BURNABY, BC, Nov. 1 /CNW/ - Terasen Inc. (TSX:FTS) today announced its newly formed Board of Directors.
"To be successful, a utility must be operated and managed in the community it serves," says Stan Marshall, President and Chief Executive Officer, Fortis Inc. "The establishment of the Terasen Board of Directors completes a significant step as planned when Fortis announced its acquisition of Terasen last May. Like all of our utilities, Terasen operates as a stand-alone company with its own Board of Directors who will provide oversight to the company as it remains focused on meeting the needs of its customers," he adds.
Board members will be directors for both Terasen Inc. and Terasen Gas Inc. Terasen Inc. is the parent company of the Terasen Gas companies, which deliver natural gas and propane safely and reliably to more than 900,000 homes and businesses in B.C., representing 95 per cent of all natural gas customers in the province, and Terasen Energy Services, an emerging company focused on integrating alternative energy into district energy systems.
"We are fortunate to have this calibre of talent on our boards. We look forward to working with the board members and the tremendous contribution they will make to Terasen through their collective expertise and regional perspectives," said Randy Jespersen, President and CEO of Terasen Inc.
Newly appointed directors include: - Harold Calla - is the Chair of the First Nations Financial Management Board and a member of the Squamish Nation. - Ida J. Goodreau - is the President and CEO of the Vancouver Coastal Health Authority. - Harry McWatters - is the founder and President of the Sumac Ridge Estate Wine Group, and is a leader in the British Columbia wine industry. - Linda S. Petch - is the President of Petch & Associates Management Consultants Ltd., which provides governance and accountability framework services to Boards. - David R. Podmore - is the President and CEO of Concert Properties Ltd., a national real estate enterprise. The newly appointed members join board members appointed from within the Fortis Inc. group of companies, including: - H. Stanley Marshall (Chairman) - is the President and CEO of Fortis Inc. - R.L. (Randy) Jespersen - is the President and CEO of Terasen Inc. and the Terasen Gas group of companies. - Barry V. Perry - is the Vice President, Finance and CFO of Fortis Inc. - John Walker - is the President and CEO of FortisBC Inc.
Terasen Inc. is a Canadian corporation headquartered in British Columbia and the parent company of the Terasen Gas companies, the principal natural gas distributor in the province of British Columbia. Terasen Inc. is a direct, wholly-owned subsidiary of Fortis Inc. Fortis Inc., the largest investor-owned distribution utility in Canada, serves almost two million gas and electric customers and has approximately $10 billion of assets. Its regulated holdings include Terasen Gas and electric utilities in five Canadian provinces and three Caribbean countries. Fortis Inc. owns non-regulated hydroelectric generation assets across Canada and in Belize and upper New York State. It also owns hotels and commercial real estate in Canada. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.
Backgrounder with detailed director biographies attached.
Terasen Inc. Board of Directors
Harold Calla - is a member of the Squamish Nation and has served two terms on its Council. Since 1986 he has worked with the Squamish Nation representing its interests in commercial business, economic development and accommodation negotiations. Mr. Calla is on the Board of Directors of Partnerships B.C. and of Canada Mortgage and Housing Corporation, as well as serving as Chair of the First Nations Financial Management Board. In 2005, he was awarded the Aboriginal Financial Officers Association of Canada and Xerox Canada Ltd. National Award for Excellence in Leadership. He lives in North Vancouver.
Ida J. Goodreau - is the President and Chief Executive Officer of the Vancouver Coastal Health Authority. She previously held executive positions in both the forestry and natural gas sectors in Canada and internationally. Ms. Goodreau currently serves on the Board of Directors of the Vancouver Board of Trade and serves as Chair of the Western Canada Health CEO Forum. She previously served on the Boards of Terasen Inc. and Shell Canada. She lives in Vancouver.
Harry McWatters - is the founder and President of the Sumac Ridge Estate Wine Group, and a leader in the British Columbia wine industry. He is President of Black Sage Vineyards Ltd., Hawthorne Mountain Vineyards Limited, and Okanagan Estate Wine Cellars Ltd. and is responsible for government and industry relations in Western Canada for Vincor Canada. He has served on FortisBC's Board of Directors since 2005, serving as Chairman since 2006. Mr. McWatters joined the Fortis Inc. Board in 2007. In 2003, he was awarded the Order of British Columbia, for outstanding achievement. He lives in Summerland.
Linda S. Petch - is the President of Petch & Associates Management Consultants Ltd., a company providing governance and accountability framework services to Boards. She is a member of the Board of Governors of RBC Mutual Funds and RBC Private Pools and serves on the Board of Directors of the Vancouver Island Health Authority and of the Health Employers Association of B.C. Ms. Petch is a recipient of the Queen's Jubilee Medal, the YWCA of Victoria Women of Distinction Award, and the MBA Mentor of the Year Award from the University of Victoria Faculty of Business. She lives in Victoria.
David R. Podmore - is the President and Chief Executive Officer of Concert Properties Ltd., an award-winning national real estate enterprise that he co-founded in 1989. Under Mr. Podmore's leadership, the company has undertaken numerous diverse initiatives to build better communities and contribute to the availability of skilled, well-trained trades people. Mr. Podmore is the Chair of the Vancouver Convention Centre Expansion Project and Chair of the BC Pavilion Corporation. He is also Vice Chair of the British Columbia Institute of Technology Foundation, and past president of the Urban Development Institute of BC. He is the first recipient of the Award of Excellence established by the Real Estate Institute of BC. He lives in Vancouver.
The newly appointed members join the existing Terasen Inc. board members appointed from within the Fortis Inc. group of companies. Existing members include:
H. Stanley Marshall (Chairman) - is the President and Chief Executive Officer of Fortis Inc., serving in this role since 1995. He is a member of the Law Society of Newfoundland and a Registered Professional Engineer. Mr. Marshall serves on the Boards of all Fortis companies and is a Director of Toromont Industries Ltd. He lives in St. John's, Newfoundland.
R.L. (Randy) Jespersen - is the President and Chief Executive Officer of Terasen Inc. and the Terasen Gas group of companies. He has been with Terasen Gas Inc. since March 1996. Previously, Mr. Jespersen spent 20 years in various management positions with Amoco and Dome Petroleum. Mr. Jespersen serves on the board of FortisBC Inc., is Chair of the Board of the Canadian Gas Association, and a former Chair of the Western Energy Institute. He lives in West Vancouver.
Barry V. Perry - is the Vice President, Finance and Chief Financial Officer of Fortis Inc. He served in this position since 2004. Prior to his current position at Fortis, he held the position of Vice President, Finance and Chief Financial Officer of Newfoundland Power Inc. Mr. Perry also serves on the Boards of FortisAlberta Inc. and FortisBC Inc. He lives in St. John's, Newfoundland.
John Walker - is the President and CEO of FortisBC Inc. He has worked with the Fortis group of companies since 1983, where he began his career with Newfoundland Power Inc. He is a member of several boards within the Fortis group of companies, including FortisBC Inc., FortisAlberta Inc. and Newfoundland Power Inc. He lives in Kelowna.