Mike Rencheck Appointed President and CEO of Bruce Power

TIVERTON, ON, July 18, 2016 /CNW/ - The Board of Directors announced today the appointment of Michael W. Rencheck as the President and Chief Executive Officer of Bruce Power starting August 15, 2016. Mike is a seasoned executive in the international nuclear industry bringing to the role extensive experience in nuclear operations, major capital projects and tireless advocacy for the important role nuclear power plays as a safe, low-cost, clean and reliable source of electricity.

"The international experience and track record that Mike Rencheck brings to the table in operations, project execution and as a strong voice for the industry are a perfect fit as the organization embarks on a multi-year investment program to secure its role in Ontario's Long Term Energy Plan," said Don Wishart, Chair of the Bruce Power Board of Directors. "Throughout his career, he has demonstrated his commitment to the values that are important to the continued success of Bruce Power including Safety First, corporate social responsibility, believing in people and striving for innovation," added Wishart.

Over the last 33 years, Mike Rencheck has served in a number of roles and most recently was the Deputy Chief Operating Officer for AREVA overseeing its extensive Global capital portfolio of nuclear and renewable projects. Prior to this, he served as President and CEO of AREVA Inc. in North America leading its diverse nuclear services business in Canada and the United States with a workforce of about 5,000 people. He has also held a range of leadership positions including Chief Nuclear Officer at American Electric Power (AEP) and Senior Vice-President Engineering, Project and Field Services for AEP's 38,000 MWs of generation assets. A biography of Mike can be found here along with an introductory video.

"Throughout my career, I have worked closely with many in Canada's nuclear industry and Bruce Power now with eight units in operation. As the new President and CEO, I look forward to building on this success and working with the strong team of employees to continue to deliver Bruce Power's role in Ontario's Long Term Energy Plan," said Mike Rencheck. "I also look forward to building on the reputation Bruce Power has built as an organization that is committed to its number one value of 'Safety First', while also playing a positive role in the communities where it operates and delivering safe, low-cost, clean and reliable electricity to Ontario families and businesses."

In 2014, Mike was recognized by the National Safety Council for his leadership demonstrating a personal commitment to worker safety and health as part of 'CEO's who get it." He also has demonstrated a commitment to many organizations that make a difference in people's lives including Habitat for Humanity and United Way. He is a Professional Engineer and has a Master's Degree in Management and Computer Information Systems from Robert Morris University, an Electrical Engineering Degree from Ohio Northern University, and a Senior Reactor Operator certification.

"While I know Mike knows our area from his work over many years with AREVA, a company with a strong local presence, I would like to welcome him to the region on behalf of the County of Bruce. We are honoured to have attracted an international nuclear leader to our community to support this industry which is a major economic driver not just in Bruce County but throughout the Province," said Mayor Mitch Twolan, Warden of Bruce County. "Bruce Power is an internationally-recognized organization with strong community roots and it's great to see we have attracted an individual from the Global nuclear industry who also has a track-record of valuing community."

Since March, Kevin Kelly has served as Acting President and Chief Financial Officer of Bruce Power providing leadership during this transition. "I also want to recognize the strong leadership our Acting President and Chief Financial Officer, Kevin Kelly, has provided the organization during this transition period. Under Kevin's leadership, Bruce Power successfully advanced important areas of our business plan and he will remain a key leader within the company as Chief Financial Officer," added Don Wishart.

About Bruce Power
Bruce Power operates the world's largest operating nuclear generating facility and is the source of roughly 30 per cent of Ontario's electricity. The company's site in Tiverton, Ontario is home to eight CANDU reactors. Formed in 2001, Bruce Power is a Canadian-owned limited partnership of affiliates of the Ontario Municipal Employees Retirement System, TransCanada Corporation, the Power Workers' Union and the Society of Energy Professionals. A majority of Bruce Power's employees are also owners in the business.

For updated Bruce Power photos and b-roll video, please visit our Media Kit page.

SOURCE Bruce Power

Video with caption: "Video: Mike Rencheck Appointed President and CEO of Bruce Power". Video available at: http://stream1.newswire.ca/cgi-bin/playback.cgi?file=20160718_C6503_VIDEO_EN_736406.mp4&posterurl=http%3A%2F%2Fphotos.newswire.ca%2Fimages%2F20160718_C6503_PHOTO_EN_736406.jpg&order=1&jdd=20160718&cnum=C6503

Image with caption: "Mike Rencheck, Bruce Power's new President and Chief Executive Officer. (CNW Group/Bruce Power)". Image available at: http://photos.newswire.ca/images/download/20160718_C6503_PHOTO_EN_736337.jpg

PDF available at: http://stream1.newswire.ca/media/2016/07/18/20160718_C6503_PDF_EN_736424.pdf

John Peevers - 519-361-6583; Bruce Power Duty Media - 519-361-6161