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Ken Hugessen

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Poonam Puri

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Top Stories

Weathering the storm

Insider: Nick Wildgoose
October 6th, 2017

Who Nick Wildgoose, global supply chain product leader, Zurich Insurance Group; chairman of the Supply Chain Risk Leadership Council; former non-executive director of the Chartered Institute of Purchasing and Supply. Involvement Wildgoose, based in London, consults with companies globally on … Continue reading

Beating back trouble

Special Report on Risk: Social media, business complexity and widening stakeholder interests are changing the speed, scale and scope of crisis management. Is your board keeping up?
By Jim Middlemiss
October 5th, 2017

As crisis moments go, the announcement by Home Capital Group Inc. (TSX:HCG) last Feb. 10 that it had received an enforcement notice from the Ontario Securities Commission calling out its 2014 and 2015 continuous disclosure practices couldn’t have seemed much … Continue reading

Engaging with investors on ESG issues

Boards that proactively implement effective practices on environmental, social and governance issues have much to gain from engagement with shareholders. Those that don’t risk being held to account—by their investors and the marketplace
By Beverly Behan
October 5th, 2017

Investor-board engagement is a growing trend, with many of the world’s largest asset managers, including BlackRock, Vanguard and State Street, expanding their stewardship teams to engage more frequently with both management and boards of their investee companies. Many directors either … Continue reading

Artificial intelligence gets real

AI’s potential to transform business and society is indisputable. But even as the money pours in and the stakes rise, many executives and directors are still asking: what does it mean for me? Buckle up, as we break down fact from fantasy and offer five guiding principles for AI adoption
By Jonathan Woods
October 5th, 2017

When Jordan Jacobs approached former TD Bank Group CEO Ed Clark in late 2016 with the idea to fundraise for a world-leading artificial intelligence research facility, he found a willing and motivated partner. “I sent an e-mail to Ed at … Continue reading

New battle lines over a pipeline

The NDP’s election triumph in B.C. was a surprise; its subsequent call for the cancellation of the Trans Mountain pipeline was not. The shifting calculus has big implications for both the project and future federal and interprovincial relations
By Paul Brent
October 4th, 2017

In early 2009, former U.S. President Barack Obama famously quipped, “Elections have consequences,” a not-so-subtle insinuation that his team had all the advantages over his opposition thanks to his party’s landslide election victory. Elections, it turns out, have consequences on … Continue reading

REITs get a new route to market

Introducing the capital pool company trust, a niche vehicle with potentially big appeal
By Ken Mark
October 4th, 2017

Private real estate firms with a goal of obtaining a public listing as a real estate investment trust (REIT) now have a new path to market. Ironically, this path comes courtesy of one of the TSX Venture Exchange’s oldest vehicles, … Continue reading

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Ticker

Stakes raised on multiple voting-class structures

Measures taken by the FTSE Russell and S&P Dow Jones indexes to restrict access to new listings are expected to spark further investor-founder-market tensions
By Cooper Langford
October 5th, 2017

It’s usually company news that moves the markets. But this summer, several international markets made news designed to move companies—specifically, when it comes to their embrace of multiple voting-class share structures. Now more news, and moves, are likely to follow. … Continue reading

New battle lines over a pipeline

The NDP’s election triumph in B.C. was a surprise; its subsequent call for the cancellation of the Trans Mountain pipeline was not. The shifting calculus has big implications for both the project and future federal and interprovincial relations
By Paul Brent
October 4th, 2017

In early 2009, former U.S. President Barack Obama famously quipped, “Elections have consequences,” a not-so-subtle insinuation that his team had all the advantages over his opposition thanks to his party’s landslide election victory. Elections, it turns out, have consequences on … Continue reading

Setting the stage for a new NAFTA

Talks between Canada, the United States and Mexico to renegotiate the North American Free Trade Agreement begin in August. Donald Trump wants a big “win.” Can he actually get it? And what does it mean for Canada?
By Paul Brent
August 3rd, 2017

More than two decades have passed since the North American Free Trade Agreement redrew the continent’s trade map. It is safe to say that the renegotiation of NAFTA demanded by U.S. President Donald Trump that begins this August will be … Continue reading

Cloudy with a chance of greater gloom

As luncheon talks go, it was anything but light. But for speaker Dambisa Moyo, that was the point: when the global economy is fraught with risk and intractable uncertainty, the last thing anyone can afford is complacency
By Listed Staff
August 3rd, 2017

As a director on the boards of Barrick Gold Corp. (TSX:ABX), Barclays Bank, Chevron and Seagate Technologies, economist Dambisa Moyo knows firsthand the things that are currently weighing on the minds of company directors and CEOs. Foremost among them? Global … Continue reading

IPO activity getting real in 2017—but will it last?

