New Nalcor CEO Stan Marshall is dividing the Muskrat Falls project into two components, and ushering in changes to the company's executive structure.

On Wednesday, Marshall explained the changes to the structure of Nalcor that he said will help the company zero in on its main priorities.

Marshall said those priorities are the completion of Muskrat Falls, the integration of the provincial electricity system with Muskrat Falls power and separation between Newfoundland and Labrador Hydro and Nalcor's unregulated business operations.

He said the Muskrat Falls project will now be divided into two separate areas of focus: Power supply and power development.

Power supply will focus on all transmission-related activities for the project, while power development will be focused on completing the hydroelectric generating facility at Muskrat Falls. Marshall says dividing those two will help focus in on priorities and timetables.

"The timing of the two are not the same, so one has to prepare for operation sooner than the other," he said.

"What it really does is bring more focus and more resources for that project overall and so we hope it will improve performance and execution as well."

'They're good people'

Marshall said as part of the transition, he's bringing former N.L. Hydro employee Jim Haynes out of retirement to become president of N.L. Hydro. 

Jim Haynes, NL Hydro

Jim Haynes is being rehired, on contract, to be president of NL Hydro, a job he retired from in 2013. (CBC)

Haynes retired in 2013 after 35 years of work with Nalcor, and the company said "his experience and expertise will be invaluable" to the organization going forward.

Nalcor said Hydro will become a separate business unit to ensure its separation from unregulated business activities. 

In an email to CBC, Nalcor also said Haynes's pension from his previous time with the company will be put on hold while he is working for the company this time around.

Haynes will not be getting extra compensation, the email stated, with the exception of a possible performance-based bonus, car allowance, vacation and other standard employee benefits package.

New positions for major players

Elsewhere at Nalcor, Marshall outlined several key areas where the company is shuffling its deck and shifting key players into new positions, however said there will be no major personnel changes at Nalcor.

Marshall defended the decision to keep most of the same executives on for the project, despite a bit of shuffling around.

He gave the simple explanation of "because they're good people," when asked about the decision at a Wednesday press conference.

Gilbert Bennett, the current VP of the Lower Churchill Project, will now be the Executive VP of Power Development while John MacIssac, the current president of N.L. Hydro, will become Executive VP of Power Supply.

Derrick Sturge, Nalcor's Chief Financial Officer, will continue in his role under the new title of Executive VP, Finance. 

Finally Jim Keating, the current VP of Nalcor's Oil and Gas line of business will become the Executive VP of Corporate Services and Offshore Development.

His position will include his former duties, while making him the executive lead for Bull Arm Fabrication, Energy Marketing, and the company's corporate services

It's all part of an effort that Marshall said will streamline Nalcor's efforts on its main priorities. 

"I'm confident these changes will clearly focus the company's attention on our areas of key risk and allow us to deliver on our commitment to provide safe, reliable, cost-effective electricity service to the people of this province," said Marshall.

An updated chart of Nalcor's organizational structure is below.

Nalcor restructuring.

The new executive structure for Nalcor.