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Exchange Income Corp (EIF.TO)

EIF.TO on Toronto Stock Exchange

38.62CAD
23 Aug 2019
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Summary

Name Age Since Current Position

Gary Filmon

76 2009 Independent Chairman of the Board

Carmele Peter

53 2014 President

Michael Pyle

54 2009 Chief Executive Officer, Director

Duncan Jessiman

72 2009 Executive Vice Chairman of the Board

Darryl Bergman

2019 Chief Financial Officer

Brian Chafe

2017 CEO of Provincial Aerospace Ltd

Doron Marom

2017 CEO of Regional One, Inc

Darwin Sparrow

52 2014 Chief Operating Officer

David White

56 2018 Executive Vice President - Aviation

Adam Terwin

39 2014 Chief Corporate Development Officer

Dianne Spencer

54 2008 Corporate Secretary

Brad Bennett

61 2009 Independent Director

Gary Buckley

58 2009 Independent Director

Polly Craik

57 2018 Independent Director

Serena Kraayeveld

68 2011 Independent Director

Melissa Sonberg

58 2018 Independent Director

Donald Streuber

61 2009 Independent Director

Edward Warkentin

69 2009 Independent Director

Biographies

Name Description

Gary Filmon

Hon. Gary A. Filmon serves as an Independent Chairman of the Board of Exchange Income Corporation. Mr. Filmon is a corporate director. Mr. Filmon holds a Master’s degree in Civil Engineering from the University of Manitoba. Mr. Filmon was Premier of the Province of Manitoba from 1988 to 1999. Mr. Filmon was previously a director of Canadian Natural Resources Limited, Manitoba Telecom Services Inc., Moffat Communications Ltd., Pollard Banknote Limited, director and Chair of FWS Construction Ltd., director and vice-chair of Wellington West Capital Inc., and chair of Canada’s Security and Intelligence Review Committee. Mr. Filmon is a member of the Order of Manitoba and an Officer of the Order of Canada. Mr. Filmon was a member of the Board of the ICD and received the ICD.D designation in 2015.

Carmele Peter

Ms. Carmele Peter serves as President of Exchange Income Corp. She joined the management team of the Corporation in November, 2012 as Chief Administrative Officer. In July, 2014 she became the President of the Corporation. Prior to joining the Corporation, Ms. Peter practiced law for over 23 years at the law firm of Aikins, MacAulay & Thorvaldson LLP (now MLT Aikins LLP), where she specialized in transactional and tax work. During her legal career she represented a number of clients and was involved in many significant transactions, including the sale of Craig Media Inc., the acquisition of Allstream Inc., the sale of MTS’s yellow pages directory business, and the acquisition of the Winnipeg Jets

Michael Pyle

Mr. Michael C. Pyle serves as Chief Executive Officer, Director of Exchange Income Corporation. ogether with Mr. Jessiman, Mr. Pyle developed the initial concept of the Corporation in 2002. Mr. Pyle has held the position of CEO since August 1, 2006. Mr. Pyle holds a Bachelor of Arts degree (Economics) and a MBA (Finance) from the University of Manitoba. He served in positions of increasing seniority culminating as President of The Arctic Glacier Income Fund (and its predecessor, The Arctic Group Inc.) from 1998 to 2002. He previously worked with RoyNat Capital in Winnipeg from 1990 to 1996 and from 1997 to 1998. Mr. Pyle was employed as the Vice-President of Corporate Development for Westsun International Inc. in Winnipeg from 1996 to 1997. Mr. Pyle is currently a director of CentrePort Canada Inc. and a director of the Winnipeg Blue Bombers Football Club. Mr. Pyle devotes the majority of his time to the Corporation. Mr. Pyle is a member of the ICD and received the ICD.D designation in 2017.

