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This release was issued under a previous government.
Premier Prentice has committed to merit-based appointments to ensure the right people are in the right jobs in all organizations associated with the Government of Alberta.
The 52 agencies reporting directly to government and the 142 ABCs under the Alberta Public Agencies Governance Act will be reviewed in each of the following areas:
- director appointment processes
- president/CEO assessment processes and succession planning
- risk management strategies; and,
- conflict-of-interest policies.
“Agencies, boards and commissions play a huge role in the success of any government. I am committed to strong public agency board governance, accountability and transparency.”
The first phase will be a governance review of the key financial institutions whose financial performance is critical to Albertans. Good governance is essential to sound financial performance. These include:
- Alberta Treasury Branches ($37.7 billion in assets)
- Alberta Capital Finance Authority ($14.4 billion in assets)
- Agriculture Financial Services ($4 billion in assets)
- Alberta Investment Management Corporation (managing a portfolio of $87 billion in financial assets)
Premier Prentice has asked three Albertans with extensive knowledge in board governance of financial institutions – Hugh Bolton, Linda Hohol and Larry Pollock – to participate in this specific governance review. All have agreed to accept $1 a year for their services.
This first round of reviews will be completed within two months.
Given the large number of entities, attention will be next directed to the remainder of the 52 agencies that report directly to government.
“Under my leadership, your government will ensure the best Albertan for the job is appointed. Political party affiliation is not a relevant consideration.”
ABCs are established by the government to fulfill a range of services and functions including: provision of health care, social services, services for children, corporate enterprises, regulatory oversight, post-secondary education and advice to the government.
Review panel members
Hugh Bolton is the retired Chair and CEO of Coopers & Lybrand Canada, a past director of TD Bank Financial Group and Canadian National Railway, Chair of the Board of Epcor, and on the boards of Capital Power, Teck Resources, and WestJet Airlines. He is a fellow of the Institute of Corporate Directors and also a fellow of the Alberta Institute of Chartered Accountants. Hugh Bolton alone will conduct the governance review of ATB Financial.
Linda Hohol is past President of the TSX Venture Exchange, retired Executive Vice-President, Wealth Management of CIBC, former Director of ATB Financial, director of Canadian Western Bank, and has served on other boards including the Canadian Chamber of Commerce and the Calgary Chamber of Commerce. She is also a member of the Institute of Corporate Directors.
Larry Pollock retired as President and CEO of Canadian Western Bank in 2014. He serves on the Boards of Epcor, WestJet, and Canadian Helicopters, and has been a member of the Executive Council of the Canadian Bankers Association.