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____ Wednesday March 9, 2016 ____



New Chief Executive Officer Appointed for Guelph Hydro Electric Systems Inc. and Envida Community Energy Inc.

The Guelph Municipal Holdings Inc. (GMHI) Board of Directors has appointed Pankaj Sardana (right) to the position of Chief Executive Officer of Guelph Hydro Electric Systems Inc. and Envida Community Energy Inc., effective immediately. Day-to-day operations of Guelph Hydro Electric Systems Inc. (GHESI) will remain under the leadership of Kazi Marouf, who will continue in his role as GHESI Chief Operating Officer reporting to the new CEO.

“With more than 30 years of experience in the energy sector and an impressive set of skills in finance and treasury operations, accounting, regulatory affairs, commodity trading, load forecasting and other aspects of the electricity distribution business, the GMHI, GHESI and Envida Boards of Directors have great confidence that Pankaj Sardana is ideally suited to lead the organization in creating long-term economic, environmental and social value for the community,” said Cam Guthrie, Mayor of Guelph and Chair of the GMHI Board.

Sardana joined Guelph Hydro Inc. in November 2012 as Chief Financial Officer and assumed the position of Chief Financial Officer for GMHI in September 2014. Prior to joining Guelph Hydro, he held senior executive positions with Ontario Power Generation and Toronto Hydro Corporation. He also gained energy sector experience earlier in his career in positions with the Ontario Ministry of Energy, Consumers Gas (now Enbridge Gas Distribution), Ontario Hydro and Ontario’s Independent Electricity System Operator (IESO). Sardana has a Master’s degree in Economics and is a Chartered Financial Analyst.

Sardana takes over as head of GHESI and Envida from R.L. (Bud) Smith, a GMHI Board member who was appointed to the position in May 2015 on an interim basis.

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