Northland Power Announces Appointment of John Brace as Interim President and CEO
October 01 2024 - 6:30AM
UK Regulatory
Northland Power Announces Appointment of John Brace as Interim
President and CEO
TORONTO, Oct. 01, 2024 (GLOBE NEWSWIRE) --
Northland Power Inc. (TSX: NPI) announced today that John Brace,
who has been serving as Northland’s Executive Chair since March 25,
2024, has assumed the role of Interim President and CEO effective
immediately, following former President and CEO Mike Crawley’s
planned departure from the Company on September 30th.
Mr. Brace continues to serve as Chair of the
Board and Ian Pearce continues as Lead Independent
Director.
Mr. Brace has been with Northland since 1988, serving as CEO
from 2003 to 2018, and has played a pivotal role in the Company’s
growth and success. His leadership and expertise have been
instrumental as Northland continues to focus on its key priorities,
including successfully advancing the Company’s three large
construction programs – Hai Long, Baltic Power and Oneida – as well
as prudently advancing Northland’s 9GW development
pipeline.
Northland will provide a further update when a permanent
President and CEO has been appointed.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
forward-looking information within the meaning of applicable
securities laws (“forward-looking statements”) that are provided
for the purpose of presenting information about management’s
current expectations and plans. Readers are cautioned that such
statements may not be appropriate for other purposes. Northland’s
actual results could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, the
events anticipated by the forward-looking statements may or may not
transpire or occur. Forward-looking statements include statements
that are predictive in nature, depend upon or refer to future
events or conditions, or include words such as “expects,”
“anticipates,” “plans,” “predicts,” “believes,” “estimates,”
“intends,” “targets,” “projects,” “forecasts” or negative versions
thereof and other similar expressions or future or conditional
verbs such as “may,” “will,” “should,” “would” and “could.” These
statements may include, without limitation, statements regarding
Northland’s expectations for the completion of construction of
projects, the expected generating capacity of projects, all of
which may differ from the expectations stated herein. These
statements are based upon certain material factors or assumptions
that were applied in developing the forward-looking statements,
including management’s current plans and its perception of
historical trends, current conditions and expected future
developments, as well as other factors, estimates, and assumptions
that are believed to be appropriate in the circumstances. Although
these forward-looking statements are based upon management’s
current reasonable expectations and assumptions, they are subject
to numerous risks and uncertainties. Some of the factors include,
but are not limited to, those described in the “Risks Factors”
section of Northland’s Management’s Discussion and Analysis and
Annual Information Form for the year ended December 31, 2023, which
can be found at www.sedarplus.ca
under Northland’s profile and on Northland’s website at
northlandpower.com. Northland has
attempted to identify important factors that could cause actual
results to materially differ from current expectations, however,
there may be other factors that cause actual results to differ
materially from such expectations. Northland’s actual results could
differ materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurances can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, and Northland cautions you not
to place undue reliance upon any such forward-looking
statements.
The forward-looking statements contained in this release
are, unless otherwise indicated, stated as of the date hereof and
are based on assumptions that were considered reasonable as of the
date hereof. Other than as specifically required by law, Northland
undertakes no obligation to update any forward-looking statements
to reflect events or circumstances after such date or to reflect
the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.
ABOUT NORTHLAND POWER
Northland Power is a global power producer dedicated to helping
the energy transition by producing electricity from renewable
resources. Founded in 1987, Northland has a long history of
developing, building, owning and operating renewable power
infrastructure assets and is a global leader in offshore wind. In
addition, Northland owns and manages a diversified generation mix
including onshore renewables, natural gas energy, as well as
supplying energy through a regulated utility.
Headquartered in Toronto, Canada, with global offices in
eight countries, Northland owns or has an economic interest in
approximately 3.2GW (net 2.8GW) of operating capacity. The Company
also has a significant inventory of projects in construction and in
various stages of development encompassing approximately 12GW of
potential capacity. Publicly traded since 1997, Northland's common
shares, Series 1 and Series 2 preferred shares trade on the Toronto
Stock Exchange under the symbols NPI, NPI.PR.A and
NPI.PR.B, respectively.
For further information, please contact:
Dario Neimarlija, Vice President, FP&A and Investor
Relations
(647) 288-1019
investorrelations@northlandpower.com
Victor Gravili, Head of Global Brand & Integrated
Communications
(647) 288-1105
communications@northlandpower.com
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