Charles Reid, president and CEO of BC Hydro, says Cheryl Yaremko is “steady and unflinching under pressure.” And that may be the best among the many commendations Yaremko has garnered since 2011 when she became CFO of BC Hydro, one of the largest electric utlities in Canada, overseeing a $700 million annual budget, $4.9 billion in revenue and $23 billion in assets, while under intense scrutiny from the media, industry, government and the public. As CFO, Yaremko has led a transformational change at B.C.’s largest Crown corporation. She developed BC Hydro’s first 10-year rate plan, a move that received applause from both government and industry and, Reid noted, “will help keep rates as low as possible.” Yaremko also converted BC Hydro to International Financial Reporting Standards, implemented a full financial system SAP (systems, applications and products in data processing) integration and brought the BC Transmission Corp.’s financial operations back into BC Hydro. “These projects came in on time and on budget and have resulted in significant savings and efficiencies for BC Hydro and its customers,” noted Tracey McVicar, chair of BC Hydro’s audit and finance committee. Yaremko is also a member of the BC Investment Management Corp. board and the Financial Executives International national board, is raising a young family, mentors women in business, remains a passionate patron of the arts and last year was awarded the Peak Award for Excellence in the Public Sector. |
