BC Hydro CEO quits for new job

Seventeen months after moving from the Vancouver Olympics to CEO of BC Hydro, Dave Cobb is leaving the utility at the end of November.

BC Hydro CEO Dave Cobb

Seventeen months after moving from the Vancouver Olympics to CEO of BC Hydro, Dave Cobb is leaving the utility at the end of November.

BC Hydro chairman Dan Doyle announced Cobb’s departure Wednesday. Cobb is leaving to take a senior management position at the Jim Pattison Group.

Cobb called his new job “an unexpected, once-in-a-lifetime career opportunity with another iconic B.C. company that I simply could not pass up.” He said his decision has nothing to do with the ongoing cost-cutting exercise at BC Hydro that led to the reduction of 550 jobs, with another 150 to come.

Energy Minister Rich Coleman praised Cobb’s work in the review that reduced proposed rate increases by half for the next two years.

Cobb served as deputy CEO for the Vancouver Olympics for six years, prior to succeeding Bob Elton as boss at BC Hydro in May 2010.

Doyle said the search for a new CEO will begin immediately.

“From his first day, Dave championed both a ‘safety first’ and team approach, setting the foundation for a more strategic and cost efficient company,” Doyle said.