Bill Morneau resigns as Executive Chair of Morneau Shepell
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Jill Denham appointed Chair of the Board of Directors
TORONTO, Oct. 26, 2015 /CNW/ - Morneau Shepell Inc. (TSX: MSI) ("Morneau Shepell" or the "Company) today announced that following his election as a federal Member of Parliament, Bill Morneau resigned today as Executive Chair of Morneau Shepell. Mr. Morneau will no longer be involved in the Company's management.
Effective immediately, Jill Denham will take on the role of Chair of the Board. Ms Denham has been on the Board of Directors of Morneau Shepell and its predecessor since 2008. Among other roles, Ms Denham was Vice Chair at CIBC Retail Markets, and a Director of the Ontario Teachers' Pension Plan Board. She is currently a director of several companies, including National Bank of Canada. She holds an HBA from the University of Western Ontario School of Business Administration and an MBA from the Harvard Business School.
"On behalf of the Board of Directors, I'd like to thank Bill for his guidance and leadership over his many years in building Morneau Shepell into Canada's leading human resources consulting and technology company, and wish him well in this exciting phase of public service that he is entering," said Ms Denham. "We have a strong leadership team at Morneau Shepell, under the direction of Alan Torrie, President and Chief Executive Officer. We are confident in the depth and continuity of the management team to continue to deliver on our strategic plan and maintain our focus on creating shareholder value."
"On behalf of all of our almost 4,000 employees and the management team I'd like to thank Bill for his leadership at Morneau Shepell. His vision and his commitment helped to build the successful business that we are today," said Alan Torrie, President and Chief Executive Officer. "We all wish him well in this exciting new phase of his career."
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits, and retirement needs. The Company is the leading provider of Employee and Family Assistance Programs, the largest administrator of pension and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity, and improve their competitive position.
Established in 1966, Morneau Shepell serves more than 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
This news release contains "forward-looking statements" within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as "may", "will", "expect", "believe", or other words of similar effect may indicate a "forward-looking" statement. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Company's publicly filed documents (available on SEDAR at www.sedar.com) and in the firm's MD&A under the heading "Risks and Uncertainties". Those risks and uncertainties include ability to maintain profitability and manage growth, reliance on information systems and technology, reputational risk, dependence on key clients, reliance on key professionals and economic conditions. Many of these risks and uncertainties can affect the firm's actual results and could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statement made by the Company or on the firm's behalf. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this news release are qualified by these cautionary statements. These statements are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities.
SOURCE Morneau Shepell - Corporate