Press Release

FortisTCI President & CEO Eddinton Powell to Retire and is Succeeded by Senior VP of Corporate Services & CFO Ruth Forbes

FortisTCI President & CEO Eddinton Powell to Retire and is Succeeded by Senior VP of Corporate Services & CFO Ruth Forbes 26Jun 2020

Providenciales, Turks and Caicos Islands (Friday, June 26, 2020) – FortisTCI President and CEO Eddinton Powell will retire from the company after serving for 13 years, and will be succeeded by Ruth Forbes as President and CEO, effective August 2, 2020.

The announcement was made earlier today by Gary Smith, Chair of the Board of Directors of FortisTCI. Effective August 1, 2020, Mr. Powell will transition into the role of Strategic Advisor through the end of this year, reporting to the Board of Directors. Mr. Powell will also remain a Director on the Board until that time.

Mrs. Forbes is a native of the Turks and Caicos Islands and from the island of North Caicos. She joined FortisTCI in 2006, and currently serves as Senior Vice President of Corporate Services and Chief Financial Officer, where she oversees the finance, customer service, communications and human resources functions. Prior to joining FortisTCI, Mrs. Forbes worked as a Senior Auditor at PWC (formerly PriceWaterhouseCoopers). She has a Diploma in Business Administration (Honors) from University of Technology, Kingston, Jamaica and a Bachelor’s degree in Accounting from Barry University, Florida. She is also a Certified Management Accountant (CMA).

“On behalf of all employees and the Board of Directors, I want to congratulate Ruth Forbes on her appointment. Ruth brings tremendous experience and personal acumen to this important position, as well as strong connections to the communities on the islands,” said Gary Smith, Chair, FortisTCI Board of Directors. “I also wish to thank Eddinton Powell for his contribution to the electricity sector in the Turks and Caicos Islands and wish him well in his retirement.”

Barry Perry, President and CEO, Fortis Inc., stated, “Ruth’s insights and vision for the company and its customers are admirable and I am confident that she will continue to advance FortisTCI as an innovative and sustainable energy leader in the Caribbean. “I extend my congratulations to Ruth, as well as my thanks to Eddinton for leading the progressive transformation of the electricity sector in the Turks and Caicos Islands.”

In response to her appointment, Mrs. Forbes said, "I am pleased to have been selected as Mr. Powell's successor. I am also thankful to the Board of Directors and Fortis Inc. for their confidence in my ability, and to Mr. Powell for his leadership. Our company is respected as a trailblazing utility both regionally and internationally. In my new role, I will continue our drive toward excellence with the FortisTCI team, while bringing value to our stakeholders. I must also acknowledge and thank my family for their unwavering support."

Speaking about the announcement, Mr. Powell said, "It has been an honor to serve as the CEO of FortisTCI for the last 13 years. My love and respect for the Turks and Caicos Islands are deep and abiding. As I move into a new phase of my life, I leave behind a strong company and a talented team that will achieve great things. I know that Ruth will do well in her new role, and I wish her all the very best on her journey."

Mr. Powell joined FortisTCI in 2007 as President and CEO, after serving as Senior Vice President and CFO at Caribbean Utilities Company (CUC) in the Cayman Islands, a Fortis company. He began his career in the utility sector at CUC in 1982, and currently serves as Chairman of the Board of Caribbean Electric Utilities Corporation (CARILEC), and will continue in that role until December 2020.

Caption: FortisTCI President and CEO Eddinton Powell (L) retires and Senior Vice President of Corporate Services and CFO Ruth Forbes is named successor, effective from August 2, 2020.

Notes to Editors:

About FortisTCI

FortisTCI Limited (FTCI) is the public electricity supplier in Turks and Caicos, serving the islands of Providenciales, North Caicos, Middle Caicos, South Caicos, East Caicos, and the adjacent Cays. Turks and Caicos Utility Limited (TCU), purchased by FortisTCI in August 2012, delivers electricity on the Islands of Grand Turk and Salt Cay. Together, the two companies have more than 15,000 customers, an aggregate diesel-fired generating capacity of approximately 90.7 megawatts, and 1MW of grid-tied rooftop distributed solar PV. For further information visit www.fortistci.com.

FortisTCI is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. For further information visit www.fortisinc.com.