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Scott Balfour – CEO of Emera Inc. (EMA.TO)
Scott Balfour has been the President and CEO of Emera Inc. since 2018. He joined the company as Chief Financial Officer in 2012 and became Chief Operating Officer in 2016. Under his leadership, Emera has expanded its footprint across North America and the Caribbean, focusing on delivering cleaner, affordable, and reliable energy to its customers. Balfour played a pivotal role in the $10.4 billion USD acquisition of TECO Energy in 2016, one of Canada's largest cross-border M&A transactions at the time.
📊 The CEO of Emera Inc. makes approximately C$9.14 million per year.
📊 Company Overview: Emera Inc.
| Detail | Info |
|---|---|
| Ticker | EMA.TO (TSX), EMA (NYSE) |
| Sector | Utilities |
| Industry | Electric & Gas Utilities |
| Market Cap | ~C$18.5 B (as of June 2025) |
| Founded | 1998 |
| Headquarters | Halifax, Nova Scotia, Canada |
| Employees | ~11,000 (2022) |
| Key Operations | Canada, U.S. (Florida, New Mexico), Caribbean |
| 2024 Revenue | C$7.86 billion |
| 2024 Net Income | C$870 million |
Emera Inc. is a diversified energy and services company with investments in electricity generation, transmission, and distribution, as well as gas transmission and utility energy services. Its subsidiaries include Nova Scotia Power, Tampa Electric, and New Mexico Gas Company, serving over 2.5 million customers across North America and the Caribbean.
👤 CEO Profile: Scott Balfour
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Nationality: Canadian
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Education: Bachelor of Business Administration (Honours), Wilfrid Laurier University; MBA, Ivey Business School, University of Western Ontario
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Career Highlights:
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Joined Emera as CFO in 2012
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Became COO in 2016
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Appointed President & CEO in 2018
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Led the $10.4B USD acquisition of TECO Energy in 2016
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Leadership Focus:
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Strategic growth through acquisitions
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Transition to cleaner energy sources
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Enhancing shareholder value
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Board Memberships:
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Chair of Tampa Electric and Nova Scotia Power
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Former Director of Martinrea International Inc.
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Past Chair of the Ontario Energy Association
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💰 CEO Compensation
| Component | Value (C$) |
|---|---|
| Base Salary | $1.19 million |
| Annual Bonus | $2.1 million |
| Share-Based Awards | $5.85 million |
| Other Compensation | $0.01 million |
| Total Compensation | $9.14 million |
Note: The total compensation includes base salary, bonuses, stock options, and other incentives.
🏆 Strategic Priorities Under Balfour
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Clean Energy Transition: Investing in renewable energy sources and reducing carbon emissions across operations.
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Infrastructure Modernization: Upgrading aging infrastructure to improve reliability and efficiency.
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Customer-Centric Approach: Enhancing customer experience through digital transformation and service improvements.
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Sustainable Growth: Pursuing strategic acquisitions and investments to drive long-term shareholder value.
🧭 Notable Achievements
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2021: Named CEO of the Year by Atlantic Business Magazine.
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2016: Led the $10.4B USD acquisition of TECO Energy, expanding Emera's presence in the U.S. market.
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Growth: Under Balfour's leadership, Emera's market capitalization increased from C$13.82B in 2023 to C$18.54B in 2025.
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Qayyum Rajan, CFA
Qayyum is the CEO of Wealth Awesome, a leading Canadian personal finance publication. As a CFA charterholder with extensive experience in fintech, data science, and quantitative finance, he brings a unique analytical perspective to investing and wealth management.
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