ERCOT CEO fired after Texas winter storm power failure

In an emergency meeting Wednesday night, board members for the agency that manages the state's power grid voted to fire its CEO.

Bill Magness will have 60 days to leave his post as the head of the Electric Reliability Council of Texas.

The ERCOT board voted 6-1 in favor of removing Magness, with many members abstaining.

"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," the board said in a statement. "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."

Several board members had already resigned in the wake of last month's winter storm catastrophe.

MORE: Five ERCOT board members who live outside of Texas resign in week after power outage, winter storm

Earlier this week, the head of the Public Utility Commission, which oversees ERCOT, resigned from her post.

RELATED: Public Utility Commission chair resigns after Texas officials criticize management of power outages

ERCOT has taken a lot of the blame for the outages that left millions without power for days.

Lawmakers and power companies say it didn't adequately warn them of potential trouble until it was too late.