Optimism builds after a healthy array of initial public offerings from firms in tech, bioscience, energy and retail
By Listed Staff
May 17th, 2017

When you’re coming off the worst year in the last 19, it’s hard not to show some improvement. But will 2017 actually do one better and go down as a bumper year for initial public offerings in the Canadian markets? … Continue reading

Majority voting plans spark a plurality of opinions

The federal government is now well down the road toward amending the Canada Business Corporations Act to enshrine majority voting into law. But the plan has its critics, and they’re still determined to be heard
By Jim Middlemiss
May 17th, 2017

While Canada lags the world when it comes to majority voting laws for directors, that gap appears to be on the brink of major change. Everyone from the TSX, which recently issued new guidance on its majority voting policy, to … Continue reading

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Views

Disrupt or be disrupted

When no industry is immune to disruption, that reality must become the pervasive theme for thinking about strategy in every enterprise. Either you seize the opportunity or fall victim to the risk
By John Caldwell
October 5th, 2017

In a recent interview, Dr. Dieter Zetsche, the managing director of Daimler AG, said his company’s competitors are no longer other car companies but Tesla, Google, Apple and Amazon. He went on to say that software would disrupt most traditional … Continue reading

The board’s No. 1 job: CEO succession

It shouldn’t happen, but too often it does—directors are caught flat-footed when they need to make a CEO change. Avert the problem with the right CEO succession planning process
By Richard Leblanc
October 4th, 2017

A board’s No. 1 job is to hire and fire the CEO. Everything else is secondary. If a board gets CEO succession right, the company will prosper. If the board hires the wrong CEO, the company and the board will … Continue reading

Foreign exchange: the director pay dilemma

The need for international directors has never been greater. But to attract the best candidates—and keep the entire board happy when you do—director compensation needs to effectively address foreign exchange concerns
By Ken Hugessen
October 4th, 2017

As Canadian corporations look to diversify their boards, the need to attract international directors—most commonly from the U.S.—increases. Likewise, companies expanding operations south of the border have a growing need to attract and retain U.S. directors. Both circumstances raise the … Continue reading

Legal privilege: are you protected?

Companies need to put in place robust best practices to protect the secrecy of their solicitor-client communications. Here we look at two of the most common areas where the limits of privilege are tested and where companies can be unwittingly exposed—negotiating deals and boardroom decision-making
By Poonam Puri
October 4th, 2017

In the course of negotiating a deal for the sale of a division of your business, the buyer’s external legal counsel prepares a memo for its senior management team on the tax elements of the transaction. As part of the … Continue reading

Maximizing your return on investor roadshows

Taking a CEO or CFO on the road is a big investment in time and money. Here are some tried and tested strategies to help companies make the most of it
By Chaya Cooperberg
October 4th, 2017

As sure as a summer tan fading, fall ushers in the season of investor conferences and non-deal marketing roadshows. Nailing down dates for the C-suite to meet shareholders and potential investors is a strategic exercise. Studies have estimated the all-in … Continue reading

Financing the recreational marijuana industry

Early retail investor euphoria is giving way to a broader set of capital sources as companies emerge in this new Canadian market. The next year will reveal a lot about the future of funding for these businesses
By Robert Olsen
August 3rd, 2017

“ Responsibility is a heavy responsibility!” —Cheech Marin, “Cheech and Chong’s Next Movie” (1980) “ Our intent is to legalize, regulate and restrict. There needs to be reasonable restrictions on making sure that we keep it away from kids…. We … Continue reading

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Features

You gotta own it

Why culture, not compliance, is the key to making diversity stick—and to helping companies realize its full potential
By Robert Thompson
May 30th, 2016

Nancy Hopkins has witnessed shifts in a company’s culture firsthand. A lawyer at McDougall Gauley in Saskatoon, Hopkins was a female pioneer almost a quarter-century ago when she took a posting to the board of directors of uranium miner Cameco … Continue reading

Something new under the sun

These are boom times in solar power. But deals are moving so quickly, some of the world’s top manufacturers are getting crushed. Not Canadian Solar. What’s keeping it above the fray—and out of the headlines?
By John Greenwood
May 30th, 2016

The sprawling, low-rise industrial building in a business park on the outskirts of Guelph, Ont., about an hour’s drive west of Toronto, is pretty much indistinguishable from its neighbours, except for the higher flow of cars and trucks moving in … Continue reading

The end of coal?

