Business Leaders Elect David P. O’Brien as Chairman of the Business Council on National Issues

April 15, 1999

The Business Council on National Issues has elected David P. O’Brien as its new Chairman.

Mr. O’Brien, who is Chairman, President and Chief Executive Officer of Canadian Pacific Limited, succeeds A. L. Flood, Chairman and Chief Executive Officer of CIBC. Mr. Flood now assumes the post of Honorary Chairman.

The Business Council on National Issues is a not-for-profit, non-partisan organization that is the vehicle for Canadian chief executive participation in national and global issues.

The member companies of the BCNI administer close to $1.9 trillion in assets, have a yearly turnover of more than $500 billion, employ about one in ten working Canadians and are responsible for a majority of Canadian private sector investment, exports, research and development and training.

“I am honoured to take on the responsibility of chairing the BCNI at what I believe is a critical time for Canada’s economy,” said Mr. O’Brien. “We have taken on free trade and triumphed, we have beaten down inflation and we have conquered runaway public deficits, but technological change and global economic integration are posing new challenges for Canadian companies, our employees and our country.”

The members of the BCNI also elected two new Vice Chairmen: John E. Cleghorn, Chairman and Chief Executive Officer of the Royal Bank of Canada, and James F. Shepard, Chairman and Chief Executive Officer of Finning International Inc.

Continuing as Vice Chairmen are Jacques Bougie, President and Chief Executive Officer of Alcan Aluminium Limited, and Jean C. Monty, President and Chief Executive of BCE Inc. The President and Chief Executive of the BCNI is Thomas d’Aquino.

In succeeding Mr. Flood as Chairman of the BCNI, Mr. O’Brien joins a long list of distinguished business leaders from a variety of industry sectors. Other former BCNI chairmen include: Guy Saint-Pierre of SNC-LAVALIN Group Inc. (1995-1997); J. Edward Newall of NOVA Corporation (1989-1995), David M. Culver of Alcan Aluminium Limited (1986-1989), Rowland C. Frazee of Royal Bank of Canada (1983-1986), Jack C. Barrow of Sears Canada Inc. (1979-1983) and founding Chairmen Alfred Powis of Noranda Inc. and William O. Twaits of Imperial Oil Limited (1976-1979).

Click here for the text of Mr. O’Brien’s remarks to the Annual General Meeting.