CDEV Announces Board of Directors of Trans Mountain Corporation

Nov 7, 2018 | Announcements

The Board of Directors of Canada Development Investment Corporation (CDEV) is pleased to announce the appointment of several prominent Canadians to the Board of Directors overseeing the governance and management of Trans Mountain Corporation (TMC).

The newly-constituted Board will be chaired by William Downe, former CEO of BMO Financial Group. Mr. Downe will be joined on the Board by:

  • Harold Calla, Executive Chair of the First Nations Financial Management Board, and a member of the Squamish First Nation;
  • David Emerson, Corporate Director, Public Policy Advisor and former senior cabinet minister with the Government of Canada;
  • Brian Ferguson, former President and CEO of Cenovus Energy Inc.;
  • Carol Anne Hilton, CEO and Founder of the Indigenomics Institute;
  • Patricia Koval, Corporate Director and lawyer, formerly a senior partner with Torys LLP;
  • Lorraine Mitchelmore, former President and Country Chair, Shell Canada;
  • Marie-Jose Nadeau, Honorary Chair of the World Energy Council;
  • Paul Rochon, Deputy Minister of the Department of Finance Canada;
  • Ian Anderson, former President of Kinder Morgan Canada, and current President and CEO of Trans Mountain Corporation; and
  • Stephen Swaffield, Acting Board Chair of CDEV, and a former Vice President of Terasen Inc. and British Gas.

“I am pleased to join this experienced and distinguished group of individuals who share my belief that this important infrastructure asset and proposed expansion project are serving the interest of all Canadians. We have great confidence in the management and operation of Trans Mountain Corporation and the proposed expansion of the project.” said Mr. Downe.

“Our single-minded focus is on ensuring TMC continues to run efficiently and commercially and that the proposed expansion application moves forward in the right way, ensuring we also meet our obligation and commitment to consult fully and in good faith with Indigenous communities,” said Mr. Swaffield. “The calibre of the new board reflects the strong national support from the business community.”

“TMC will continue to be guided by our collective pledge to couple economic growth with environmental protection and the interests of affected Indigenous communities,” said Mr. Anderson. “The proposed expansion project would give Canadian oil producers critical access to world markets, fostering economic growth while meeting strict, world-class regulatory conditions.”

About Canada Development Investment Corporation

CDEV is a federal Crown corporation responsible for commercial management of assets owned by the Government of Canada, reporting to the Minister of Finance.

About Trans Mountain Corporation

Trans Mountain Corporation, a wholly owned subsidiary of CDEV, owns and operates Canada’s only pipeline system transporting crude oil and refined products to the West Coast. TMC is also the proponent of a proposed expansion of this line from 300,000 to 890,000 barrels per day.

Trans Mountain Corporation (TMC) Board of Directors

William Downe (Chair)
William Downe spent a long and distinguished career with BMO Financial Group, starting with Bank of Montreal in 1983 and holding a variety of senior management positions in Canada and the United States. Mr. Downe served as CEO of BMO Financial Group from 2007 to 2017. He serves on the board of Loblaw Companies Limited, ManpowerGroup and on the Social and Economic Policy Advisory Board of Rand Corporation. Mr. Downe has served as a board member and advisor to numerous private, public and non-profit organizations, including the Business Council of Canada, the International Monetary Conference, the Martin Prosperity Institute at the Rotman School of Management, St. Michael’s Hospital and Rush University Medical Center, among others. He holds a BBA from Wilfred Laurier University and an MBA from the University of Toronto. Mr. Downe is a Member of the Order of Canada.

Harold Calla
Harold G. Calla, FCPA, FCGA, CAFM is a member of the Squamish First Nation located in North Vancouver, B.C. After many years working in international business, he worked with the Squamish Nation as a negotiator in the areas of economic development, land management and finance and served for eight years on the Squamish Council. Mr. Calla serves as Executive Chair of the First Nations Financial Management Board, and is a member of the Aboriginal Financial Officers Association. Mr. Calla has served on the boards of FortisBC, Canada Mortgage and Housing Corporation, Partnerships BC and the Nicola Valley Institute of Technology. He is the recipient of numerous awards in recognition of excellence in leadership. In particular, the Certified General Accountants Association of Canada recognized Mr. Calla as one of 100 outstanding CGAs during its centennial year in 2008.