Face it. Even putting a question mark on that headline is just a technicality. As long as the world needs steel, there will be a cyclical market for metallurgical coal. But when it comes to the business of mining, moving and burning coal for energy, its demise is no longer a matter of if, but when
By John Greenwood
March 4th, 2016

It had been a brutal quarter for Teck Resources Ltd. (TSX:TCK.B) and Don Lindsay, the chief executive, speaking on a scheduled earnings call with analysts in late October was doing his best to put a bright face on things. Although … Continue reading

Five ways to someday

Even as the mining industry languors, change is afoot. And when the next rally is in high gear, it’s a sure bet some companies, practices and even conventional mining logic will have changed. We’ll still need a commodities comeback to make it happen, but it won’t be a carbon copy of the last boom. Here’s our look at five areas of fresh thinking that will define the next cycle
By Jim Middlemiss
March 4th, 2016

Michael Johnston says one thing he has learned in his 20-plus years of mining is that “you can’t manufacture grade. The ore body is what it is. Generally, it is something you have very little control over.” But what mining … Continue reading

An uneasy duty

It’s been 12 years since the landmark ruling that established the Crown’s “duty to consult” with aboriginal groups. Most mining and resource projects navigate this process, but it’s hardly routine. More than growing pains, industry says governments aren’t doing their job
By Kerry Banks
March 4th, 2016

In November 2015, closing arguments were heard in a lawsuit that may have important consequences for the Canadian mining industry. Northern Superior Resources Inc. (TSX-V:SUP), a Sudbury, Ont.-based junior exploration outfit, is seeking $25 million in compensation from the Ontario … Continue reading

M&A 2015: Canada shops the world

It’s been a banner year in Canadian M&A, especially for Canadian companies and pension funds buying abroad. That, plus a hot IPO market and strong private equity showing, have made up for some lacklustre action at home
By Jim Middlemiss
December 14th, 2015

The 2015 Canadian mergers and acquisitions market will be remembered as a year when domestic organizations went on an international buying spree, despite a dollar that was less than robust. Everyone from retailers to banks and real estate firms to … Continue reading

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The Director's Chair

Ani Hotoyan-Joly: The making, and makeup, of a director

In The Director’s Chair with David W. Anderson: Up front about her passions for learning, for service and for paying the benefits of her opportunities forward, Ani Hotoyan-Joly shines a clear light on the path she’s taken to a directorship career
August 3rd, 2017

It’s often said that the benefits of a diverse board show up in the quality of its decision-making and in the range of opinions expressed in coming to consensus on different issues. What that looks and sounds like at the … Continue reading

Warren Holmes: Share success, shoulder the blame

In The Director’s Chair with David W. Anderson: After nearly a decade as chair of Hudbay Minerals and a career in Canadian mining, Warren Holmes has learned a few things about leadership and creating a culture that puts company performance ahead of personal ego
May 17th, 2017

It takes all kinds of skill sets and personalities to make the business world go around. But when Warren Holmes talks about lessons learned and his accumulated wherewithal as an executive, a board chair and a corporate director, it’s clearly … Continue reading

Daniella Dimitrov: Fresh eyes on old problems

In The Director’s Chair with David W. Anderson: When you’ve worn as many different hats as mining director and corporate adviser Daniella Dimitrov, you always see the big picture
March 2nd, 2017

Daniella Dimitrov’s mining résumé—as a director, board chair, CEO, CFO and COO at an array of small- and mid-cap companies—would qualify as an impressive life’s work for many in the industry. Yet in Dimitrov’s case, this is actually her third … Continue reading

Charles Curran: Bright ideas, maximum leverage

In The Director’s Chair with David W. Anderson: The common thread in director and investor Charles Curran’s long list of career successes? Always finding ways to ensure money, people, boards and organizations work better
December 15th, 2016

