UPDATED 5/1/17 - Prominent community leaders appointed to Tampa Electric Co. board
TAMPA, April 25, 2017
Jeff Vinik is unable to serve on the Tampa Electric Co. board of directors. “Unfortunately, I have recently learned of a challenge my family investment business presents for me to serve on the board of TECO,” Vinik said. “Emera and TECO have a vision for Tampa Bay that complements my vision, and TECO has selected an excellent board of leaders with a strong commitment to the community. Even though I am not able to serve as a member of the board, I know we will continue to work closely together to advance the Tampa Bay region.”
Five prominent business and community leaders from across the state have been appointed to the Tampa Electric Co. board of directors. This board oversees both the company's electric utility, Tampa Electric, and its natural gas utility, TECO Peoples Gas.
Joining the board, effective May 2, will be:
- Pat Geraghty, chief executive officer of Jacksonville-based Florida Blue (Florida's Blue Cross/Blue Shield plan) and its parent company, GuideWell Mutual Holding Corp., where he serves on the board. He is the chair of the Florida Council of 100, a non-profit group of community leaders who work closely with the governor and other state leaders on economic development issues. He is very involved in the community, serving on the board for MaliVai Washington Youth Foundation, as chair for United Way of Northeast Florida's board of trustees and as a member of the Jacksonville Civic Council.
- Pam Iorio, president and chief executive officer of Big Brothers Big Sisters of America. She has spent three decades in public service, including two terms as mayor of Tampa.
- Rhea Law, chair of the Florida offices of Buchanan Ingersoll and Rooney PA law firm and immediate past chair of the Florida Council of 100. She has held the top leadership positions in many civic and charitable organizations, including the chair of the University of South Florida's board of trustees.
- Jeff Vinik, owner of the Tampa Bay Lightning (NHL) team. Together with Bill Gates' Cascade Investment, Vinik is a partner in Strategic Property Partners, a development company embarking on a $3 billion, 10-year redevelopment of southern downtown Tampa. Vinik previously managed the Fidelity Magellan mutual fund and Vinik Asset Management.
- Will Weatherford, managing partner of Weatherford Partners, a private equity investment and strategic business advisory firm based in Tampa. He served four terms in the Florida House of Representatives, including two years as speaker, when he was the youngest speaker in America.
"We are delighted to have these five well-admired leaders join the Tampa Electric Co. board," said Scott Balfour, chief operating officer of Emera Inc. and chairman of the Tampa Electric Co. board. "Their interest in serving is a testament to the outstanding reputation built by this company for over 100 years. This dynamic group will help guide Tampa Electric and Peoples Gas to a future of cleaner, sustainable energy and service for our customers and communities."
In July 2016, Tampa Electric Co. became a subsidiary of Emera, based in Halifax, Nova Scotia. Emera believes local directors who are community leaders are best-positioned to oversee that our utilities provide the service our customers desire.
Tampa Electric, one of Florida's largest investor-owned electric utilities, serves about 730,000 customers in West Central Florida. Peoples Gas System, Florida's largest natural gas distribution utility, serves about 370,000 customers across Florida.
About Emera Inc.
Emera Inc. (TSX: EMA) is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately CA$29 billion in assets and 2016 revenues of more than CA$4 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera continues to target having 75 percent to 85 percent of its adjusted earnings come from rate-regulated businesses. Emera's common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR. Additional Information can be accessed at www.emera.com, www.sedar.com or at www.sec.gov.