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Power Corporation of Canada (POW.TO)

POW.TO on Toronto Stock Exchange

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23 Oct 2020
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Summary

Name Age Since Current Position

Paul Desmarais

66 2020 Chairman of the Board

R. Jeffrey Orr

61 2020 President, Chief Executive Officer, Director

Andre Desmarais

63 2020 Deputy Chairman of the Board

Michel Plessis-Belair

78 2012 Vice Chairman of the Corporation

Gregory Tretiak

64 2012 Chief Financial Officer, Executive Vice President

Claude Genereux

58 2015 Executive Vice President

Olivier Desmarais

2017 Senior Vice President

Paul Desmarais

38 2017 Senior Vice President

Paul Genest

2016 Senior Vice President

Stephane Lemay

2012 Vice President, General Counsel, Secretary

Denis Le Vasseur

Vice President, Controller

Arnaud Bellens

2016 Vice President

Hugo Breton

2020 Vice President

Mei Dong

2020 Vice President

Yuhong Liu

2011 Vice President

Eoin O hOgain

2016 Vice President

Richard Pan

2019 Vice President, Head - Corporate Finance

Pierre Piche

2017 Vice President

Luc Reny

2016 Vice President

Samuel Robinson

2016 Vice President

Adam Vigna

2016 Vice President

Delia Cristea

2018 Assistant General Counsel, Assistant Secretary

Anthony Graham

63 2018 Lead Independent Director

Pierre Beaudoin

57 2005 Independent Director

Marcel Coutu

66 2011 Independent Director

Gary Doer

71 2016 Independent Director

J. David Jackson

73 2013 Independent Director

Paula Madoff

52 2020 Independent Director

Isabelle Marcoux

50 2010 Independent Director

Christian Noyer

69 2016 Independent Director

T. Timothy Ryan

74 2014 Independent Director

Siim Vanaselja

63 2020 Independent Director

Biographies

Name Description

Paul Desmarais

Mr. Paul Desmarais Jr. serves as Chairman of the Board of the Company. Mr. Desmarais is Chairman of the Corporation and of PFC, previously having served as Co-Chief Executive Officer of the Corporation from 1996 until his retirement in February 2020. He served as Executive Co-Chairman of PFC until March 2020. He joined the Corporation in 1981 and assumed the position of Vice-President the following year. Mr. Desmarais served as Vice-President of PFC from 1984 to 1986, as President and Chief Operating Officer from 1986 to 1989, as Executive Vice-Chairman from 1989 to 1990, as Executive Chairman from 1990 to 2005, as Chairman of the Executive Committee from 2006 to 2008 and as Executive Co-Chairman from 2008 until February 2020. He also served as Vice-Chairman of the Corporation from 1991 to 1996. From 1982 to 1990, he was a member of the Management Committee of Pargesa, in 1991, Executive Vice-Chairman and then Executive Chairman of the Committee; in 2003, he was appointed Co-Chief Executive Officer and in 2013 named Chairman of the Board. He has been a Director of Pargesa since 1992. He is a Director of many Power Group companies in North America, including PFC, Lifeco, Canada Life, Empower Retirement, Putnam Investments, LLC, IGM, IG Wealth Management and Mackenzie Inc. In Europe, he is Chairman of the Board of Groupe Bruxelles Lambert since April 2019. He was Vice-Chairman of Groupe Bruxelles Lambert from January 2012 until April 2019. He is a Director of LafargeHolcim Ltd and SGS SA, and was Vice-Chairman of the Board and a Director of Imerys until 2008, a Director of GDF Suez until 2014 and of Total SA until 2017. Mr. Desmarais is a member of The Business Council of Canada. He is also active on a number of philanthropic advisory councils.

R. Jeffrey Orr

Mr. R. Jeffrey Orr serves as President, Chief Executive Officer, Director of the Company. Mr. Orr was appointed President and Chief Executive Officer of the Corporation in February 2020 and is President and Chief Executive Officer of PFC, a position he has held since May 2005. From May 2001 until May 2005, he was President and Chief Executive Officer of IGM. Prior to joining IGM, he was Chairman and Chief Executive Officer of BMO Nesbitt Burns Inc. and ViceChairman, Investment Banking Group of the Bank of Montreal. Mr. Orr had been with BMO Nesbitt Burns Inc. and predecessor companies since 1981. Mr. Orr is a Director of PFC and is also a Director and Chairman of certain Power Group companies, including IGM, IG Wealth Management, Mackenzie Inc., Lifeco, Canada Life, Empower Retirement and Putnam Investments, LLC. He is also a Director of PanAgora Asset Management Inc. Mr. Orr is active in a number of community and business organizations.

