By Scott Simpson and Jonathan Fowlie, Vancouver Sun, October 20, 2011
New position with Jim Pattison Group too good to pass up, he says
Dave Cobb is stepping down as president and CEO of BC Hydro to take a job with the Jim Pattison Group, less than 17 months after he joined the Crown utility.
Hydro made the surprise announcement Wednesday, prompting suggestions from some observers that the departure was due to the government's deep involvement in the Crown corporation's operations.
Cobb joined Hydro in May 2010 after six years as executive vice-president and deputy CEO for the 2010 Olympic and Paralympic Games. He will remain in his Hydro post until Nov. 30.
Cobb's boss in the Vancouver Olympic organization was Dan Doyle, now the BC Hydro board chairman.
Cobb's brief tenure at Hydro was marked by controversy - although no more so than any of his recent predecessors including the CEO he replaced, Bob Elton, who led Hydro for six years before he was shuffled out of his job by Doyle.
Cobb leaves Hydro at a time when the Crown corporation faces a daunting array of challenges as it works to renew itself after years of government inaction, and for which it needs bold leadership.
In late September, Hydro launched a federal environmental review of its proposed Site C dam project on the Peace River near Fort St. John.
Hydro is also facing a need for substantial rate hikes to support renewal of an aging hydroelectric system, controversial installation of digital smart meters for home and business customers, energy conservation initiatives, expensive transmission projects - and a once-in-a-generation surge of industrial demand for electricity in the northeast and northwest sectors of the province.
"I've caught a lot of people by surprise I think," Cobb said. "I was approached a couple of months ago about a position with the Jim Pattison Group. When I learned more about the opportunity there, and met the people there I realized it was something that I wanted to do.
"Had that opportunity not come up I would still be staying at Hydro."
Cobb said he's confident that Hydro's board of directors, executives and staff will "continue their unwavering commitment to our province and our customers."
Cobb said it was "unfortunate" that he's making the move after a relatively short tenure at Hydro.
"I'd certainly planned to probably spend that four or five years or so that is probably typical for a CEO at a Crown corporation.
"It's very difficult to leave BC Hydro but I'm going to something that I'm very, very excited about."
In Victoria, Energy and Mines Minister Rich Coleman said he could not fault Cobb for the career switch.
"He got an offer that he couldn't refuse and I don't blame him for taking it," Coleman said.
"When you're sitting there and you're getting headhunted and somebody comes and makes you an offer that is substantially better than where you're at, you have to make a choice for your own future and your family.
"We can't compete at the same level because we have guidelines around these things with regard to our Crown corporations, but private corporations are always looking for good people. If they see an opportunity, they take them."
Doyle stated that Cobb "successfully led a team that has positioned BC Hydro to meet the economic growth of our province and the electricity demands for British Columbia well into the future."
David Black, president of COPE 378, the union local representing the majority of Hydro workers, described Cobb as a "well-respected businessman" and said the resignation came as a shock.
Black said Cobb was subject to political interference and called on the provincial government to relinquish oversight of Hydro to the B.C. Utilities Commission.
NDP energy critic John Horgan also suspects political interference was a factor.
"Dave Cobb is a very capable guy. He was highly regarded when he arrived," Horgan said.
"For Mr. Cobb to leave speaks to me of blatant interference by the minister, by the premier and by the government - that the B.C. Liberals have said to Mr. Cobb, 'Fire 1,000 people. We don't care how, we don't care why. Just fire 1,000 people.' "It's my view that Mr. Cobb said, 'Look, I'm not doing that any more. There are other things I can do,' and that's why he left BC Hydro."
ssimpson@vancouversun.com
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