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Management and Governance
Page Content Governing Legislation
We adhere to the guidelines and regulations concerning the management and governance of Crown corporations set by the Treasury Board Secretariat of the Government of Canada. We report to Parliament through the Minister of International Trade and are subject to audits by the Auditor General.
Our mandate is spelled out in the Export Development Act. Under the Financial Administration Act, we are required to submit an annual Corporate Plan, which sets our performance measures and objectives, an Annual Report, which reports on our performance against these objectives, and an operating budget.
Legislative Review
We are subject to a Legislative Review by the Government of Canada every 10 years to ensure that our mandate and the Export Development Act meet the evolving needs of Canada’s exporters and investors. Our last Legislative Review ended in 2009.
Board of Directors
EDC is governed by a Board of Directors whose representatives are primarily from the private sector. The Board's responsibility is to supervise the direction and management of EDC and oversee our strategic direction as outlined in our Corporate Plan. Board members are appointed by the Government of Canada, and report to Parliament through the Minister for International Trade.
Board Members
Norman M. Betts
Fredericton, New Brunswick
First appointed to EDC's Board of Directors in 2007, Dr. Betts was reappointed for a second term in February 2010. Dr. Betts has an extensive record of public service. As the MLA for Southwest Miramichi, he served the people of New Brunswick as Minister of Finance from 1999 to 2001 and Minister of Business New Brunswick from 2001 to 2003. Dr. Betts is currently an associate professor with the Faculty of Business Administration at the University of New Brunswick and sits on several other boards of directors including New Brunswick Power Holdings, Tembec Inc., and the Nature Conservancy for the Atlantic region. He holds a PhD in Management from Queen's School of Business and is a Chartered Accountant.
Jacques Boivin
Quebec City, Quebec
Mr. Boivin was appointed to EDC's Board of Directors in March 2009. A partner at Quebec City law firm Beauvais Truchon g.p., Mr. Boivin specializes in mergers and acquisitions, sales and financing, as well as bankruptcy and insolvency. He has also served as an instructor at the École du Barreau du Québec. Mr. Boivin is a member of the Barreau du Québec, the Canadian Bar Association and INSOL International. In addition to his law practice, Mr. Boivin is active in his community and serves on boards of organizations that support education and health services.
Jeff Burghardt
Prince Rupert, British Columbia
Mr. Burghardt was appointed to EDC's Board of Directors in June 2008. He has worked in the agricultural industry for more than 25 years, including 10 years as President and Chief Executive Officer of Prince Rupert Grain Ltd. and as Chair of the Northwest Corridor Development Corporation. A leading advocate for his region, Mr. Burghardt has served as an industry adviser to both federal and provincial governments on issues such as transportation, economic development and investment.
Adam Chowaniec
Ottawa, Ontario
Dr. Chowaniec was appointed to EDC's Board of Directors in April 2008. Currently Chairman of the Board of Directors of Zarlink Semiconductor Inc., he has held executive positions at Acadia University, Bell Northern Research, Nortel Networks, Commodore International and Calmos Systems. After serving as both President and Vice-President of Newbridge Networks, Dr. Chowaniec was the founding CEO of Tundra Semiconductor Corporation in 1995. From 2006 to 2008, he was Chair of the Ontario Premier's Research and Innovation Council. He has been widely recognized for his leadership, business excellence and innovation, and was named Business Person of the Year by the Ottawa Chamber of Commerce in 1999.
Herbert M. Clarke
St. John's, Newfoundland
Mr. Clarke was appointed to EDC's Board of Directors in 2009. He has substantial private- and public-sector experience in areas of public policy and industry-government relationships, particularly relating to shipbuilding, marine construction, fish and fish products, and energy. Mr. Clarke is president of HMC Associates Ltd., a private consulting and investment firm. Previously, he served as Newfoundland and Labrador's Clerk of the Executive Council and Secretary to Cabinet, the most senior position in the province's public service. Mr. Clarke has been a member of the Canada Newfoundland Offshore Petroleum Board, founding Chairman of the Fisheries Resource Conservation Council, and Public Review Commissioner for a major offshore oil and gas project.
Jim Dinning
Chair, Calgary, Alberta
Mr. Dinning became Chair of Export Development Canada in 2007. He is Chair of Western Financial Group and has extensive experience in the private sector as a senior executive and as chair and director of a number of multinational and export-oriented Canadian companies. Mr. Dinning served in senior public sector leadership roles during his 11-year tenure as a member of the Alberta Legislative Assembly including Minister of Education and Provincial Treasurer. He also serves as Chancellor of the University of Calgary.
