Another top-level political appointment resigns amid allegations of expense-account improprieties and is immediately awarded severance. Only days after the Ontario auditor general's annual report indicted the Hydro One chief executive officer of fraudulent expense-account practises, Hydro One's board of directors today "decided to honour the severance provisions" in Tom Parkinson's contract, the very same day that he resigned. Not incidentally, this is the same board that appointed Parkinson and was found by the auditor general to be in breach of its obligation to review Parkinson's expenses.
Wait, there's more coming and going around:
Ontario's publicly owned Hydro One utility continues to pick up the high-priced golf tab for its top executives, Sun Media has learned. Documents obtained under Freedom of Information legislation confirm that three of the electricity transmission company's executives have enjoyed the Prestige class of membership from a prominent chain of courses called ClubLink for three years. The memberships required a $50,000 initiation fee, according to a company official. ClubLink's top courses also charge more than $4,000 in annual dues, according to the company website.
Formusa has also been named Hydro One's acting president and chief executive officer after Parkinson's departure.
Hydro One president and CEO Tom Parkinson (whose salary and taxable benefits topped $1 million last year), chief financial officer Ken Hartwick ($760,000) and general counsel Laura Formusa ($346,000) first received the golf memberships in 2002, according to a company report.
How likely is that, if the discussion doesn't begin right with the owners?
Duncan acknowledged that he and Premier Dalton McGuinty have discussed "the need for a culture of change."
Friday, December 8, 2006
Posted by MapMaster on Friday, December 08, 2006