIES
Transformational and Strategic Leadership
Confidently builds and develops teams, fosters a respectful and ethical work environment, mobilizes the workforce and champions and delegates courses of action towards the achievement of the strategy and vision of the enterprise.
Visioning and Alignment
Shapes a compelling and inspired vision and strategy for the enterprise and generates commitment and alignment of all aspects of the business and its people with the strategy and vision.
Knows, understands and operates sensitively and effectively within the political structures and climates, strategically influencing outcomes.
Understands and uses the workings, structure, climate and culture of the enterprise and the industry to achieve business and growth outcomes.
Uses understanding of financial information to make business decisions, maximize value, and maintain financial health of the enterprise.
Relationship and Network Building
Seeks and builds alliances, maintains effective relationships, communicates in a compelling and articulate manner instilling commitment, and fosters open respectful two-way communication channels, internally and externally, to further the strategy and vision of the enterprise.
Analyses and synthesizes information to understand issues, identify options, and make appropriate, realistic and timely decisions based on consideration of the available facts and alternatives and sound calculation of risks.
Actively listens for underlying nuances and messages and uses persuasion to build consensus, manage and/or resolve conflicts, and reach mutually agreeable outcomes.
Remains energized, positive, and focused in the face of ambiguity, change or strenuous demands.
To explore this opportunity further, please email your resume (filename - "Last name, First name - CV”), with "AffCo CEO” in the subject line, in confidence to Larry Sartor at firstname.lastname@example.org and Mark Fukuzawa at email@example.com.
It is AffCo 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.