Linda M. O. Hohol
Calgary, Alberta
Ms. Hohol was appointed to EDC's Board of Directors in 2007. With significant experience in the financial sector and expertise in venture capital financing and wealth management, Ms. Hohol was President of the TSX Venture Exchange from 2002 to 2007, after a long career with CIBC, which included a position as Executive Vice-President of Wealth Management. She is a Director of several non-profit and private-sector corporations, including ATB Financial, EllisDon Construction and United Way of Calgary, and has been recognized as one of the 100 Most Powerful Women in Canada.
Donald A. MacLeod
Dartmouth, Nova Scotia
Mr. MacLeod was appointed to EDC's Board of Directors in 2008. Currently serving as Vice-President and Senior Counsel for J. Ray McDermott Canada, Ltd. (Secunda Marine Services), Mr. MacLeod has held senior management positions within the organization since 1989. He has extensive involvement in commercial transactions in Canada and internationally within the shipping and offshore oil and gas sector. Mr. MacLeod is Chair of the Shipowners' Mutual Protection and Indemnity Association (Luxembourg), and holds positions on several of its affiliates and management committees. He is a member of the Nova Scotia Barristers' Society.
John R. Rooney
Calgary, Alberta
Mr. Rooney was first appointed to EDC's Board of Directors in 2007 and was reappointed in January 2010. A Calgary-based entrepreneurial executive with technical background in finance, he currently serves as Chairman and CEO of Northern Blizzard Resources Inc. Mr. Rooney is a Chartered Accountant and Chartered Business Valuator and with more than 20 years of experience primarily in the oil and gas industry. He also serves as a Director of several public and private companies and not-for-profit organizations.
Jeffrey Steiner
Toronto, Ontario
Mr. Steiner was appointed to EDC's Board of Directors in December 2010. Before establishing New Franchise Media in 2010, Mr. Steiner served approximately seven years as President and Chief Executive Officer of the Toronto Economic Development Corporation (TEDCO), and three years as a board member of the Alcohol and Gaming Commission of Ontario. Mr. Steiner currently serves as Chair of the Governance Committee on the Board of Directors of the Ontario Centres of Excellence Inc., which oversees government investment in the commercialization of university R&D through industry-academic collaboration and venture capital finance. He is an active member of the Young Presidents' Organization (YPO) Toronto Chapter and the Institute of Corporate Directors with an ICD.D designation.
Darlene Thibault
Laval, Quebec
Ms. Thibault was appointed to EDC's Board of Directors in January 2010. A Director at the Bank of Nova Scotia since 2005, Ms. Thibault is responsible for Credit Lease Scotia and the Immigrant Investor Program in the Quebec region. Her 20-year career in the financial industry has included positions at HSBC Bank, the Bank of Montreal, Bombardier Capital Ltd., AT&T Capital Canada Inc., and Pitney Bowes Leasing.
Page Content 2 View Board activity details Executive Management Team
In addition to overseeing day-to-day operations, the Executive Management Team plans and executes the business strategy as outlined in the Corporate Plan.
Executive Management Team
 Stephen S. Poloz
President and Chief Executive Officer
Stephen Poloz was appointed President and Chief Executive Officer in January 2011, after nearly 30 years of public- and private-sector experience in financial markets, forecasting and economic policy. He joined EDC in 1999 as Vice-President and Chief Economist. From 2008 to 2010 he was Senior Vice-President, Financing, with responsibility for all of EDC's lending programs, in addition to the Economics and Corporate and International Trade Intelligence groups. Prior to joining EDC, Mr. Poloz spent five years with Montreal-based BCA Research, and 14 years with the Bank of Canada in Ottawa. He has been a visiting scholar at the International Monetary Fund in Washington, and at the Economic Planning Agency in Tokyo. He has also served as President of the Ottawa Economics Association. Mr. Poloz is a Certified International Trade Professional.
 Benoit Daignault
Senior Vice-President, Business Development
Benoit Daignault joined EDC as Senior Vice-President, Business Development in November 2004. Mr. Daignault leads the business strategy of the corporation through sector teams specialized in the major global supply chains. He is also responsible for the network of EDC's offices and representations in Canada and overseas. Previously, Mr. Daignault spent more than 10 years with General Electric Capital, where he held increasingly senior positions in both Canada and the U.S.
