On a May 10 conference call with analysts to discuss Algonquin’s first-quarter results, Huskilson clarified that the succession plan referenced by Moore doesn’t mean another CEO search will start soon and that he is committed to being Algonquin’s leader over the longer term.
“When I say succession, I truly mean succession as in, ‘We need to develop successors within and from without, if necessary, as well,’” Huskilson said. “We do need to develop a proper and appropriate succession plan, which the company doesn’t have today.”
That, Huskilson added, will mean placing more emphasis on the leadership teams at Algonquin’s various utilities, which market electricity, natural gas, water and wastewater management services under the Liberty brand.
“The skills and capabilities that will be developed and will exist in the field [are] going to be a lot stronger,” he said. “We need to develop a succession plan across the entire company to facilitate that development.”
Word of Huskilson’s permanent appointment comes about three weeks after the Algonquin board finalized an agreement with Starboard Value LP, the company’s largest investor, to replace Moore and fellow director Masheed Saidi. Set to take their places are former Xcel Energy Inc. Chief Customer Officer Brett Carter and Hydro One Ltd. executive Christopher Lopez.