Ex-Ontario cabinet minister Sandra Pupatello has also been tapped to take over as chairwoman of Hydro One, which operates the province's transmission network.
Both government appointments take effect on April 1.
Pupatello, a former leadership rival to Premier Kathleen Wynne, is CEO of Windsor Essex Economic Development Corp. and a director at PricewaterhouseCoopers.
Lord is president and CEO of the Canadian Wireless Telecommunications Association.
Three OPG executives were fired in December after the auditor general released a damning report about generous salaries, pensions and bonuses at the utility.