Alberta Investment Management Corporation (AIMCo) has appointed Ms. Sarah Raiss and Ms. Sharon Sallows to its Board of Directors, effective October 21, 2017. Also confirmed are the re-appointments of Mr. Richard Bird, Mr. Ross Grieve, Mr. Robert “Jay” Vivian, and Mr. Tom Woods, each for an additional term of three years, effective July 1, 2017. The announcement follows the signing of the Order in Council by the Lieutenant Governor of Alberta on June 13, 2017.
“On behalf of my fellow directors, I welcome the appointments of Ms. Raiss and Ms. Sallows, each of whom bring exceptional qualifications and experience to AIMCo’s Board of Directors,” states AIMCo Chair, Mac Van Wielingen. “I also commend the Province’s decision to designate Mr. Richard Bird as AIMCo’s next Board Chair. AIMCo’s success is as much a product of strong governance, as it is prudent investment decision-making. The experience and commitment that Richard offers will ensure the leadership and oversight necessary to support our commitment to excellence and to becoming world class for the benefit of all Alberta stakeholders.”
New Appointments (Effective October 21, 2017)
Sarah Raiss retired in August, 2011 as Executive Vice-President of Corporate Services from TransCanada Corporation. She brings over 35 years of experience encompassing various board positions and executive and management positions in engineering, operations, strategy, merger & acquisition integration, governance, human resources, information technology, and marketing. Ms. Raiss is currently a member of the Board of Loblaw Companies Ltd. (Governance and Pension Committee), Vermillion Energy Inc. (Chair of Governance & HR Committee, and member of HSE Committee), Ritchie Bros (Chair of Compensation Committee), Commercial Metals Co. (Chair of Compensation Committee, and member of Nominating & Corporate Governance). She is a former member of the Canadian Oil Sands Ltd. Board (Chair of Corporate Governance & Compensation Committee, and member of Audit Committee). Ms. Raiss has a B.Sc. in Applied Mathematics and an MBA, both from the University of Michigan.
Sharon Sallows is currently a member of the Board of Trustees of RioCan REIT (former Chair of the Investment Committee, Chair of the Human Resources and Compensation Committees, and a member of the Audit Committee), a member of the Board of Trustees of Chartwell Retirement Communities REIT (member of the Investment, and Nominating, Compensation and Governance Committees), and a former member of the Board of Directors of the Ontario Teachers’ Pension Plan (former Chair of HRCC and Governance Committees). Until 2009, Ms. Sallows was a principal of Ryegate Capital Corporation which engaged in merchant banking as well as the provision of financial and strategic advisory services to institutional and corporate clients. Ms. Sallows is a former Executive Vice President, Finance of MICC Properties Inc. and previously held various positions at the Bank of Montreal, including Senior Vice President, Real Estate, Corporate Banking. Ms. Sallows received a B.A. from Carleton University, a M.Sc. from the London School of Economics, a Ph.D. from The Wharton School, University of Pennsylvania and also holds the ICD.D designation.
Re-Appointments (Effective July 1, 2017)
Chair Designation (Effective October 21, 2017)
J. Richard Bird retired from Enbridge Inc. in early 2015, having served as Executive Vice President, Chief Financial Officer and Corporate Development, and various other roles including Executive Vice President Liquids Pipelines, Senior Vice President Corporate Planning and Development, and Vice President and Treasurer. Mr. Bird serves on the Board of Directors or Trustees of Enbridge Energy Partners L.P., Enbridge Pipelines Inc., Enbridge Income Fund Holdings Inc. and Bird Construction Company Inc. He is also a member of the Investment Committee of the University of Calgary Board of Governors. Mr. Bird was named Canada’s CFO of the Year for 2010. He holds a B.A. from the University of Manitoba, MBA and PhD from the University of Toronto, and has completed the Advanced Management Program at Harvard Business School.
Re-Appointments (Effective July 1, 2017)
Ross A. Grieve is the Board Vice Chair of PCL Employee Holdings Ltd. and PCL Construction Holdings Ltd., the senior governing entities of the PCL family of companies. He served as President and Chief Executive Officer of PCL from 1997 to October 31, 2009, and as chair from November 1, 2009 to 2016. Recent awards include 2007 Junior Achievement of Northern Alberta and Northwest Territories Business Hall of Fame Inductee and the 2009 Canada’s Outstanding CEO of the Year™ sponsored by the National Post, Deloitte and the Caldwell Partners. Ross is Board Chair for Inn at the Forks Hotel in Winnipeg, Manitoba, and is on the Board of Maggnum Ventures Inc., Junior Achievement of Northern Alberta and Northwest Territories, and Melcor Developments Ltd. He is an Advisor Board Member for KingSett Capital Income Fund. Ross earned a B.Sc. in Civil Engineering from the University of Manitoba in 1969.
Robert L. “Jay” Vivian is the former Managing Director of the $100 billion IBM Retirement Funds system. Mr. Vivian is on the Board of Directors and Investment Committee of ICMA-RC, and is the founding Chair of the Investment Committee, a member of the Board and the Executive Committee, and Corporate Secretary, of the Committee on Investment of Employee Benefit Assets, the $2 trillion trade group of U.S. corporate retirement funds. He is also on the Investment & Pension Subcommittee for the charity United Way Worldwide, and is a member and Governance Fellow of the National Association of Corporate Directors. He holds a B.A. in Mathematics from Bowdoin College, MBA from Harvard Business School, and CFA® Charter from the CFA Institute.
Tom Woods spent his entire career with CIBC and Wood Gundy, the predecessor firm of CIBC World Markets. He started in Investment Banking, advising companies raising financing in the equity and debt capital markets as well as mergers and acquisitions, and later was Head of Canadian Corporate Banking, Chief Financial Officer, Chief Risk Officer, and retired in 2014 as Vice Chairman. Mr. Woods also serves on the boards of Bank of America Corporation; the CIBC Children’s Foundation; the Board of Advisors of the Department of Mechanical and Industrial Engineering, University of Toronto; Jarislowsky Fraser Limited; and St. Joseph’s Health Centre. Mr. Woods has a B.A. Sc. in Industrial Engineering from University of Toronto, and MBA from Harvard Business School.