Sean M. Durfy Appointed President and Chief Executive Officer of Ascendant Group Limited

Hamilton, Bermuda – August 18, 2016 – In a filing with the Bermuda Stock Exchange (“BSX”), Ascendant Group Limited (the "Ascendant Group" or “Company”; Ticker: AGL.BH) has appointed Sean M. Durfy to succeed Walter M. Higgins who will be retiring as President & Chief Executive Officer. The full filing stated:

Hamilton, Bermuda (Thursday, 18 August 2016) – Ascendant Group Limited has appointed Sean M. Durfy to succeed Walter M. Higgins who will be retiring as President & Chief Executive Officer.

Mr. Durfy will join Ascendant Group on 12 September 2016 having most recently served as President and Chief Development Officer of Northland Power Inc., an independent power producer and developer that builds, owns and operates facilities in Canada, Europe and other jurisdictions. Previously, Mr. Durfy was President, Chief Executive Officer and Director of Canadian airline WestJet.

Mr. Durfy brings with him a track record of innovative business strategy and leadership focused on developing business growth and corporate culture. In addition to his position at Northland Power Inc., Mr. Durfy’s experience in the electricity sector includes having served as President and Chief Operating Officer of ENMAX Energy Corporation, an electricity and natural gas company headquartered in Calgary, Alberta and Director Energy Marketing at TransAlta Energy Marketing Corporation, also in Calgary.

In making today’s announcement, Chairman of the Ascendant Group Board of Directors Peter Durhager said, “In anticipation of Walt’s retirement and as part of a planned succession process, the Board conducted an extensive local and international talent search and is excited to welcome a proven leader of Sean’s caliber and experience to succeed Walt. Since June 2012, Ascendant Group has benefited from Walt’s great depth of knowledge and experience in the electricity and energy businesses. We very much appreciate his contribution and wish him well in retirement.”

Mr. Durfy said, “I am looking forward to moving to Bermuda with my family and being part of  the Ascendant Group and the wider Bermuda community. This is a particularly interesting time as I will be joining Ascendant Group as Bermuda is moving through a transformative period in the energy industry.” Mr. Higgins will remain available as an advisory resource to Mr. Durfy and the Board during a transition period.  

Ascendant Group Limited is a publicly traded investment holding company whose shares trade on the Bermuda Stock Exchange (AGL.BH).  Ascendant Group’s vision is to be Bermuda’s  trusted, preferred provider of energy and infrastructure solutions.  Ascendant Group Limited is the parent company of Bermuda Electric Light Company Limited (BELCO), and AG Holdings Limited , which includes Air Care Limited, iFM Limited, IEPC Limited, PureNERGY Renewables Ltd. and Ascendant Properties Limited. 

For further information about Ascendant Group Limited, visit www.ascendant.bm