The Electric Reliability Council of Texas board has voted to fire ERCOT President and CEO Bill Magness.
The ERCOT board said in a news release, "The ERCOT Board of Directors met this evening and directed the Corporate Secretary to exercise the 60 days’ termination notice to ERCOT President and CEO Bill Magness pursuant to the employment agreement with ERCOT. During this transition period, Bill will continue to serve as President and CEO and work with state leaders and regulators on potential reforms to ERCOT. The ERCOT Board is expected to begin an immediate search for a new President and CEO, and will continue to discuss the transition plan at future meetings during this time period.”
The decision follows the massive blackouts that took place during last month's winter storm in Texas.