Westario Power CEO Guy Cluff is putting his retirement on hold.
Cluff was to enjoy his last day today but with his blessing, the board of directors in a special meeting yesterday, extended his contract to the end of the September.
Board chair Mark Kraemer says the company is actively pursuing the possibility of mergers or acquisitions.
Kraemer says any success in that area will only come if Cluff remains on board for the time being.
Kraemer says the current minister of energy in Ontario is focused on reducing the number of Local Distribution Companies (LDC) in the province.
He says this can happen through a sale of a company or a merger with other partners.
Kraemer says Westario is in negotiation with several companies that fall into the same category as Westario.
There are no deals yet but exploratory talks continue and Kraemer says they need Cluff’s expertise to bring these to fruition.
Cluff announced his retirement this past May but indicated he would be open to staying on a bit longer if it was necessary.
