Geoff Simpson, the chief financial officer of Hydro Ottawa Holding Inc., has been recognized as chief financial officer of the year for 2024 by the Ottawa Business Journal and the Ottawa Board of Trade.
The CFO of the Year Award was established in 2018 to recognize the critical role that finance leaders play in successful organizations.
The award criteria includes: notable actions to maximize their organization’s financial strength and growth during the period, a demonstrated commitment to achieving best practices in accounting, success in overcoming significant financial challenges and an overall contribution to the community.
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Past recipients include Steve Spooner (Mitel), Jacqueline Gauthier (Calian Group), Julie Morin (Minto REIT and Minto Group), Vanessa Kanu (Telus International), Erin Crowe (Ottawa Senators Hockey Club) and Nathalie Cadieux (Ottawa Hospital).
The selection committee included Ian Sherman, past chair of the Ottawa Board of Trade, and Andrea Roy of awards sponsor Deloitte.
In his current role, Simpson supervises the finance, treasury, regulatory, and risk management groups and is the chief financial spokesperson for the organization. He is a key member of the executive management team and advises on matters relating to financial reporting, budget management, cost benefit analysis, forecasting needs, and the securing of new funding.
Simpson has more than 30 years of senior financial experience. Prior to joining Hydro Ottawa, Simpson was directorate leader for the Ottawa Police Service and prior to that manager of financial support at the City of Ottawa.
This year, in response to Hydro Ottawa’s growth and business diversification, Simpson led a financial restructuring to reduce borrowing costs, increase financial capacity and support future growth.
Simpson has played a leadership role in helping Hydro Ottawa understand how climate change might impact the utility going forward.
Simpson also supported the launch of Hiboo Networks, which owns and operates a 100-per-cent fibre optic network designed for Ottawa. Originally built by Hydro Ottawa to support its electrical infrastructure, this network is now being expanded to serve the evolving needs of businesses and organizations across the region.
In the community, Simpson has led Hydro Ottawa’s Charity Golf Classic for the last few years. This year, the tournament kicked off a three-year commitment to raise $500,000, which is being directed to The Royal Ottawa Prompt Care Clinic, allowing it to extend the pilot of its new model of care.
Simpson has been part of the Royal Ottawa Foundation board of directors since January 2023 and was appointed vice-chair in June of this year. He holds a bachelor of commerce from Carleton University and is a CPA, CGA.
Simpson and other recipients will be honoured at the Best Ottawa Business Awards (the BOBs) on Friday, Nov. 29th at the Westin Ottawa.
