Morneau Shepell Inc. holds 2015 annual meeting of shareholders in Toronto
TORONTO, May 12, 2015 /CNW/ - Morneau Shepell Inc. (the "Company" or "Morneau Shepell") (TSX: MSI) told shareholders at its annual meeting that 2014 was another year of solid growth and the delivery of shareholder value. Held at the Arcadian Loft in Toronto, the meeting included the election of the board of directors and presentations by Executive Chair Bill Morneau, President and Chief Executive Officer Alan Torrie and Chief Financial Officer Scott Milligan.
"Our focus on providing market-leading solutions and thought leadership within the human resources sector has been very successful for us. In 2014 we achieved a significant threshold in our growth as an organization when we crossed over the $500 million mark in revenue for the first time," said Alan Torrie, President and Chief Executive Officer. "The building of our company to and beyond the $500 million mark has been accomplished through the successful establishment of our business and people processes, long-term client relationships and maintaining, over time, a disciplined approach to the execution on business fundamentals. This resulted in the delivery of strong organic growth, which has produced consistent shareholder returns and profitability," noted Torrie. The Company also released its first quarter 2015 results which continued the trend.
Executive Chair Bill Morneau spoke at the meeting about the approach of the Company's 50th anniversary and how the growth of Morneau Shepell has mirrored and actively supported a number of powerful changes in Canadian society over the past half century, including the Canada/Quebec Pension Plan, which celebrated its 50 year anniversary this year. "It was in 1965 that the government of Lester Pearson introduced the Canada Pension Plan," said Morneau. "The CPP fundamentally changed our retirement readiness in this country, and focused our attention on preparing for life after work. It was a significant factor in reducing the senior poverty rate from over 60 per cent for seniors over age 70 in the early 1960s to about six per cent today for those over age 65 in Canada – a huge achievement."
Added Morneau, "Morneau Shepell was there every step of the way through this transformation of Canadian society, growing with the new opportunities that came with it. Over time, we have helped many businesses and public-sector organizations design and administer their pension plans, which have enabled millions of Canadians to be better prepared for retirement." Morneau also pointed towards the future landscape of Canada's retirement system and that of the Company. "As the largest player in the pension administration business in Canada today, our service continues to evolve, providing us with a window into the opportunities and challenges of helping Canadians to retire over the next generation."
Alan Torrie also commented on the Company's performance in the first quarter of 2015. "We are seeing strong momentum in the first quarter," he said. "Going forward, we expect that our continued investment in our business, our new acquisitions, capital structure, established business relationships and prospective client base will continue to yield positive results for the Company."
Shareholders voted overwhelmingly in support of the re-election of all of the directors. Results, as a percentage of all votes cast, are as follows:
- Robert Chisholm: 99.64 per cent
- Jill Denham: 99.61 per cent
- Diane MacDiarmid: 99.86 per cent
- Jack Mintz: 99.86 per cent
- W.F. (Frank) Morneau Sr. 99.89 per cent
- Bill Morneau: 99.03 per cent
- John Rogers: 99.62 per cent
- Kevin Pennington: 99.85 per cent
- Alan Torrie: 99.87 per cent
KPMG LLP was reappointed as the auditors of the Company.
Proxy materials for this meeting are available at the Investors section of morneaushepell.com and on the SEDAR website at sedar.com.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human resources consulting and outsourcing services. The Company is the leading provider of employee and family assistance programs, as well as the largest administrator of retirement 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 approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With about 3,700 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.
SOURCE Morneau Shepell - Investor Relations