Bruce Power CEO Mike Rencheck to Retire in 2024, Successor Named

Bruce Power CEO Mike Rencheck will retire on June 30, 2024, after leading the company since 2016. Eric Chassard, current Executive VP of Projects & Engineering, will succeed Rencheck as President and CEO on July 1, 2024.

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Nitish Verma
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Bruce Power CEO Mike Rencheck to Retire in 2024, Successor Named

Bruce Power CEO Mike Rencheck to Retire in 2024, Successor Named

Bruce Power, one of Canada's largest nuclear power companies, has announced that President and CEO Mike Rencheck will be retiring effective June 30, 2024. Rencheck has led Bruce Power since 2016, overseeing major refurbishment projects and the company's response to the COVID-19 pandemic.

Why this matters: The leadership transition at Bruce Power comes at a critical time as Canada shifts towards cleaner energy sources to combat climate change, and the company's nuclear power generation plays a significant role in achieving the country's net-zero emissions goal by 2050. The successful continuation of Bruce Power's refurbishment program and its contribution to a low-carbon energy mix will have a lasting impact on Canada's environmental and economic future.

Eric Chassard, currently Bruce Power's Executive Vice President of Projects & Engineering, has been named as Rencheck's successor. Chassard will take over as President and CEO starting July 1, 2024. He has been with Bruce Power since 2010 in various leadership roles.

During Rencheck's tenure, Bruce Power has undertaken a multi-year Life Extension Program to refurbish six of its eight CANDU nuclear reactors. This will allow the plant to continue providing Ontario with clean, reliable energy through 2064. Rencheck also guided the company through the challenges of operating during the global pandemic.

Chassard, as the incoming CEO, will be tasked with continuing Bruce Power's refurbishment program, which is one of Canada's largest clean energy projects. He will also lead the company's efforts to leverage nuclear power in support of Canada's goal of achieving net-zero emissions by 2050.

Bruce Power is a critical part of Ontario's electricity system, supplying about 30% of the province's power. The company's planned leadership transition comes at a pivotal time, as Canada and the world look to shift to cleaner energy sources to combat climate change. With Rencheck's retirement and Chassard's appointment, Bruce Power is positioning itself to play a key role in that transition over the coming decades.

Key Takeaways

  • Bruce Power CEO Mike Rencheck to retire on June 30, 2024.
  • Eric Chassard to succeed Rencheck as President and CEO on July 1, 2024.
  • Bruce Power's refurbishment program to continue under Chassard's leadership.
  • Company aims to support Canada's net-zero emissions goal by 2050.
  • Bruce Power supplies 30% of Ontario's power, making it a critical energy provider.