Newmarket’s electricity provider is getting a power shift as Newmarket-Tay Power Distribution president and CEO Ysni Semsedni is stepping down.
Semsedini is set to transition to a position as CEO with London Hydro starting Aug. 6 after four years as the head of NT Power.
“Bittersweet is an understatement,” Semsedini said to Newmarket council June 17 regarding his departure. “This community has been fantastic. It will be an experience that I won’t soon forget."
The board of directors has appointed Stuart Smith as NT Power’s interim CEO. Stuart joined NT Power four years ago as chief information officer.
NT Power board chair Dave Charleson said they are grateful for the contributions Semsedini has made.
“He provided exemplary leadership to NT Power and has built a solid, skilled and capable team,” Charleson said. “We are confident that the outstanding executive team that Ysni has built will steer NT Power seamlessly through this transition period."
Newmarket Mayor John Taylor thanked Semsedini for his efforts over the past few years.
“It’s been a great journey. Not just an interesting one, a great one,” Taylor said. “You’ve moved the organization forward considerably … in terms of our capital program, in terms of our financial trafficking, in terms of some of our key metrics. We are an organization that is much more sophisticated.
“We’re going to make sure we move further and higher from there,” Taylor added. “There’s still work to be done, but we’re on very, very solid ground and that’s mostly due to your leadership.”
The organization said that recruitment for a new CEO is taking place, but Smith will work alongside Semsedini during the transition.
“NT Power remains committed to delivering the highest standards of service and operational efficiency to our community,” the company said. “We value the ongoing support and understanding of our stakeholders during this period of change.”
