Fortis Management

Management criteria checks 2/4

Fortis' CEO is Dave Hutchens, appointed in Jan 2021, has a tenure of 3.25 years. total yearly compensation is CA$14.40M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. directly owns 0.026% of the company’s shares, worth €4.67M. The average tenure of the management team and the board of directors is 3.3 years and 6.4 years respectively.

Key information

Dave Hutchens

Chief executive officer

CA$14.4m

Total compensation

CEO salary percentage	11.7%
CEO tenure	3.3yrs
CEO ownership	0.03%
Management average tenure	3.3yrs
Board average tenure	6.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dave Hutchens's remuneration changed compared to Fortis's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	CA$14m	CA$2m	CA$2b
Sep 30 2023	n/a	n/a	CA$1b
Jun 30 2023	n/a	n/a	CA$1b
Mar 31 2023	n/a	n/a	CA$1b
Dec 31 2022	CA$12m	CA$2m	CA$1b
Sep 30 2022	n/a	n/a	CA$1b
Jun 30 2022	n/a	n/a	CA$1b
Mar 31 2022	n/a	n/a	CA$1b
Dec 31 2021	CA$9m	CA$1m	CA$1b
Sep 30 2021	n/a	n/a	CA$1b
Jun 30 2021	n/a	n/a	CA$1b
Mar 31 2021	n/a	n/a	CA$1b
Dec 31 2020	CA$7m	CA$1m	CA$1b
Sep 30 2020	n/a	n/a	CA$1b
Jun 30 2020	n/a	n/a	CA$1b
Mar 31 2020	n/a	n/a	CA$2b
Dec 31 2019	CA$5m	CA$1m	CA$2b
Sep 30 2019	n/a	n/a	CA$2b
Jun 30 2019	n/a	n/a	CA$2b
Mar 31 2019	n/a	n/a	CA$1b
Dec 31 2018	CA$7m	CA$907k	CA$1b
Sep 30 2018	n/a	n/a	CA$973m
Jun 30 2018	n/a	n/a	CA$975m
Mar 31 2018	n/a	n/a	CA$992m
Dec 31 2017	CA$5m	CA$857k	CA$963m

Compensation vs Market: Dave's total compensation ($USD10.53M) is above average for companies of similar size in the German market ($USD5.66M).

Compensation vs Earnings: Dave's compensation has increased by more than 20% in the past year.

CEO

Dave Hutchens (56 yo)

3.3yrs

Tenure

CA$14,398,098

Compensation

Mr. David Gerard Hutchens, also known as Dave, serves as President, Chief Executive Officer and Director at Fortis Inc. since January 1, 2021. Mr. Hutchens had been Chief Operating Officer of Fortis Inc. s...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Hutchens	President	3.3yrs	CA$14.40m	0.026% CA$ 4.7m
Jocelyn Perry	Executive VP & CFO	5.8yrs	CA$3.94m	0.011% CA$ 2.0m
Gary Smith	Executive Vice President of Operations & Innovation	2.3yrs	CA$3.40m	0.0085% CA$ 1.5m
James Reid	Executive VP of Sustainability & Chief Legal Officer	6.1yrs	CA$3.50m	0.0064% CA$ 1.2m
Stuart Lochray	Senior Vice President of Capital Markets & Business Development	2.6yrs	CA$2.24m	0.0029% CA$ 520.2k
Kevin Woodbury	Vice President of Innovation & Technology	2.6yrs	no data	0.0031% CA$ 559.8k
Keri Glitch	Chief Information Officer & VP	less than a year	no data	no data
Stephanie Amaimo	Vice President of Investor Relations	6.5yrs	no data	0.0018% CA$ 320.4k
Karen McCarthy	Vice President of Communications and Government Relations	5.9yrs	no data	0.00075% CA$ 135.0k
Tanya Finlay	Vice President of People & Culture	less than a year	no data	0.0013% CA$ 234.0k
Regan O'Dea	VP & General Counsel	6.9yrs	no data	0.0021% CA$ 369.0k
Susan Gray	Executive Vice President of Western Utility Operations	no data	no data	no data

3.3yrs

Average Tenure

52yo

Average Age

Experienced Management: 12F's management team is considered experienced (3.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Hutchens	President	3.3yrs	CA$14.40m	0.026% CA$ 4.7m
Maura Clark	Independent Corporate Director	8.9yrs	CA$401.02k	0.00041% CA$ 73.8k
Julie Dobson	Independent Corporate Director	5.9yrs	CA$377.64k	0.00076% CA$ 136.8k
Jo Zurel	Independent Chair	7.9yrs	CA$474.61k	0.0020% CA$ 365.4k
Donald Marchand	Independent Director	less than a year	CA$156.67k	0.0010% CA$ 181.8k
Pierre Blouin	Independent Corporate Director	8.9yrs	CA$357.05k	0.00053% CA$ 95.4k
Tracey Ball	Independent Corporate Director	9.9yrs	CA$416.07k	0.0010% CA$ 189.0k
Margarita Dilley	Independent Corporate Director	7.9yrs	CA$470.60k	0.00061% CA$ 109.8k
Lawrence Borgard	Independent Corporate Director	6.9yrs	CA$351.38k	0.0020% CA$ 365.4k
Lisa Crutchfield	Independent Director	1.9yrs	CA$318.60k	no data
Gianna Manes	Independent Director	2.9yrs	CA$339.05k	no data
Lisa Durocher	Independent Director	2.9yrs	CA$293.10k	no data

6.4yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 12F's board of directors are considered experienced (6.4 years average tenure).