Duncan Jessiman

Mr. Duncan D. Jessiman, QC, is an Executive Vice Chairman of the Board of Exchange Income Corporation. Mr. Jessiman holds a Bachelor of Commerce degree and a Law degree from the University of Manitoba and developed the concept for the Corporation with Mr. Pyle and started it in 2002. Mr. Jessiman originally served as Chair and Chief Executive Officer of the Corporation, but gave up the Chair in 2005 in accordance with good governance practices at the time. He then gave up the position of CEO on August 1, 2006 for family reasons and became Executive Vice-Chair in charge of special projects. Before starting the Corporation, Mr. Jessiman practiced law in Winnipeg in the areas of corporate, commercial and securities law. Mr. Jessiman was a member of the TSX Venture Exchange Winnipeg Local Advisory Committee; former director of Consolidated Properties Ltd., a TSX listed company; former director of Geocrude Energy Inc., a TSX listed company which was taken over by Canada North West Energy Inc.; former director of Pan Cana Industries Ltd., a TSX listed company which was taken over by Geocrude Energy Inc.; and a former director of Enerplus Energy Services Ltd., the management company for Enerplus Resources Fund. Mr. Jessiman is currently the President of two private corporations: Progressive Holdings Inc. and Vexxit Inc. Mr. Jessiman devotes a significant amount of his working time to the business of the Corporation.

Darryl Bergman

Mr. Darryl Andrew Bergman is Chief Financial Officer of the company. Mr. Bergman is a chartered professional accountant and has over 25 years of multinational finance, treasury and enterprise risk management experience in a variety of business sectors, including energy, food processing, chemical, steel, and pulp and paper. He joins Exchange Income from Northland Power Inc., where he was vice-president, corporate finance, and treasurer.

Brian Chafe

Doron Marom

Darwin Sparrow

Mr. Darwin Sparrow is Chief Operating Officer of the Company. He is responsible for the operations of the Corporation. Mr. Sparrow joined a predecessor to the Corporation in March, 2008 as Vice President and Chief Operating Officer of Manufacturing. Mr. Sparrow spent 19 years in the manufacturing industry prior to joining a predecessor to the Corporation and has a proven track record of managing companies to reach their full potential. Mr. Sparrow has extensive experience in managing multi plants with cross border operations.

David White

Mr. David White is Executive Vice President - Aviation of the Company. Mr. White was hired in July 2016 as Vice-President, Aviation, Safety and Integration and transitioned into his current role in the first quarter of 2018. Prior to joining the Corporation, Mr. White had over 30 years in the aviation industry, with the last 15 years with Transport Canada. While at Transport Canada Mr. White held various senior executive positions with regional and national responsibilities including Associate Director of Operations, Acting Director of Standards, Acting Regional Director Civil Aviation in addition to various safety management and operational roles. He has significant experience with northern and remote operations. Mr. White has a Masters of Arts in Leadership, Certifications in Aviation, Safety Management, Quality Systems and has held an Aircraft Maintenance Engineer's license for over 25 years. He has focused on safe and effective operations throughout his multifaceted career as an aviation professional.

Adam Terwin

Mr. Adam S. Terwin is Chief Corporate Development Officer of Exchange Income Corporation. He is a Chartered Professional Accountant and a Chartered Financial Analyst, joined the management team of a predecessor to the Corporation in July, 2005. Mr. Terwin served as Chief Financial Officer of the Corporation until July of 2014 when he became the Chief Corporate Development Officer of the Corporation. Prior to joining a predecessor to the Corporation, he was employed at Deloitte LLP. Mr. Terwin placed on the Canadian Institute of Chartered Accountants National Honour Roll for excellence on the Uniform Evaluation. He has a Bachelor of Commerce (Honours) from the University of Manitoba, where he received the gold medal for the highest standing at the I.H. Asper School of Business, as well as the I.H. Asper School of Business program medals for accounting and finance. Mr. Terwin is responsible for leading the Corporation’s acquisition focus, as well as strategic growth initiatives for the Corporation’s existing entities.