David Emerson
David L. Emerson, P.C., O.B.C. has held senior positions with the Government of Canada, including as Minister of Foreign Affairs, Minister of Industry and Minister of International Trade with responsibility for the Asia Pacific Gateway Initiative and the Vancouver 2010 Olympic and Paralympic Games. Mr. Emerson was previously Deputy Minister of Finance, Secretary to Treasury Board, and Deputy Minister to the Premier and Secretary to Cabinet in the B.C. Government. His leadership roles in the private sector include: President and CEO of Canfor Corporation, President and CEO of the Vancouver International Airport Authority and Chairman and CEO of Canadian Western Bank. Mr. Emerson holds Bachelor and Master degrees in Economics from the University of Alberta and a Doctorate in Economics from Queens University. He is a recipient of the Order of British Columbia.

Brian Ferguson
Brian C. Ferguson, FCA, served as Chief Executive Officer and President of Cenovus Energy Inc. from November 2009 until October 2017. Mr. Ferguson’s business experience spans a variety of areas including finance, business development, reserves, strategic planning, evaluation and communications. Mr. Ferguson has been an Independent Director at the Toronto-Dominion Bank since March 2015. He has also served as a Non-Independent Director of Cenovus Energy Inc., past Chairman of the Canadian Institute of Chartered Accountants’ Risk Oversight and Governance Board and as a board member of the Canadian Council of Chief Executives, among others. Mr. Ferguson is a Chartered Accountant and a Fellow of the Chartered Professional Accountants of Alberta. He holds a BComm degree from the University of Alberta and completed the Executive Management program at the University of Western Ontario.

Carol Anne Hilton
Carol Anne Hilton is the CEO and Founder of The Indigenomics Institute. Ms. Hilton is a recognized Indigenous business leader and senior advisor with an international Master’s Degree in Business Management (MBA) from the University of Hertfordshire, England. Ms. Hilton is of Nuu chah nulth descent from the Hesquiaht Nation on Vancouver Island. Ms. Hilton currently serves on the BC Emerging Economy Task Force as an advisor to the Minister of Jobs, Trades and Technology as well as on the BC Indigenous Business and Investment Council for the Ministry of Indigenous Relations and Reconciliation. Ms. Hilton was appointed as a senior advisor to the federal Finance Minister on the Canadian Federal Economic Growth Council. Ms. Hilton’s work has been recognized most recently with the national Excellence in Aboriginal Relations Award from the Canadian Council for Aboriginal Business. Ms. Hilton currently serves as Director on the McGill University Institute for the Study of Canada and the National Canadian Community Economic Development Network.

Patricia Koval
Patricia Koval is a corporate director and lawyer. Ms. Koval retired in December 2016 as a Senior Partner of Torys LLP where she practiced as a corporate and securities lawyer, focusing on mergers and acquisitions, corporate finance and governance. She also co-founded and was co-chair of Torys’ interdisciplinary Climate Change and Emissions Trading Practice. Ms. Koval was an Adjunct Professor at the University of Toronto Law School and she currently serves on its Environmental Finance Advisory Council. She has a long history of Board service and volunteering in the conservation sector, including the World Wildlife Fund Canada, Toronto and Region Conservation Foundation, Rainforest Trust, Turtle Survival Alliance and the Wildlife Conservation Society. Ms. Koval graduated from the joint MBA/J.D. program at Schulich School of Business and Osgoode Hall Law School in Toronto.