Andre Desmarais

Dr. Andre Roger Desmarais Ph.D. serves as Deputy Chairman of the Board of the Company. Mr. Desmarais is Deputy Chairman of the Corporation and of PFC, previously also having served as President and Co-Chief Executive Officer of the Corporation from 1996 until his retirement in February 2020. He was also Executive Co-Chairman of PFC until March 2020. Prior to joining the Corporation in 1983, he was Special Assistant to the Minister of Justice of Canada and an institutional investment counsellor at Richardson Greenshields Securities Ltd. Mr. Desmarais is a Director of many Power Group companies in North America, including PFC, Lifeco, Canada Life, Empower Retirement, Putnam Investments, LLC, IGM, IG Wealth Management and Mackenzie Inc. He is also a Director and Vice-Chairman of Pargesa in Europe. He was a Director of Bellus Health Inc. until 2009 and of CITIC Pacific Limited in Asia until 2014. Mr. Desmarais is Honorary Chairman of the Canada China Business Council and is a member of several China-based organizations. Mr. Desmarais is active in a number of cultural, health and other not-for-profit organizations. In 2003, he was named an Officer of the Order of Canada and, in 2009, he was named an Officer of the Ordre national du Québec. He has received Honorary Doctorates from Concordia University, Université de Montréal and McGill University. Mr. Desmarais is a trustee of the Desmarais Family Residuary Trust

Michel Plessis-Belair

Mr. Michel Plessis-Belair serves as Vice Chairman of the Corporation of the Company. Mr. Plessis-Bélair has been Vice-Chairman of Power Corporation since 2008 and of Power Financial since 2012. Previously, he was Vice-Chairman and Chief Financial Officer of Power Corporation and Executive Vice-President and Chief Financial Officer of Power Financial. He is a director of Square Victoria Communications Group Inc. He was a director of Lallemand Inc. until June 2017, of Pargesa until May 2017, of Groupe Bruxelles Lambert until April 2017, and of Great-West Lifeco, Canada Life and Empower Retirement until 2016. Mr. Plessis-Bélair is a Fellow of the Québec Order of Chartered Professional Accountants. He holds a degree in Business and Accounting and a Master of Business from HEC, an MBA from Columbia University, and a Bachelor of Arts from Université de Montréal.

Gregory Tretiak

Mr. Gregory D. Tretiak serves as Chief Financial Officer, Executive Vice President of the Company. He is a director of Power Financial’s subsidiary companies Great-West Lifeco, Canada Life, IGM Financial, IG Wealth Management and Mackenzie. Mr. Tretiak joined Investors Group in 1988 and was Executive Vice-President and Chief Financial Officer of IGM Financial until 2012. In this role, he was responsible for all financial functions at IGM Financial and its subsidiaries. He holds a Bachelor of Arts in Economics and Political Science from the University of Winnipeg and is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Manitoba and a Certified Financial Planner. Throughout his career, Mr. Tretiak has been an active member in professional industry groups including the Institute of Chartered Accountants, Financial Executives International, the Certified Financial Planners, and the Institute of Internal Auditors. He has served with national organizations such as the Investment Funds Institute of Canada, the Canadian Chamber of Commerce Economic and Taxation Committee and the Canadian Institute of Chartered Accountants. Mr. Tretiak is actively involved in a number of community-based organizations.

Claude Genereux

Mr. Claude Genereux serves as Executive Vice President of the Company. Mr. Généreux has been Executive Vice-President of Power Corporation and Power Financial since 2015. He is a Director of Great-West Lifeco, Canada Life, Empower Retirement, Putnam Investments, IGM Financial, IG Wealth Management, Mackenzie and Groupe Bruxelles Lambert. Mr. Généreux is Senior Partner Emeritus of McKinsey & Company, a global management consulting firm. During his 28 years with the firm, he focused on serving leading global companies in the Financial Services, Energy and Resources sectors. He has held various leadership positions including Global Sector Leadership in energy, Office Leadership in Montréal, Global Personnel Committees for partner election and evaluation, and Global Recruiting for Advanced University Degrees candidates. Mr. Généreux helped launch McKinsey’s office in Montréal in 1991 and was also posted in its Paris, Toronto and Stockholm offices. He serves as the Vice-Chair of the Board of Governors at McGill University and is a Board member of the Jeanne Sauvé Foundation, the Loran Scholars Foundation and the Rhodes Scholarships in Canada. He is also a member of the Advisory Board for the joint E-MBA program at McGill and HEC. He has received the Queen Elizabeth II Golden Jubilee Medal for outstanding and exemplary contributions to his community. Mr. Généreux graduated from McGill University and Oxford University, where he studied as a Rhodes Scholar.