 Pierre Gignac
Senior Vice-President, Insurance
Pierre Gignac was appointed Senior Vice-President, Insurance, in January 2004. Mr. Gignac joined EDC in April 1999 as Director, Claims and Insurance Accounting and later moved to Vice-President, Insurance and Loans Services. Before assuming his current role, he was EDC's Vice-President, Short-Term Credit and Risk Assessment. Prior to joining EDC, Mr. Gignac held senior posts during his 14-year career at Metropolitan Life Insurance Company. Mr. Gignac is a fellow of the Society of Actuaries, a fellow of the Canadian Institute of Actuaries, a Chartered Financial Analyst and a graduate of Columbia University's Senior Executive Program.
 Ken Kember
Senior Vice-President, Finance, and Chief Financial Officer
Ken Kember was appointed Senior Vice-President, Finance, and Chief Financial Officer in 2009. Mr. Kember leads the Finance organization, including Treasury, Financial Planning and Reporting, Corporate Accounting, Loans Services and Cash Management. Mr. Kember has held various positions of increasing responsibility in the Finance Group, and served as Vice-President and Corporate Controller for five years prior to taking on his current role. Prior to joining EDC in 1995, he was a senior manager in the Accounting and Audit Group of PricewaterhouseCoopers in Ottawa. Mr. Kember is a Chartered Accountant and Certified Management Accountant. He also serves on the board of the National Capital Region Chapter of Financial Executives International.
 Susanne Laperle
Senior Vice-President, Human Resources and Corporate Services
Susanne Laperle was appointed Senior Vice-President, Human Resources in February 2001. Ms. Laperle is responsible for EDC's Human Resources Group, including Total Compensation, Business Partners/Recruitment, Learning and Development, Organizational Effectiveness, and Corporate Services. Prior to joining EDC, Ms. Laperle was a Vice-President of human resources and communications for a number of major Canadian retail companies, and has extensive experience in facilitating change across large organizations. Ms. Laperle was also a senior consultant with the John C. Williams Group in Toronto, where she specialized in human resources and communications.
 Derek Layne
Senior Vice-President, Business Solutions and Innovation Group
Derek Layne was appointed Senior Vice-President, of the newly created Business Solutions and Innovation Group in December 2011. In this capacity Mr. Layne is responsible for managing the technology platforms, information systems, as well as the centres of expertise for business intelligence, process and program support which enable EDC’s operations. Mr. Layne previously held various management positions within EDC’s lending practice and served as EDC’s Chief Risk Officer for the past four years, before assuming his current role. He has over 19 years of experience in underwriting international financing. Prior to joining EDC in 1992, Mr. Layne worked for an engineering firm.
 Jim McArdle
Senior Vice-President, Legal Services & Secretary
Jim McArdle was appointed Senior Vice-President, Legal Services and Secretary in February 2006. Mr. McArdle joined EDC as a Legal Counsel in 1993 and became Senior Legal Counsel in 1994. He was appointed General Counsel and Senior Assistant Secretary in July 2002. Prior to joining EDC, he was a member of a national Toronto law firm for 10 years.
 Rajesh Sharma
Senior Vice-President, Financing Products Group
Rajesh Sharma was appointed as Senior Vice-President Financial Products Group in January 2011. Mr. Sharma is responsible for the leadership and management of EDC’s global, equity and debt financing operations across all product lines, including project and structured finance, commercial lending to small and medium enterprises and corporate and asset-back lending. Since joining EDC in 1995, Mr. Sharma has overseen various product lines including its Project and Structured Finance, Corporate Lending and Political Risk Insurance operations. Prior to joining EDC, Mr. Sharma spent four years with Ontario Hydro. Mr. Sharma has an MBA from the University of Windsor in Canada, and an MPhil. in Economics and MA Honours in Economics, from Panjab University in India.
Page Content Bottom Audit Committee of the Board of Directors
The Audit Committee is composed of directors independent of EDC management. This Committee assists the Board in fulfilling its responsibilities related to financial matters, business ethics, environmental review and our Compliance Officer program. The Committee regularly meets independently with representatives of the Office of the Auditor General and EDC's internal auditors. The Terms of Reference for the Audit Committee of the Board of Directors outline the Committee's composition, purpose, areas of responsibility and related work and are reviewed on an annual basis.
Corporate Social Responsibility Advisory Council
As part of our effort to continually improve our social responsibility practices, we created a Corporate Social Responsibility Advisory Council to provide advice and guidance on our CSR practices. For more information see Corporate Social Responsibility.
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Looking for detailed information on our performance measures and highlights?
Doing Business Where Business Gets Done
2010 Annual Report
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