Aida Cipolla joining OPG as Chief Financial Officer

Toronto, ON – Aida Cipolla will join Ontario Power Generation (OPG) as Chief Financial Officer (CFO), effective March 7, 2022.

An experienced business executive, Ms. Cipolla comes to OPG from Toronto Hydro, where she has worked since 2008, most recently as Executive Vice President and CFO. She has supported critical initiatives such as electricity rate applications, and successfully reshaped the Finance function using transformational strategies that include automation, blending industry best practices and practical business solutions to drive strong financial performance.

Ms. Cipolla is known as a forward thinking thought leader and spokesperson for the electricity industry. She currently chairs the Canadian Electricity Association (CEA) CFO committee. She was recognized as one of Canada’s Most Powerful Women in 2020 and an Honouree in Canada's Top 40 Under 40 in 2019.

Ms. Cipolla’s interest in climate change dovetails well with OPG’s strategic plans. In her previous role, she led the Climate Action Plan financial strategy to support the City’s Transform TO initiative towards sustainability.

Ms. Cipolla will be supported through a transition with the assistance of current OPG CFO John Mauti who retires March 31, 2022 after a long and successful career.

Quick Facts about Aida Cipolla

• Along with holding an Honours Bachelor of Commerce from McMaster University, Ms. Cipolla also holds two accounting designations: she is a Chartered Professional Accountant and a Chartered Accountant.
• She is the first woman to chair the CEA CFO committee, leading the National Committee of CFOs from Canada’s largest generation, transmission, and distribution utilities, addressing industry and financial issues.
• In her previous role, Ms. Cipolla directed all activities in strategic business planning, treasury, investor management, tax, internal audit, and compliance, financial planning, and analysis, external financial and regulatory reporting, financial systems and services, business partnering, and capital planning and reporting. As well, she led the financial response to the COVID-19 pandemic.

Quotes

“Aida Cipolla is a welcome addition to OPG’s executive leadership team,” said Ken Hartwick, OPG’s President and CEO. “Aida’s strong and empowering leadership style, coupled with her interest and experience in driving sustainability efforts are well aligned with OPG’s key strategic initiatives, including our Climate Change Plan.”

“I am pleased to be joining OPG at such an exciting time of new growth and transformation,” said Ms. Cipolla. “I am impressed by OPG’s commitment to achieving Net Zero as a company by 2040 and acting as a catalyst for efficient economy-wide decarbonization and economic renewal and look forward to lending my skills to help achieve those goals.”

About OPG

As a global climate change leader and the largest, most diverse electricity generator in the province, OPG and its family of companies are helping lead the charge to a post-carbon economy.