Olivier Desmarais

Mr. Olivier A. Desmarais serves as Senior Vice President of the Company. Prior to joining Power as Vice-President in May 2014, he was Director of Business Development at Square Victoria Digital Properties. From 2010 to 2013, he worked as an Associate at Putnam Investments. While completing his Law degree, Mr. Desmarais was an articling student at Heenan Blaikie LLP and also worked as an analyst at Pandion Investments. Mr. Desmarais serves as a director of Canada Life, IG Wealth Management and Mackenzie since May 2014. He is Chairman of Power Energy Corporation and a director of Lumenpulse. In November 2018, he was named Chair of the Canada China Business Council. He is also a member of the board of the Montreal General Hospital Foundation and the Canadian Institute for Advanced Research. Mr. Desmarais holds a Bachelor of Civil Law degree from the University of Ottawa and a Bachelor of Arts in Sociology and Political Science from McGill University. He has been a member of the Québec Bar since 2009.

Paul Desmarais

Mr. Paul Desmarais III serves as Senior Vice President of the Company. He acts as the Chairman and CEO of Sagard Holdings, the Executive Chairman and co-founder of Portag3 Ventures, and the Chairman and co-founder of Diagram. Within the investment portfolios of Portag3 Ventures and Sagard Holdings, he is the Chairman of Wealthsimple and Peak Achievement Athletics, and a director of Koho, Integrate AI, and IntegraMed. He also sits on the boards of Pargesa, Groupe Bruxelles Lambert and Imerys. He also served on the boards of Canada Life, IG Wealth Management and Mackenzie. Before joining Power as Vice-President in May 2014, he was Assistant Vice-President in the Risk Management Group of Great-West Lifeco beginning in 2012. Previously, he worked in supply chain management and corporate strategy at Imerys in France. He began his career in 2004, working for five years with Goldman Sachs in the United States, in the Investment Banking and Investment Strategy Groups, as well as in the Special Situations Group. In 2000, he was awarded the Duke of Edinburgh’s Award (Gold Level). Mr. Desmarais is the Founder and Honorary Chairman of Young Canadians in Finance, which provides young professionals working in the private and public financial sectors an exclusive network that enables them to assume leading roles in this field. He served as Co-Chair of the True Patriot Love 2014 Arctic Expedition to the Magnetic North Pole. He also sits on the Board of Directors of Next Canada, an organization that fast tracks the development of Canada’s most talented young innovators, turning them into the country’s outstanding future business leaders and innovators. Mr. Desmarais was also the Chair of the Kenojuak Cultural Centre and Print Shop campaign. Mr. Desmarais is the recipient of a Bachelor of Arts degree in Economics from Harvard College (graduating cum laude) and he holds a Master in Business Administration from INSEAD in France. In 2017, Mr. Desmarais was named one of Canada's Top 40 Under 40.

Paul Genest

Mr. Paul C. Genest serves as Senior Vice President of the Company. Mr. Genest has been Senior Vice-President Power Financial since September 2016 to March 2020. His background includes government, academia and business. He served in a number of portfolios as a Deputy Minister in the Ontario Government, including Intergovernmental Affairs, Francophone Affairs and also Deputy Minister responsible for the Pan Am and Parapan Am Games held in Toronto in 2015. He served in the federal government as Director of Policy in the Office of the Prime Minister of Canada. He served as Chief Executive Officer of the Council of Ontario Universities and as Assistant Vice-President of Bell Canada. He has also been an Adjunct Professor at Glendon College, York University. Mr. Genest is a Fellow at the Brookfield Institute for Innovation and Entrepreneurship at Ryerson University, an active volunteer with Pine River Institute which provides residential rehabilitation for teenagers, Vice-Chair of the Nature Conservancy of Canada - Ontario Region, is a Board member of Business for the Arts, the Canadian Chamber of Commerce and the Foundation for the National Gallery of Canada. A champion of diversity, he has been honoured for his advocacy for the rights of the LGBTQ community. He is a recipient of the Queen Elizabeth II Diamond Jubilee Medal. Mr. Genest holds a Bachelor of Arts Honours (cum laude) in English and Philosophy from the University of Guelph, a Masters in Philosophy from the University of Ottawa, and a Ph.D. in Philosophy from The Johns Hopkins University. He is a graduate of the Advanced Management Program at Harvard Business School and has completed the Rotman School of Management, Institute of Corporate Directors - Directors Education Program (ICD.D).

Stephane Lemay

Mr. Stephane Lemay serves as Vice President, General Counsel, Secretary of the Company. Mr. Lemay joined Power Corporation as Vice-President, Assistant General Counsel, and Associate Secretary in 2005 and assumed the same position at Power Financial in 2009. He is also responsible for corporate social responsibility initiatives at both companies, in addition to being the media spokesperson. Mr. Lemay began his career with the law firm Byers Casgrain, now Dentons, where he worked in commercial litigation for five years. He subsequently held the position of Policy Advisor, Economic Development, in the Office of the Prime Minister of Canada from 1997 to 1999. Mr. Lemay then returned to the private sector in Montréal, serving in a number of executive positions in legal, regulatory and public affairs with companies within the Telesystem Group. He then joined Gildan Activewear Inc., a leading sportswear manufacturer, where he was Vice-President of Public and Legal Affairs and Secretary until 2005. Mr. Lemay is active in a number of not-for-profit organizations and community initiatives. He is a member of the Board and Secretary of the Society for the Celebrations of the 375th Anniversary of Montréal, a member of the Board of the Eulalie-Durocher Foundation and a member of the Board of Dis-moi.

