Skip to main content

Fortis Inc. Announces Retirement of Executive Vice President, Business Development, Chief Technology Officer and Appoints Senior Vice President, Capital Markets and Business Development

Written by Customer Service on . Posted in Public Companies.

ST. JOHN’S, Newfoundland and Labrador, Sept. 02, 2021 (GLOBE NEWSWIRE) — Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS) today announced the retirement of Jim Laurito, Executive Vice President, Business Development, Chief Technology Officer effective December 31, 2021 and the appointment of Stuart Lochray as Senior Vice President, Capital Markets and Business Development effective September 8, 2021.

“Jim Laurito has had a tremendously successful career in the energy sector,” said David Hutchens, President and CEO, Fortis Inc. “His experience, insights and leadership have been invaluable to our Company and our industry. We wish him all the best in his retirement.”

Prior to his executive roles with Fortis, Jim served as President and CEO of Fortis utility Central Hudson Gas & Electric, and of both New York State Electric & Gas Corporation and Rochester Gas and Electric Corporation. He serves on the Board of Bowman Consulting Group Ltd., as well as several industry boards, including the Edison Electric Institute, American Gas Association, American Gas Foundation (Chair) and the Alliance for Transportation Electrification (Chair).

“We are pleased to welcome Stuart Lochray as Senior Vice President, Capital Markets and Business Development to our team,” said David Hutchens. “Stuart brings 18 years of international finance and investment banking experience with Scotiabank to a role that will be key in executing our strategy.”

Stuart has held progressively more responsible positions with Scotiabank, most recently serving as Managing Director and Head US Corporate and Investment Banking in Houston, Texas where he led and managed 225+ professionals throughout Corporate and Investment Banking, Equity Capital Markets and Global Business Payments. Stuart has also served as Managing Director in various other areas of investing banking with a focus on the power and utilities sector.

His career has spanned North America and the United Kingdom, as well as Pakistan. A Master of Engineering and MBA graduate, Stuart has had a longstanding business relationship with Fortis, providing guidance through numerous financial transactions, mergers and acquisitions.

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry with 2020 revenue of $8.9 billion and total assets of $56 billion as at June 30, 2021. The Corporation’s 9,000 employees serve utility customers in five Canadian provinces, nine US states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.

A .pdf version of this press release is available at: 
http://ml.globenewswire.com/Resource/Download/c69d48ff-5653-4d0c-bbc6-ccb538d76130

For more information, please contact
Investor Enquiries:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
248.946.3572
samaimo@fortisinc.com

Media Enquiries:
Ms. Karen McCarthy
Vice President, Communications and Corporate Affairs
Fortis Inc.
709.737.5323
media@fortisinc.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.