OMERS governance has been enhanced – Board Appointments

December 01, 2013
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Outreach

Communicating with Employers, Sponsors and Stakeholders on key developments at OMERS.

Good governance is critical to achieving and maintaining a high-performance pension plan. To that end we have strengthened OMERS governance in three significant ways:

  • We have introduced enhanced capacity requirements for nominees to the OMERS Administration Corporation (OAC) board to ensure it has relevant and diverse experience in the range of disciplines required to oversee a complex pension plan.
  • We have implemented term limits which balance renewal and continuity.
  • We created a 15th seat on the OAC Board for an independent director who will serve as Board chair. George Cooke was appointed to this position effective October 1, 2013.

With the help of our sponsors, five Directors have been appointed or reappointed to the OAC Board (see director biographies below). Two additional appointments will be considered and appointments made in the near future. We are pleased that our sponsors embraced the objectives of these changes and delivered a slate of nominations which will enhance the capacity of the OAC Board.

The remaining seven Board seats are scheduled for review in 2014 and 2015.

Those sponsors with a seat expiring at the end of 2014 will be contacted early in 2014 to allow as much time as possible to conduct their respective candidate recruitment and search processes.

In addition to these changes at the OAC Board, two new directors were appointed to the OMERS Sponsors Corporation (SC), and three directors were re-appointed to the SC.

Introducing the Newest Members of the OAC Board

Lloyd Komori holds several specialized board director certifications from The Directors College, Canada’s only university-accredited director education program where he is also a founding faculty member. From 2006 to 2009 Lloyd served as Chief Risk Officer of Ontario Power Generation. His board director experience includes roles involving leading finance, audit, risk and human resource committees. His professional experience also includes working in the institutional investment management industry for over 20 years.

Bill Aziz is a senior executive with previous experience on the OAC Board, and holds a degree in Honours Business Administration from Ivey School of Business at Western University. He is an experienced negotiator and builder of strategic partnerships. As a director, Bill has served on governance, nominating, investment, human resources, audit, significant transition and special committees in both Canada and the United States.

Darcie Beggs is a pension policy expert with extensive experience both as an advisor to labour organizations on pension issues and as a pension plan trustee. Darcie holds a bachelor’s degree in Commerce from the University of Saskatchewan.

Jim Phillips holds a Certified General Accountant designation. He was first appointed to the OAC Board in 2009. Jim has experience in the private, public and not-for-profit sectors in areas including governance, finance, human resources, policy development and strategic planning and has served as Chair of the OAC Audit and Governance Committees. He received his chartered director designation from The Directors College in 2012.

Sheila Vandenberk retired from full-time employment after serving as President of Ontario Secondary School Teachers’ Federation (OSSTF) District 13 and serving her last ten years as OSSTF's Provincial Treasurer. Formerly head of a high school mathematics department, Sheila received her chartered director designation from the Directors College in 2006 and was first appointed to the OMERS AC Board in 2009. Sheila has served on all OMERS committees and for the past two years she has chaired the OAC Member Services Committee.

William (Bill) Butt (updated December 19, 2013) 
Bill Butt retired as Global Head, Investment & Corporate Banking, Bank of Montreal Financial Group, after more than 25 years in the industry. In this role, Bill was responsible for all of BMO’s business with corporate and government clients worldwide encompassing equity and debt underwriting, corporate lending, merger and acquisitions advisory services, merchant banking, trade finance and global treasury management. Bill is a long-time board member at Toronto’s St. Michael’s Hospital and currently chairs its President’s Council. He was named to Canada’s Top 40 Under 40.

Laurie Hutchinson (updated December 19, 2013) 
Laurie Hutchinson is a pension actuary with 25 years of pension and board experience, including 10 years as Senior Vice-President at the Healthcare of Ontario Pension Plan (HOOPP). Laurie holds an Honors Bachelor of Science degree from Western University and is a Fellow of the Canadian Institute of Actuaries.

Incumbents Reappointed

The following board members were re-appointed by their sponsoring organizations effective January 1, 2014:

  • Paul Bailey, appointed by the retiree groups
  • Wayne McNally, appointed by the Ontario Public School Boards Association in collaboration with the Ontario Catholic School Trustees Association
  • Bruce Miller, appointed by the Police Association of Ontario