Denis Le Vasseur

Mr. Denis Le Vasseur serves as Vice President, Controller of the Company. Mr. Le Vasseur joined the Power group of companies in 1992 and currently serves as Vice-President and Controller of Power Corporation and of Power Financial. His responsibilities include financial reporting, budgeting, taxation and information technology. Mr. Le Vasseur began his career in 1982 with Touche Ross, a predecessor firm of Deloitte & Touche, specializing in the audit of large holding companies. He also worked on various consulting assignments in the field of mergers and acquisitions. Mr. Le Vasseur earned a Bachelor of Science in Mathematics and an MBA from McGill University, and obtained his Chartered Accountant designation in 1985. He serves on the board of directors of the On the Tip of the Toes Foundation, an organization that helps teenagers living with cancer regain their self-esteem and sense of pride through wilderness adventure therapy.

Arnaud Bellens

Mr. Arnaud Bellens serves as Vice President of the Company. Mr. Bellens has been Vice-President of Power Corporation since 2016. Prior to joining the Corporation, he was Chief Financial Officer and Vice-President of Finance at La Presse. He was involved in the transition of La Presse from a primarily print operation to a digital company, in selling non-core assets, and in creating a new company to manage and license La Presse’s tablet business. During his career, Mr. Bellens has also held various positions at Square Victoria Communications Group, as well as at Mitel Networks and at Alcatel-Lucent, both in Europe and in Canada. Mr. Bellens holds a Bachelor degree in Electrical Engineering as well as a Master in Telecommunication Engineering, both from the Université Catholique de Louvain in Belgium. He is involved each year in a number of philanthropic activities in the community.

Hugo Breton

Mr. Hugo Breton serves as Vice President of the Company. He is a leader in the finance and corporate strategy teams and focuses on value creation initiatives across the group. Prior to joining the Power group in 2015, Mr. Breton was Vice-President, Global Strategy and Corporate Development at Aimia where he was responsible for partnerships and corporate strategy. Before that, he worked at McKinsey & Company where he served various financial institutions. Mr. Breton holds a Master of Business Administration degree from INSEAD and a Bachelor degree in engineering from École Polytechnique in Montréal.

Mei Dong

Ms. Mei Dong serves as Vice President of the Company. She was Vice-President of Power Financial from January 2020 to March 2020. She is a leader in the finance and corporate strategy teams and focuses on value creation initiatives across the group. Prior to joining the Power group in 2019, Ms. Dong was Associate Partner at McKinsey & Company, providing management consulting services for global financial services companies. Prior to that, she held the roles of Actuary at Munich Reinsurance and PwC Actuarial Insurance & Management Solutions. Ms. Dong holds a Master of Business Administration degree from New York University Leonard N. Stern School of Business as well as a Bachelor of Science in Mathematics and Bachelor of Arts in Economics from Randolph-Macon Women’s College in Lynchburg, Virginia. She is a Fellow of the Casualty Actuarial Society.

Yuhong Liu

Mr. Yuhong Liu serves as Vice President of the Company. He oversees Power Corporation’s business development in Asia, where the company currently has a number of investments. Mr. Liu joined Power Corporation in 1995 and has since held various positions, most recently as Financial Analyst and Director of Asian Affairs. Prior to joining Power Corporation, Mr. Liu worked with China CITIC Group in Beijing. Mr. Liu obtained a Bachelor of Arts degree in Nanjing, China, earned an MBA from McGill University, and is a CFA charter holder. He serves as a member of the board of governors for the Jiu Ding Scholarship Program dedicated to Chinese students studying in Québec. He is also actively involved in supporting the development of cultural programs to promote local Chinese communities in Canada.

Eoin O hOgain

Mr. Eoin O hOgain serves as Vice President of the Company. He was Vice-President of Power Financial from September 2016 to March 2020. He is also President of Sagard China. Mr. Ó hÓgáin joined Power after a 15 year career at Morgan Stanley mergers and acquisitions, McKinsey strategic consulting and State Street investing, during which he lived and worked in the United States, Asia and Europe. He serves on the Boards of the Ireland-Canada Chamber of Commerce and the Canadian Irish Studies Foundation Mr. Ó hÓgáin holds a Bachelor of Business Studies and French degree with first class honors from Trinity College Dublin, where he was a Foundation Scholar. He is a CFA charter holder and has a Master of Business Administration degree with High Distinction from the Harvard Business School.

