« Back

Management Change at Emera

HALIFAX, Nova Scotia, May 14, 2003, (TSX:EMA): Emera Inc. announced today that Wayne Rousch, Senior Vice-President Business Development has resigned from the Company effective May 31, 2003 to pursue other opportunities in western Canada.

Mr. Rousch joined Emera in 2000, to assist the Company to identify, and pursue new opportunities related to development of Nova Scotia's offshore petroleum resource. "Wayne has helped position Emera for growth," said David Mann, President and Chief Executive Officer. "Emera is ready to advance our shareholders' interests in offshore-related activities as opportunities become available."

Mr. Rousch's former responsibilities will now be shared by Chris Huskilson, Chief Operating Officer, and Ron Smith, Chief Financial Officer.

About Emera Inc.

Emera Inc. (EMA-TSX) is a diversified energy and services company, with 550,000 customers and $4.0 billion in assets. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company. Nova Scotia Power supplies over 95% of the electric generation, transmission and distribution in Nova Scotia. Bangor Hydro provides electricity transmission and distribution service to 107,000 customers in eastern Maine. It is a member of the New England Power Pool, and is interconnected with the other New England utilities to the south and with New Brunswick Power to the north. In addition, Emera Energy manages Emera's growing gas infrastructure investment portfolio, including its 12.5% interest in the Maritimes & Northeast Pipeline, which delivers Sable natural gas to markets in Maritime Canada and the northeastern United States; and an 8.4% interest in the Sable Offshore Energy Project offshore platforms and sub-sea field gathering lines. Emera Energy also incorporates Emera Energy Services, Emera Fuels, and Emera's business development activities.