TORONTO - Ontario Power Generation will pay around $3.4 million to fire three executives after last yearís scathing auditor generalís report slamming the giant electricity generation utility.
John Murphy, executive v-p of strategic initiatives, Lou Pollieri, v-p assurance and chief audit executive, and chief financial officer Donn Hanbidge were fired in December after auditor Bonnie Lysyk revealed a litany of mismanagement.
Murphy, who had 33.5 years of service with OPG, was given $1.7 million in severance. Pollieri had only three years and got $265,000.
Hanbidge has yet to settle, but in a statement Friday, OPG said that based on his years of experience and contract requirements, itís expected he will get about $1.4 million.
Hanbidge had 14 years service with the company. His contract calls for 24-months compensation.