ST. JOHN'S, NEWFOUNDLAND AND LABRADOR - Fortis Inc. (TSX:FTS) ("Fortis" or the "Corporation") today announced that its Board of Directors has accepted, with regret, the resignation of Mr. Paul J. Bonavia as a director of the Corporation. Mr. Bonavia resigned in order to remain in compliance with the rules of another entity of which he is a director. These rules would not permit Mr. Bonavia to serve as a director of Fortis following the announcement by the Corporation today that it has entered into an agreement to acquire ITC Holdings Corp.
"We want to thank Paul for his invaluable contribution to the company. His thoughtful leadership and insightful perspective during his limited tenure on our Board have been invaluable," said David G. Norris, Chair of the Board of Fortis. "We wish him the best of luck in his future endeavours."
The Board of Directors and Fortis would like to extend their thanks and appreciation for the service of Mr. Bonavia.
Fortis is a leader in the North American electric and gas utility business, with total assets of approximately $28.6 billion as at September 30, 2015 and revenue totalling approximately $6.7 billion during the twelve month period ended September 30, 2015. Its regulated utilities serve more than three million customers across Canada and in the United States and the Caribbean. Fortis also owns long-term contracted hydroelectric generation assets in British Columbia and Belize.
Fortis' shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.