Australia’s Charles Curran began with the essentials—an early background in law, accounting and stockbroking. Then he started making things happen. First tabbed to help lead the reform of his country’s capital markets system, he’s since chaired many company boards, including … Continue reading

Jean-René Halde: An open playbook

In The Director’s Chair with David W. Anderson: Sports teams thrive on trust among teammates. Successful boards and board-chair-CEO relationships work the same way, says veteran CEO and director Jean-René Halde
October 9th, 2016

Jean-René Halde is the first one to say he doesn’t have all the answers. But it’s clear from his varied and illustrious career as a CEO, board chair and director, and from his remarks in the following conversation with governance … Continue reading

Shann Turnbull: How good is “good” governance?

In The Director’s Chair with David W. Anderson: Don’t let the friendly appearance fool you. Shann Turnbull’s best ideas have the power to bust up a boardroom
May 30th, 2016

Most doctorates awarded to business leaders with lengthy careers are of the honourary kind. Not Australia’s Shann Turnbull’s. His 2000 PhD thesis proposed a science of governance inspired, in part, by communication in nature. A prolific thinker and reformer, with … Continue reading

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Handbook

Engaging with investors on ESG issues

Boards that proactively implement effective practices on environmental, social and governance issues have much to gain from engagement with shareholders. Those that don’t risk being held to account—by their investors and the marketplace
By Beverly Behan
October 5th, 2017

Investor-board engagement is a growing trend, with many of the world’s largest asset managers, including BlackRock, Vanguard and State Street, expanding their stewardship teams to engage more frequently with both management and boards of their investee companies. Many directors either … Continue reading

Miners shed secrecy, team up on cybersecurity

Beset by cyberattacks, several major Canadian mining companies have taken a lead role in the creation of an open, industry-wide alliance that’s forging a new front in the battle to protect sensitive data and digital assets
By Kerry Banks
October 4th, 2017

In April 2016, executives at Vancouver’s Goldcorp Inc. (TSX:G) were shocked to learn that hackers had penetrated the company’s computer network and stolen a load of data, including bank accounts, wire transfers, payroll records, contracts, budget documents and treasury reports. … Continue reading

Higher interest rates: the latest contagion?

Canada and the U.S. see their first serious whiffs of economic growth in ages and what happens? Our central banks race to put on the brakes. As long as inflation’s still negligible, why not let the good times roll?
By Ian McGugan
October 4th, 2017

Nobody ever claimed it was easy to be a central banker, but at least your guiding principles used to be clear enough. If you spotted signs that inflation was growing uncomfortably strong, you would hike interest rates to slow the … Continue reading

REITs get a new route to market

Introducing the capital pool company trust, a niche vehicle with potentially big appeal
By Ken Mark
October 4th, 2017

Private real estate firms with a goal of obtaining a public listing as a real estate investment trust (REIT) now have a new path to market. Ironically, this path comes courtesy of one of the TSX Venture Exchange’s oldest vehicles, … Continue reading

Is it time for a hard look at “softer” pay targets?

With so much company value tied up in reputation, social licence, integrity and sustainability, there’s growing support for basing a greater share of executive pay on meeting “non-financial” metrics that reflect these goals
By Mai Nguyen
August 3rd, 2017

Back in April, you may have seen a video of an older, Asian man being forcibly dragged by police off an overbooked United Airlines flight. This viral clip not only sparked horror, outrage and vows to never ever fly with … Continue reading

One-dimensional? Us?

Two University of Calgary researchers have crunched the numbers and found Canada’s economy to be a model of healthy diversification. But not everyone is convinced
By Ian McGugan
August 3rd, 2017

For years, politicians and policy wonks have urged Ottawa to take action to ensure that Canadians become more than hewers of wood and drawers of water. But maybe it’s time to think again. Trevor Tombe and Robert Mansell of the … Continue reading

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Economy

One-dimensional? Us?

Two University of Calgary researchers have crunched the numbers and found Canada’s economy to be a model of healthy diversification. But not everyone is convinced
By Ian McGugan
August 3rd, 2017

For years, politicians and policy wonks have urged Ottawa to take action to ensure that Canadians become more than hewers of wood and drawers of water. But maybe it’s time to think again. Trevor Tombe and Robert Mansell of the … Continue reading

Half full? Dare we say three-quarters?