Lorraine Mitchelmore
Lorraine Mitchelmore has more than 30 years of oil and gas experience with more than a third of her career working internationally. Her most recent roles include CEO of Enlighten Innovations, various senior positions in Royal Dutch Shell, including Executive Vice-President Heavy Oil Americas and President and Country Chair of Shell Canada from 2009-2016. Prior to Royal Dutch Shell, she held various positions in BHP Petroleum, Chevron and Petro Canada. She serves on the Bank of Montreal board of directors, Catalyst Canada Advisory Council, is the Chair of the Federal Resources of the Future Economic Strategy Table and served on the Federal Government’s NAFTA Environmental Advisory Council. Ms. Mitchelmore holds a Bachelor’s degree in Geophysics from Memorial University of Newfoundland, a Master’s degree in Geophysics from the University of Melbourne, Australia and an MBA from Kingston Business School in London, England.

Marie-Jose Nadeau
Marie-Jose Nadeau is a Corporate Director and an expert in energy. She is the past Chair of the World Energy Council where she served from 2013 to 2016. During her tenure as Chair of the Council, she travelled the world, outreaching to its 100 Member committees, meeting with Heads of State and Energy Ministers and speaking on global energy issues. From 1993 to 2015, she served as Executive Vice-President and Secretary General of Hydro-Quebec. A trained lawyer, she was a key player at Hydro-Quebec for over 20 years. Ms. Nadeau is a Director of ENGIE where she is the Chair of the Audit Committee and a member of the Strategy, Investment and Technology Committee. She is also a Director of Metro, where she chairs the Governance and Nominating Committee and is a member of the Human Resources Committee. In addition, she is the Vice Chair of the Advisory Council of the Electric Power Research Institute (EPRI), based in the United States, and Vice Chair of the Montreal Symphony Orchestra. Ms. Nadeau holds a Master’s Degree in Public Law from the University of Ottawa. In 2009, the Quebec Bar awarded her with the distinction Advocatus Emeritus in recognition of her contribution to the legal profession. In 2016, she was appointed a Member of the Order of Canada in recognition of her outstanding support to many organizations involved in the arts and education.

Paul Rochon
Paul Rochon assumed the position of Deputy Minister of Finance Canada on April 21, 2014. Prior to this appointment, Mr. Rochon served as Deputy Minister of International Development, under the new Department of Foreign Affairs, Trade and Development. Previously, Mr. Rochon was Associate Deputy Minister of Health and concurrently Special Advisor to the Minister of Finance on negotiations for a Canadian securities regulator. Mr. Rochon has more than 20 years of experience at the Department of Finance and held a number of positions, including Associate Deputy Minister of Finance and Canada’s Finance Deputy at the G-7, G-20 and the Financial Stability Forum, as well as Senior Assistant Deputy Minister in the Economic and Fiscal Policy Branch. Prior to joining the Department of Finance, Mr. Rochon worked for three years at the Conference Board of Canada. He holds a Bachelor’s degree in History from McGill University and a Master’s degree in Economics from the University of Toronto.

Ian Anderson
Ian Anderson is President and CEO of Trans Mountain Corporation. He has extensive experience in the energy sector in Canada, having provided executive leadership in the areas of finance, regulatory affairs, marketing, business development, strategy development and human resources. Prior to taking on his current role, he served as President of Kinder Morgan Canada. He worked with Kinder Morgan and its Canadian predecessor companies for more than 38 years. He serves on several boards, including the Association of Oil Pipe Lines and the Business Council of British Columbia, and is a former board member of the Canadian Energy Pipeline Association. Mr. Anderson is a Certified Management Accountant and a graduate of the University of Michigan Executive Program.

Stephen Swaffield
Stephen Swaffield has significant experience in Canada’s financial and energy sectors, having held senior roles with the Royal Bank of Canada (RBC Capital Markets and RBC Dominion Securities) and Canaccord Financial Inc. He also held senior leadership positions at the executive level with Terasen, British Gas and Shell International Petroleum Company. Mr. Swaffield brings to CDEV many years of advisory and board experience, from both public and private companies, as well as with not-for-profit organizations. Mr. Swaffield holds a BA and MA in Engineering Science from Oxford University and is a Chartered Engineer (UK). He holds an MBA from INSEAD and a diploma in corporate governance from the IOD.

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