New attitude at Enmax, Nenshi says

Calgary's mayor says the city's biggest corporate asset is back on track after a scandal-plagued year. Naheed Nenshi said he was pleased after city council met Thursday with the board of directors at Enmax.

The utility was rocked by a series of controversies over the past year.

CEO Gary Holden was fired last January after CBC News revealed he accepted a free trip to Monaco from an Enmax supplier.

In October last year it was revealed Holden was among the highest paid heads of any publicly-owned company or government agency in Alberta, collecting $2.4 million in 2008 and $2.7 million in 2009, including base pay and bonuses.

Nenshi says many things have now changed at the city-owned utility company.

"The compensation for the board was cut significantly. The target compensation range for the new CEO is significantly less than what the old CEO was being paid and I think that's important," he said.

Nenshi added that the company is now adhering to very high standards of disclosure, which was not the case before.

"But the most important thing is really a shift in tone," he said.

Enmax is expected to name a new CEO early next year.