Fortis Management

Management criteria checks 2/4

Key information

Recent management updates

President recently bought €892k worth of stock

Fortis Inc., Annual General Meeting, May 02, 2024

High number of new directors

Chief Information Officer & VP recently sold €109k worth of stock

Fortis Inc., Annual General Meeting, May 04, 2023

Fortis Inc. Announces Board Changes

Recent updates

New minor risk - Shareholder dilution

President recently bought €892k worth of stock

Dividend of CA$0.59 announced

Fortis Inc., Annual General Meeting, May 02, 2024

Full year 2023 earnings released: EPS: CA$3.10 (vs CA$2.78 in FY 2022)

Fortis Inc. to Report Q2, 2024 Results on Jul 31, 2024

Fortis Inc. Declares Dividend for the Second Quarter of 2024, Payable on June 1, 2024

Upcoming dividend of CA$0.59 per share at 4.5% yield

Fortis Inc. Announces First Quarter 2024 Dividend, Payable on March 1, 2024

Upcoming dividend of CA$0.59 per share at 4.2% yield

Third quarter 2023 earnings released: EPS: CA$0.81 (vs CA$0.68 in 3Q 2022)

Fortis Inc. Announces Fourth Quarter Dividend, Payable on December 1, 2023

Upcoming dividend of CA$0.56 per share at 4.2% yield

Second quarter 2023 earnings released: EPS: CA$0.61 (vs CA$0.59 in 2Q 2022)

Fortis Inc. to Report Q4, 2023 Results on Feb 09, 2024

Fortis Inc. Announces Dividend for the Third Quarter 2023, Payable on September 1, 2023

High number of new directors

Upcoming dividend of CA$0.56 per share at 3.7% yield

First quarter 2023 earnings released: EPS: CA$0.90 (vs CA$0.74 in 1Q 2022)

Chief Information Officer & VP recently sold €109k worth of stock

Fortis Inc., Annual General Meeting, May 04, 2023

Full year 2022 earnings released: EPS: CA$2.78 (vs CA$2.61 in FY 2021)

Fortis Inc. Announces Second Quarter Dividend on the Common Shares, Payable on June 1, 2023

Upcoming dividend of CA$0.56 per share at 4.1% yield

Fortis Inc. Announces Dividend, Payable on March 1, 2023

Upcoming dividend of CA$0.56 per share

Third quarter 2022 earnings released: EPS: CA$0.68 (vs CA$0.63 in 3Q 2021)

FortisAlberta Inc. Declares Fourth Quarter Dividend

Now 21% undervalued after recent price drop

Fortis Inc. to Report Q3, 2022 Results on Oct 28, 2022

Upcoming dividend of CA$0.54 per share

Second quarter 2022 earnings released: EPS: CA$0.59 (vs CA$0.54 in 2Q 2021)

Fortis Inc. Announces Board Changes

Fortis Inc. Announces Dividend on Common Shares, Payable on September 1, 2022

Executive VP recently bought €57k worth of stock

Upcoming dividend of CA$0.54 per share

Fortis Inc. Appoints Lisa Crutchfield to the Board

Fortis Inc. Announces Executive Changes

First quarter 2022 earnings released: EPS: CA$0.74 (vs CA$0.76 in 1Q 2021)

Fortis Inc., Annual General Meeting, May 05, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Fortis Inc. to Report Q2, 2022 Results on Jul 28, 2022

Fortis Inc. Declares Second Quarter Dividend, Payable on June 1, 2022

Upcoming dividend of CA$0.54 per share

Upcoming dividend of CA$0.54 per share

Upcoming dividend of CA$0.51 per share

Second quarter 2021 earnings released: EPS CA$0.54 (vs CA$0.59 in 2Q 2020)

Upcoming dividend of CA$0.51 per share

First quarter 2021 earnings released: EPS CA$0.76 (vs CA$0.67 in 1Q 2020)

Fortis Inc. Declares Dividend on Common Shares, Payable on June 1, 2021

President recently bought €664k worth of stock

New 90-day low: €32.25

Fortis Inc., Annual General Meeting, May 06, 2021

Revenue misses expectations

Full year 2020 earnings released

New 90-day low: €32.80

New 90-day low: €32.91

Third quarter 2020 earnings released: EPS CA$0.63

Revenue misses expectations

Fortis Inc. to Report Q4, 2020 Results on Feb 12, 2021

Third quarter earnings released

Third-quarter earnings released: Revenue misses expectations

New 90-day high: €35.18

Fortis Inc. to Report Q3, 2020 Results on Oct 30, 2020

Fortis Inc. Announces Executive and Board Changes

CEO Compensation Analysis

CEO

Tenure

Compensation