Sure, there are still reasons for pessimism, but what do we make of all the signs that the global economy is picking up strength? Go with it
By Ian McGugan
May 19th, 2017

Look! Over there—could that be sunrise on the horizon? It certainly seems so. After years of struggling through the long shadows cast by the financial crisis, the world economy is brightening. Maybe, just maybe, managers should stop worrying about the … Continue reading

There’s value in them thar hills!

Mining used to be simple. Find a deposit, build a mine, get it out of the ground and sell it. Today the hardest thing to find is a low-risk growth strategy that delivers investors and results
By Ian McGugan
March 2nd, 2017

What a difference a year makes. At the start of 2016, the mining industry was reeling. Metals prices were in freefall and investors had long since fled from the sector. Then everything changed. As new signs of global growth emerged, … Continue reading

Poloz: selling life in the slow lane

It’s in business leaders’ DNA to expect big returns. So what should we make of the Bank of Canada’s rush to embrace and preach the doctrine of slow growth?
By Ian McGugan
December 15th, 2016

Senior executives have one overwhelming goal, at least so far as shareholders are concerned, and that goal is to create decent returns on the money invested in their companies. But what constitutes a reasonable profit in this age of low … Continue reading

Much ado about little

Both of Canada’s current signature international trade pacts are foundering just shy of completion. But given the paltry contributions the TPP and CETA are expected to make to our economy, should anyone care?
By Ian McGugan
October 11th, 2016

Can you hear the gnashing of teeth in Ottawa? Both of Canada’s flagship trade initiatives are in trouble and all the usual suspects are predicting problems as a result. Without the Trans-Pacific Partnership (TPP) to help Canadian exports expand in … Continue reading

As go home values, so goes the economy. But why?

Many agree with Bank of Canada governor Stephen Poloz when he says big-city house prices are too high. Even so, there are two different schools of thought—with wildly different outcomes—on how to handle the issue
By Ian McGugan
August 1st, 2016

Across the street from my family’s modest Toronto house, workers are building a condo tower. From Monday through Friday, the rumble of dump trucks and clank of bulldozers punctuates our breakfast. Mind you, we’re not unusual: the creaky clatter of … Continue reading

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Insider

Weathering the storm

Insider: Nick Wildgoose
October 6th, 2017

Who Nick Wildgoose, global supply chain product leader, Zurich Insurance Group; chairman of the Supply Chain Risk Leadership Council; former non-executive director of the Chartered Institute of Purchasing and Supply. Involvement Wildgoose, based in London, consults with companies globally on … Continue reading

Raising your IP IQ

Insider: Laura Quatela
August 3rd, 2017

Who Laura Quatela, chief legal officer of Lenovo Group Ltd. of China; director of Technicolor SA of France and co-founder of Quatela Lynch McCurdy, a Rochester, N.Y.-based IP asset and technology investment consultancy. Involvement In June, Quatela delivered the opening … Continue reading

Governance in motion

Insider: Anita Anand
May 17th, 2017

Who Anita Anand, professor of law at the University of Toronto and J.R. Kimber Chair in Investor Protection and Corporate Governance. Involvement In 2016, Anand was named the first research chair for investor rights in North America. She has a … Continue reading

Bidding up change

Insider: Elena Mayer
March 2nd, 2017

Who Elena Mayer, president and CEO of Women Who Rock (WWR), a volunteer organization that facilitates mentoring and sponsorship opportunities to help women establish and advance careers in mining. Involvement Mayer, a lawyer and MBA whose day job is senior … Continue reading

Fintech: growing up fast

Insider: Jesse McWaters
December 15th, 2016

Who Jesse McWaters, financial innovation lead at the World Economic Forum in New York. McWaters, a Canadian, heads WEF research on fintech, manages its council on the future of blockchain, and coauthored its influential 2015 “Future of Financial Services” report. … Continue reading

Métis rights: beyond debate

Insider: Tom Isaac
October 9th, 2016

Who Tom Isaac, Vancouver-based partner at Cassels Brock & Blackwell, is a nationally recognized authority in Aboriginal law, advising business and government clients on Aboriginal legal matters and constitutional issues. Involvement In June 2015, Isaac was asked by the federal … Continue reading

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