Richard Pan

Mr. Richard Pan serves as Vice President, Head - Corporate Finance of the Company. Before joining Power in 2008, Before joining Power, Mr. Pan was an Executive Director in Investment Banking with Goldman Sachs International based in London, England. In this capacity, he specialized in Energy and Private Equity and was a member of the Global Natural Resources group. He was previously a member of the U.K. Advisory group, specializing in mergers & acquisitions. Mr. Pan is a Rhodes Scholar and holds a Master of Philosophy in International Relations from Balliol College at Oxford University and a Bachelor of Arts (Honours) in Economics from the University of Western Ontario. His secondary school education was at the University of Toronto Schools. Mr. Pan is active in the community, with particular interests in education and the arts. He is the Canadian National Secretary to the Rhodes Trust, Chair of Rhodes Scholarships in Canada (RSC), and a Director of the Canadian Rhodes Scholars Foundation. He also serves on the Board of Directors of Desautels Capital Management, the Opéra de Montréal and the Centaur Theatre.

Pierre Piche

Mr. Pierre Piche serves as Vice President of the Company. He has been focusing on trends likely to impact the strategies of the Power group companies and their regulatory and public policy environment, notably in Canada, since 2010. He coordinates strategic research and dissemination activities. Previously, Mr. Piché was Vice-President, Investment Strategies, in the Private Equity group of Caisse de dépôt et placement du Québec, where he was responsible for recommending strategies related to the active management of the group’s investment portfolios. Before that, Mr. Piché was a Vice-President of SNC-Lavalin Capital, a wholly-owned subsidiary of SNC-Lavalin inc., a major Canadian engineering-construction company. He began his career in finance and investment in Germany, where he worked for Bayerische Vereinsbank AG, now UniCredit Bank AG. He is a member of the boards of CIRANO and of Finance Montréal since 2018 and of the board of FP Canada since 2019. Mr. Piché holds a Bachelor of Applied Sciences in Engineering Physics from Université Laval (Quebec City) and a Master of Arts in Philosophy, Politics and Economics from Oxford University, where he was a Rhodes Scholar. Mr. Piché is actively involved in the community, notably as President of the Board of the Foundation of the Oratoire Saint-Joseph du Mont-Royal and with other charitable and religious organizations.

Luc Reny

Mr. Luc Reny serves as Vice President of the Company. Currently, he is responsible for human resources and compensation matters as well as real estate management and various aspects of Power’s operations. He joined Power Corporation in 1989 as a financial analyst and was subsequently named Executive Assistant to the President. In 1995, he was appointed Director of Administration. He began his career in 1983 at the Caisse de dépôt et placement du Québec, where he worked as a financial analyst in the Asset Management and Equity Markets departments until 1989. He is President of Square Victoria Real Estate Inc. Over the years, he has participated in many fundraising activities for various charitable organizations. He currently serves as the Chairman of the board of the Fondation Armand-Frappier and is also a member of the boards of the Fondation Baxter & Alma Ricard and the Fondation OLO. Mr. Reny holds a Bachelor of Commerce from Université Laval and an Executive MBA from Université de Sherbrooke. He earned his Chartered Financial Analyst (CFA) designation from the CFA Institute in Virginia, United States. In February 2017, he also obtained the certification Chartered Director (C.Dir.) from The Directors College.

Samuel Robinson

Mr. Samuel Robinson is Vice President of the Company. He is based in New York and currently serves as President of Sagard Holdings and Portag3 Ventures, as well as Director of Sagard Holdings, Chairman of the Board of IntegraMed Fertility and lead independent Director of the Board of GP Strategies Corporation. Mr. Robinson joined Power after an 18 year career at Goldman Sachs, during which he lived and worked in the United States, Asia, Australia and Europe. He served in a variety of positions at Goldman Sachs, including Chief Administrative Officer and Head of strategy for the global Investment Banking Division, Chief Operating Officer of the firm’s emerging markets businesses, Asia Chief of Staff and Chief of Staff to the firm’s President. Mr. Robinson trained as a financial institutions investment banker, worked in venture capital and, for many years, was also involved in corporate strategy and investor relations at Goldman Sachs. Mr. Robinson holds a M.A. with double first class honours and a M.Phil., both from Christ Church, Oxford University. Mr. Robinson serves on the Development Board of Christ Church and on the U.S. Board of the Cambodian Childrens’ Fund.

Adam Vigna

Mr. Adam Vigna serves as Vice President of the Company. He currently serves as the Managing Partner and Chief Investment Officer of Sagard Holdings. He is a Director of Peak Achievement Athletics. Prior to his appointment, Mr. Vigna was a Managing Director at the Canada Pension Plan Investment Board (CPPIB) responsible for leading CPPIB’s Global Principal Credit Investments Group, a multi-strategy platform making direct principal credit investments, with approximately CAD$20 billion of assets under management. While at CPPIB, he was Chair of the Principal Credit Investment Committee, a member of the Private Investments Committee and also a member of the Credit Investments Committee. Prior to joining CPPIB in 2009, Mr. Vigna was a Vice-President at Goldman Sachs in the Special Situations Group in New York and Toronto. In this role, he was one of the founding members of the Canadian Special Situations Group, which he co-headed prior to his departure. Before joining the Special Situations Group, he worked in Goldman Sach’s Investment Banking Division in New York where he was a member of their Financial Institutions Group. Mr. Vigna holds a Bachelor of Commerce (Honours) degree from Queen’s University in Kingston, Ontario. Mr. Vigna is an active supporter of the United Way in Toronto and is involved each year in a number of philanthropic activities in the community.