Dianne Spencer

Ms. Dianne Spencer serves as Corporate Secretary of Exchange Income Corporation. She joined the management team of a predecessor to the Corporation in August, 2005 as the Manager, Compliance. Ms. Spencer is largely responsible for monitoring the Canadian ownership of the Common Shares and ensuring that all filing requirements are met in relation to the Common Shares, any securities matters and all corporate filings for the Corporation and its Subsidiaries. Prior to joining the Corporation, she was employed at Aikins, MacAulay & Thorvaldson LLP as a legal assistant specializing in corporate, commercial and securities law. Ms. Spencer became the Corporate Secretary of the Corporation on July 28, 2009. Previously, Ms. Spencer was the Corporate Secretary of a predecessor to the Corporation.

Brad Bennett

Mr. Brad Bennett is an Independent Director of Exchange Income Corporation. Mr. Bennett has been the President of McIntosh Properties Ltd., a real estate and investment holding company, since 1990. Mr. Bennett has served on a number of public and private company boards and is currently a director of UBC Properties Trust and a trustee of the Fraser Institute. Past public service positions include Chair of British Columbia Hydro, Chair of MITACS, Chair of the University of British Columbia Board of Governors, Chair of Okanagan University College, Chair of Kelowna General Hospital Foundation, Chair of Rotary Centre for the Arts Building Committee in Kelowna, director of Powerex Inc., Co-Chair of the Central Okanagan Hospice Campaign and a member of the Premier’s Technology Council. Mr. Bennett received an honorary Alumni Award from the University of British Columbia in 2007, was awarded the Order of British Columbia in 2010 and received an honorary Doctorate of Laws from the University of British Columbia in 2011. Mr. Bennett was awarded the Queen’s Diamond Jubilee Medal in 2012.

Gary Buckley

Mr. Gary J. Buckley serves as an Independent Director of Exchange Income Corporation. Mr. Buckley holds a Bachelor of Commerce degree from the University of Alberta and is currently president of Wellington Paige Group Inc., a multifaceted holding company. Mr. Buckley has been involved in the hotel and hospitality industry since 1983. Since 1998, Mr. Buckley has been the co-owner and operator of the Elkhorn Resort & Conference Center in Clear Lake, Manitoba. Mr. Buckley is also the largest shareholder of Genesis Hospitality Inc., which owns various hotel properties in Alberta, Manitoba and Ontario. Mr. Buckley is also the owner of additional commercial and multi-family residential properties. Mr. Buckley is currently a director of Pavilion Global Markets, and past director of Temple Hotels Inc. (formerly Temple Real Estate Investment Trust) and of the Cancer Care Manitoba Foundation as well as other non-profit organizations.

Polly Craik

Ms. Polly Craik is Independent Director of the Company. Ms. Craik is a corporate director. Ms. Craik is a graduate of the Advanced Business Executive Program at the Massachusetts Institute of Technology which she attended from 1999 to 2004. In 2010, Ms. Craik was awarded an honorary diploma from Red River College and in 2016, received the Manitoba Chamber of Commerce, Lieutenant Governor’s award for outstanding contribution by an individual to the community. Ms. Craik owned and led the growth at Fine Line Communications Ltd., a private Canadian business for 30 years until its successful divestiture in 2015. Ms. Craik is currently a director of the Western Canada Lottery Corporation and founding director of Vexxit Inc. She is also currently the Director Emeritus of Manitoba Business Council and Board Member of Lake of the Woods Water Sustainability Foundation. She is past Chair of the Board of Manitoba Liquor & Lotteries Corporation, past Chair of the Business Council of Manitoba and past Chair of CentreVenture Development Corporation. Ms. Craik was a non-Director member of the Aerospace & Aviation Sector Advisory Committee prior to her election as a Director

