Bruce Power’s president and CEO Mike Rencheck was named the CEO of the Year for 2020 by the Ontario Chamber of Commerce.
The Ontario Business Achievement Awards held by the Chamber is the most recognized industry gala in Ontario, according to a media release distributed Wednesday.
The annual gala celebrates the innovation and success of a broad range of industry sectors and sizes from across the province.
“I’m extremely grateful to the Ontario Chamber of Commerce for the OBAA award and I accept it on behalf of our employees whose collective efforts have kept us safe and healthy through a very challenging 2020,” Rencheck said in a media release. “We have been able to continue safe and reliable operations on our site, and at the same time, work with our suppliers, elected leaders, businesses and organizations to help people in our communities through this public health crisis.”
The award recognizes Rencheck’s leadership at Bruce Power as the nuclear energy company has taken on a large role in supporting the community through the COVID-19 pandemic.
In March, Bruce Power used its sizeable supply chain and network of contacts to supply personal protective equipment (PPE) for frontline healthcare workers in Bruce, Grey and Huron counties at a time when stocks were running low and resupply was delayed. To date, Bruce Power has provided two million pieces of PPE across the province.
Bruce Power has also raised more than $500,000 for area food banks, helped raise $380,000 for local and national organizations facing funding shortfalls, and split a $400,000 donation with the Power Workers’ Union to the University Health Network for the research and development of ventilators to treat COVID patients and funding of the Grey Bruce Huron Strong app to support local businesses.
Meanwhile, Bruce Power continues to harvest Cobalt-60, which is used for the sterilization of medical equipment and for the treatment of certain forms of cancer. The company has harvested enough Cobalt-60 to sterilize up to 25 billion pairs of gloves or COVID-19 swabs.
Rencheck has also led Bruce Power in establishing a community economic development platform that has led to over 60 companies moving into Grey, Bruce and Huron counties.
Speaking to the Empire Club of Canada earlier this month, Rencheck unveiled the company’s Net Zero 2050 strategy to help Canada eliminate greenhouse gas emissions by 2050.
“We are extremely proud to honour Mike Rencheck as CEO of the Year,” said Rocco Rossi, president and CEO of the Ontario Chamber of Commerce. “He has contributed significantly to the prosperity of communities across the province. Under Mike’s leadership, Bruce Power has continued to produce 30 per cent of Ontario’s electricity at 30 per cent less than the average cost to generate residential power, and the company continues its production of medical isotopes to support health care across Canada and internationally.”
Since joining Bruce Power in 2016, Rencheck has overseen the company’s operations, isotope programs, and community and economic development efforts while launching a $13-billion Life-Extension Program to extend the operation of its eight nuclear units to 2064. The Life-Extension Program, the largest private-sector infrastructure project in Canada, includes the Major Component Replacement Project.