Delia Cristea

Ms. Delia Cristea serves as Assistant General Counsel, Assistant Secretary of the Company. She is Assistant General Counsel and Assistant Secretary of the Corporation and of Power Financial since March 2018; previously Senior Legal Counsel and Assistant Secretary of the Corporation and of Power since March 2017; previously, Senior Legal Counsel of the Corporation and of Power Financial since March 2016; previously, Legal Counsel of the Corporation and of Power Financial

Anthony Graham

Mr. Anthony R. Graham serves as Lead Independent Director of the Company. Mr. Graham is Chairman and Chief Executive Officer of Sumarria Inc., an investment management company, since 1984. He was Vice-Chairman of Wittington Investments, Limited, (“Wittington Investments”), the principal holding company of the Weston-Loblaw Group, from May 2014 to May 2019. From June 2000 to May 2014, he was President of Wittington Investments. Prior thereto, he held senior positions in Canada and the United Kingdom with National Bank Financial Inc. (formerly Lévesque Beaubien Geoffrion Inc.), a Montréalbased investment dealer. Mr. Graham serves on the Boards of Bombardier Inc. since May 2019 and of Choice Properties Real Estate Investment Trust since April 2017. He also serves on the Board of Graymont Limited and Grupo Calidra, S.A de C.V. He formerly served on the Boards of PFC from May 2001 to February 2020, of George Weston Limited from November 1996 to May 2016, of Loblaw Companies Limited from February 1999 to July 2015, and of President’s Choice Bank, of which he served as Chairman from 1999 until May 2015. Mr. Graham also serves as Chairman of the Ontario Arts Foundation, Duke of Edinburgh Award Canada (Charter for Business) and the Shaw Festival Theatre Endowment Foundation. He is a Director of the Art Gallery of Ontario, the Canadian Institute for Advanced Research and Luminato. In June 2007, he was awarded an Honorary Doctorate of Laws from Brock University

Pierre Beaudoin

Mr. Pierre Beaudoin serves as Independent Director of the Company. Mr. Beaudoin is Chairman of Bombardier Inc., the world's only manufacturer of both planes and trains. Bombardier offers the broadest portfolio in the rail industry and stands as the third largest manufacturer of civil aircraft in the world. Mr. Beaudoin is also a director of Bombardier Inc. and of BRP Inc. He joined the Bombardier group in 1985 and held the positions of President and Chief Operating Officer of Bombardier Aerospace from 2001 to 2008, Executive Vice-President of Bombardier Inc. from 2004 to 2008, President and Chief Executive Officer from 2008 to 2015 and Executive Chairman of the Board from 2015 to 2017. He was also President of Bombardier Business Aircraft and President and Chief Operating Officer of Bombardier Recreational Products. Mr. Beaudoin studied Business Administration at Collège Jean-de-Brébeuf and Industrial Relations at McGill University in Montréal.

Marcel Coutu

Mr. Marcel R. Coutu serves as Independent Director of the Company. Mr. Coutu is a Company Director. He is a Director of Brookfield Asset Management Inc. and Enbridge Inc. From 2001 to January 1, 2014, he was President and Chief Executive Officer of Canadian Oil Sands Limited (an oil and gas company) and Chairman of Syncrude Canada Ltd. (a Canadian oil sands project). He was previously Senior Vice-President and Chief Financial Officer of Gulf Canada Resources Limited and, prior to that, held various positions in the areas of corporate finance, investment banking, and mining and oil and gas exploration and development. Mr. Coutu is a Director of many Power Group companies in North America, including Lifeco, Canada Life, Empower Retirement, Putnam Investments, LLC, IGM, IG Wealth Management and Mackenzie Inc. Mr. Coutu serves as a Director of the Calgary Exhibition and Stampede Board. He has also held board positions with Gulf Indonesia Resources Limited, TransCanada Power Limited Partnership and the Board of Governors of the Canadian Association of Petroleum Producers. He was a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta until 2014.