Serena Kraayeveld

Ms. Serena Kraayeveld is an Independent Director of Exchange Income Corporation. Ms. Kraayeveld graduated with a Bachelor of Commerce (Honours) degree from the University of Manitoba and is a member of the Chartered Professional Accountants of Manitoba and Canada. Ms. Kraayeveld was elected an FCA by the Institute of Chartered Accountants of Manitoba in 1990. Prior to her retirement from public practice in 2008, Ms. Kraayeveld was a tax partner with PricewaterhouseCoopers LLP, providing tax and business advisory services to public and private clients in a broad range of industries. In addition, Ms. Kraayeveld served terms as the Managing Partner of the Winnipeg Office of Coopers & Lybrand, as the Partner in Charge of the Winnipeg tax practice of PricewaterhouseCoopers LLP and as a member of the Partnership Board of each of these firms. Ms. Kraayeveld is a member of the ICD and received the ICD.D designation in 2008. Other past board positions have included the boards of CAA Manitoba, Institute of Chartered Accountants of Manitoba, Canadian Tax Foundation, United Way of Winnipeg, Manitoba Theatre Centre, Ducks Unlimited Canada and YWCA of Winnipeg.

Melissa Sonberg

Ms. Melissa Sonberg is Independent Director of the Company. Ms. Sonberg is a corporate director and an Adjunct Professor and Executive-in-Residence at McGill University’s Desautel Faculty of Management where she focuses on compensation strategy, group dynamics and leadership development. Ms. Sonberg spent the early part of her career in the health care industry before joining Air Canada in 1991. Over her ten years with the airline she held leadership positions in a range of customer facing, operational and corporate functions. In 2001, Ms. Sonberg became part of the founding executive team of Aeroplan and was a core member of the management of Aeroplan as it transitioned to a separate business entity, completed an initial public offering and expanded its global business, now known as AIMIA, through multiple international acquisitions and joint ventures. During her 12 years with AIMIA, Ms. Sonberg held the positions of Senior Vice President, Human Resources & Corporate Affairs and Senior Vice President, Global Brands, Communications and External Affairs. Ms. Sonberg has a wealth of experience on corporate and advisory boards. She currently serves on the boards of Hydro One Limited, Canadian Professional Sales Association, Women in Capital Markets, Equitas – International Centre for Human Rights Education and on the advisory board of a significant family-owned corporation based in Québec. Past board experience includes MD Financial Holdings, Via Rail Canada, Rideau Recognition Solutions Inc. and the McGill University Health Centre.

Donald Streuber

Mr. Donald Streuber is an Independent Director of Exchange Income Corporation. Mr. Streuber is Executive Chairman of Bison Transport Inc. Bison is one of Canada’s largest van truckload carriers of freight and has been recognized as one of Canada’s 50 best managed companies for over 20 years. He is a Chartered Professional Accountant and is a member of the Institute of Chartered Professional Accountants of Manitoba. Prior to joining Bison in 1999, Mr. Streuber was a partner at Sill Streuber Fiske & Company, Chartered Accountants. Mr. Streuber was elected an FCA by the Institute of Chartered Accountants of Manitoba in 2012. Mr. Streuber is the past Chairman of CentrePort Canada Inc., past Chairman of the Canadian Trucking Alliance, past Chairman of the Business Council of Manitoba, past Chairman for Providence College and Seminary, a member of the Business Council of Canada and Vice Chairman for the Assiniboine Park Conservancy.

Edward Warkentin

Mr. Edward L. Warkentin is an Independent Director of Exchange Income Corporation. Mr. Warkentin is currently the Chair of the Manufacturing Sector Advisory Committee. Mr. Warkentin holds an undergraduate degree from the University of Winnipeg, a law degree from the University of Manitoba and has been a member of the Bars of Ontario and Manitoba for more than 35 years. Mr. Warkentin is the former Managing Partner of Aikins, MacAulay & Thorvaldson LLP (now MLT Aikins LLP) where he practiced in the area of corporate and commercial law. Mr. Warkentin is a former director and Chair of Youth for Christ (Winnipeg) Inc., a former director of Manitoba Mineral Resources Ltd. and a former director of Grace Hospital Board of Management. Mr. Warkentin is currently a trustee and Chair of Artis Real Estate Investment Trust, a TSX listed issuer. He is also a director or officer of several private corporations and foundations and is a member of the ICD, Manitoba Chapter

Basic Compensation