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Bruce Power announces retirement of Mike Rencheck, Eric Chassard to assume role of President and CEO

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Tiverton, Ontario, May 13, 2024 – Bruce Power today announced that Mike Rencheck, currently President and CEO, will be retiring from this position effective June 30, 2024, and will assume the role of Executive Vice-Chair as he will continue to serve as a senior advisor to Bruce Power and the Industry, including as Chair of the Board of the World Association of Nuclear Operators (WANO) Atlanta Centre.

With this retirement, Bruce Power is pleased to announce the promotion of Eric Chassard to the position of President and CEO effective July 1, 2024. Reporting to Bruce Power’s Board of Directors, Eric will lead Bruce Power, one of Ontario’s largest power generators and medical isotope producers, through a strategy to safely provide clean, affordable, reliable power and life-saving medical isotopes while strengthening communities and protecting the environment to power the future.

Eric joined Bruce Power in 2019 as the Executive Vice-President of Projects and Engineering. In this role, Eric successfully led the on-time and on-budget delivery of our Life Extension program and implemented a comprehensive project management technique and a long-term procurement strategy securing partnerships through the end of our six-unit refurbishment undertaking. The first unit refurbishment, Unit 6, was successfully returned to service ahead of schedule and under budget in 2023.

Previously, Eric held a series of Senior Executive positions, both in Nuclear Operations and multi-billion dollar projects portfolios, at Areva, Orano, Bechtel and Hitachi, directly leading more than 6,500 people in 13 different countries as CEO of subsidiaries or joint ventures. Eric has a degree in Engineering with a specialization in Nuclear Engineering and holds a Post-Graduate Diploma in Nuclear Reactor Physics. Eric proudly became a Canadian citizen in 2023.

Commenting on Eric’s appointment to President and CEO, Bob Aziz, Chair of the Bruce Power Board of Directors, said: “Eric’s leadership experiences represent an unparalleled combination of nuclear power operations and project management, as well as extensive regulatory and stakeholder relations experience. This uniquely qualifies Eric to lead Bruce Power as we work to complete our Life Extension Program, and improve and expand plant operations to meet the growing demands for affordable, reliable and clean energy. The Board, having worked closely with Eric over the last several years, is confident of his commitment to safety, our employees, our communities and the businesses that count on us every day.”

In announcing Rencheck’s retirement, Mr. Aziz recognized Mike’s distinguished career of more than four decades that included serving nearly eight years as Bruce Power’s President and CEO.

“Over the last eight years, Mike’s leadership has made a difference for Bruce Power and our communities,” Aziz said. “He has played a key role in shaping and implementing the strategy that has positioned us as a world-class nuclear operator and isotope producer with a clear path for growth creating economic development opportunities for local communities, including the Chippewas of Saugeen First Nation and Chippewas of Nawash Unceded First Nation, and the Province. He has brought credibility to Bruce Power and worked tirelessly to deliver value to Ontario, our employees, owners, and our partners, while also serving as a mentor and coach to many of our leaders. We are a stronger company today because of his many contributions.”

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