Gary Doer

Mr. Gary Albert Doer serves as Independent Director of the Company. Mr. Doer is a Senior Business Advisor to the law firm Dentons Canada LLP since August 2016. From October 2009 to January 2016, he served as Canada’s Ambassador to the United States. He was previously the Premier of Manitoba from 1999 to 2009 and served in a number of roles in the Legislative Assembly of Manitoba from 1986 to 2009. In 2005, as Premier, Mr. Doer was named by Business Week magazine as one of the top 20 international leaders on climate change. In 2017, Mr. Doer joined the Trilateral Commission as a member of the North American Group. Mr. Doer is a Director of several Power Group companies in North America, including PFC, Lifeco, Canada Life, Empower Retirement, Putnam Investments, LLC, IGM, IG Wealth Management and Mackenzie Inc. Mr. Doer is also a Director of Air Canada since May 2018. Mr. Doer was a Director of Barrick Gold Corporation from 2016 to 2018. Mr. Doer is a volunteer Co-Chair of the Wilson Centre’s Canada Institute, a non-partisan public policy forum focused on Canada-U.S. relations. In 2010, he became a Member of the Order of Manitoba and, in 2011, he received a distinguished diplomatic service award from the World Affairs Council.

J. David Jackson

Mr. J. David A. Jackson serves as Independent Director of the Company. Mr. Jackson retired as a Partner of the law firm Blake, Cassels & Graydon LLP (“Blakes”) in 2012, and currently serves as Senior Counsel to the firm, providing advice primarily in the areas of mergers and acquisitions and corporate governance. He was the Chairman of Blakes from 1995 to 2001. He was recognized throughout his career as a leading practitioner in the areas of mergers and acquisitions, corporate finance and corporate governance by numerous independent assessment organizations. Mr. Jackson is also a Director of several Power Group companies in North America, including Lifeco and Canada Life. He served on the Boards of PFC from May 2013 to February 2020 and of IG Wealth Management from 1991 to 2001. Mr. Jackson has also served as a Director of a number of public and private corporations. He was a Director and the Vice-Chairman of the Board of Sunnybrook Health Sciences Centre until June 2011. He holds a Bachelor of Commerce degree from the University of Windsor and a Bachelor of Laws (LL.B.) from Osgoode Hall Law School, and was called to the Bar of Ontario in 1974.

Paula Madoff

Ms. Paula B. Madoff serves as Independent Director of the Company. Ms. Madoff is a Company Director. She has served as an Advisory Director to Goldman Sachs, a global investment banking, securities and investment management firm, since August 2017. She has spent 24 years at Goldman Sachs, where she most recently was a Partner and Head of Sales and Distribution for Interest Rate Products and Mortgages from 2006 until her retirement in 2017. Ms. Madoff also held several additional leadership positions at Goldman Sachs including Co-Chair of the Retirement Committee overseeing 401k and pension plan assets, Chief Executive Officer of Goldman Sachs Mitsui Marine Derivatives Products, L.P., and was a member of its Securities Division Operating Committee and Firmwide New Activity Committee. She has 30 years of experience in investing, risk management and capital markets activities. Ms. Madoff is a Director of several Power Group companies in North America, including Lifeco, Canada Life, Empower Retirement and Putnam Investments, LLC. She also serves as a director of KKR Real Estate Finance Trust Inc., Tradeweb Markets Inc. and ICE Benchmark Administration, where she is Chair of the ICE LIBOR Oversight Committee. Ms. Madoff is a 2018 David Rockefeller Fellow, a member of the Harvard Business School Alumni Board and the Harvard Kennedy School Woman and Public Policy Women’s Leadership Board, a director of Hudson River Park Friends and an advisory board member of the NYU Hospital Child Study Center. She received a Masters in Business Administration from Harvard Business School and a Bachelor of Arts degree in Economics from Lafayette College.

Isabelle Marcoux

Ms. Isabelle Marcoux serves as Independent Director of the Company. Ms. Isabelle Marcoux is Chair of the Board of Transcontinental Inc. since 2012, a leader in flexible packaging in North America and Canada’s largest printer. The Corporation is also a Canadian leader in its specialty media segments. Ms. Marcoux was Vice Chair of the Board from 2007 to 2012 and Vice President, Corporate Development from 2004 to 2012. Between 1998 and 2004, Ms. Marcoux held successive roles as Director, Legal Affairs and Assistant Corporate Secretary, and Director, Mergers and Acquisitions. Before joining Transcontinental Inc., she was a lawyer at McCarthy Tétrault LLP. Ms. Marcoux is a member of the board of Rogers Communications Inc. She was also a member of the board of George Weston Limited for 12 years, until the spring of 2019. In addition, she is a member of the board of The Montreal Children's Hospital Foundation and the Advisory Board of McGill University’s Faculty of Law. Actively engaged in the community and in non-profit organizations, Isabelle Marcoux co-chaired the Centraide of Greater Montreal 2016 campaign and is Chair of the Major Donors’ Circle since 2018. She has also been involved in several fundraising campaigns, notably for the Montreal Museum of Fine Arts, the Montreal Heart Institute, the Tel-Jeunes Foundation, the Young Musicians of the World Foundation and the Foundation Montreal inc. In 2016, Ms. Marcoux was awarded the medal of the National Assembly of Quebec and, in 2017, she became the first Canadian to win the Visionary Award for Strategic Leadership from the global organization Women Corporate Directors Foundation. Also in 2017, she was inducted into the Women's Executive Network (WXN) Hall of Fame, after being named one of Canada’s 100 most powerful women in 2010, 2012 and 2016. Ms. Marcoux holds a Bachelor’s degree in Political Science and Economics, and a Bachelor’s degree in Civil Law, both from McGill University. She has been a member of the Québec Bar since 1995.

Christian Noyer

Mr. Christian Noyer serves as Independent Director of the Company. Mr. Noyer is a Company Director. Previously, he served as the Governor of the Banque de France (the central bank of France, which is linked to the European Central Bank) from November 2003 to October 2015. From 1998 to 2002, he was Vice-President of the European Central Bank in Frankfurt. After being appointed to the Treasury in the Ministry of the Economy and Finance of France in 1976, Mr. Noyer held a number of positions before serving as Director of the Treasury from 1993 to 1995, Chief of Staff of the Minister of Economic Affairs and Finance from 1995 to 1997, and Director at the Ministry for Economic Affairs, Finance and Industry from 1997 to 1998. Mr. Noyer served as a member of the Governing Council and the General Council of the European Central Bank from 1998 to 2015, as a member of the board of the Bank for International Settlements from 2003 to 2015 and as its Chairman from 2010 to 2015. He was also alternate Governor at the International Monetary Fund from 1993 to 1995 and from 2003 to 2015 and a member of the Financial Stability Board from 2008 to 2015. At various times from 1982 to 1995, he also served as a member of the boards of many partially state-owned companies as a representative of the French government, including Suez S.A., Société Générale S.A., Le Crédit Lyonnais S.A., Le Groupe des Assurances Nationales, Dassault Aviation S.A., Pechiney S.A., Air France and Électricité de France S.A. Since January 2018, he acts as a director of the NSIA Group in Africa and serves on the Board of Directors of Setl, a company dedicated to creating blockchain-based solutions for financial markets, asset management and payments. Since November 2018, he is a Non-Executive Director of Lloyd’s Council and independent Non-Executive Director of Lloyd’s Brussels board. Since April 2019, the Board of Directors of BNP Paribas has appointed Mr. Noyer as censor

T. Timothy Ryan

Mr. T. Timothy Ryan Jr. serves as Independent Director of the Company. Mr. Ryan is a Company Director. Until October 2014, he was Managing Director, Global Head of Regulatory Strategy and Policy of JPMorgan Chase & Co. (“J.P. Morgan”), a global financial services firm, a position he had held since February 2013. From 2008 to 2013, he was President and Chief Executive Officer of the Securities Industry and Financial Markets Association (“SIFMA”), a trade association representing 680 global financial market participants. Prior to joining SIFMA, he was Vice-Chairman, Financial Institutions and Governments, at J.P. Morgan, where he was a member of the firm’s senior leadership. Prior to joining J.P. Morgan in 1993, Mr. Ryan was the Director of the Office of Thrift Supervision, U.S. Department of the Treasury. Mr. Ryan is a Director of many Power Group companies in North America, including PFC, Lifeco, Empower Retirement, Canada Life and Putnam Investments, LLC, having previously served as a Director of the Corporation and of PFC from May 2011 to May 2013 and of Lifeco from May 2010 to May 2013. Mr. Ryan is Chairman of the Board of Santander Holdings U.S.A., Inc., Santander Bank, N.A. and Banco Santander International. He has served as a director of Markit Group Limited from April 2013 to October 2014 and of Lloyds Banking Group from March 2009 to April 2013. He was a private sector member of the Global Markets Advisory Committee for the U.S. National Intelligence Council from 2007 to 2011.

Siim Vanaselja

Mr. Siim A. Vanaselja CPA serves as Independent Director of the Company. Mr. Vanaselja is a Company Director. He served as the Executive Vice-President and Chief Financial Officer of BCE Inc. and Bell Canada, from 2001 to 2015. Prior to joining BCE Inc., he was a Partner with KPMG Canada in Toronto. Mr. Vanaselja is a Director of several Power Group companies in North America, including PFC, Lifeco and Canada Life. He is also a Director and Chair of the Board of TC Energy Corporation and a trustee of RioCan Real Estate Investment Trust. He previously served as a Director and Chair of the Audit Committee of Maple Leaf Sports & Entertainment Ltd. He also previously served on the Finance Minister’s Federal Advisory Committee on Financing, on Moody’s Council of Chief Financial Officers, on the Corporate Executive Board’s Working Council for Chief Financial Officers and on the Conference Board of Canada’s National Council of Financial Executives. Mr. Vanaselja is a Fellow of the Chartered Professional Accountants of Ontario and holds an Honours Bachelor of Business Administration degree from the Schulich School of Business.