McGuinty Government Appoints New LCBO Chair



    Philip J. Olsson To Lead LCBO

    QUEEN'S PARK, March 9 /CNW/ - Philip J. Olsson has been appointed as
Chair of the Liquor Control Board of Ontario (LCBO), Public Infrastructure
Renewal Minister David Caplan announced today.
    "I believe that Philip is the right choice to sustain a socially
responsible and efficient LCBO," said Caplan. "He has proven his leadership
capabilities while serving as both acting chair and CEO."
    Olsson was instrumental in helping the organization achieve a record
$3.7 billion in sales for fiscal 2006. He also lent his expertise and support
to other LCBO priorities:
    
    -   Continuing to give high priority to social responsibility, including
        promotion of responsible drinking
    -   Encouraging the organization's environmental stewardship, most
        recently through the new deposit return program.
    

    Olsson is a partner in K J Harrison & Partners Inc., a privately-held
investment firm, and has had a 30-year career as an investor and investment
and commercial banker. He holds BA and MBA degrees from Vanderbilt University
and studied monetary economics as a postgraduate at the London School of
Economics. He is a director of a number of private companies and has long been
active in community and civic affairs on behalf of such organizations as the
United Way, Trout Unlimited and the Shaw Festival.
    "It's an honour to be named Chair of the LCBO and to have an opportunity
to contribute to the further development of an organization which takes pride
in offering customer service in a socially responsible manner, and which
supports Ontario's social and capital projects through its annual dividends,"
Olsson said.
    In December 2006, the Liquor Control Act was amended to separate the
roles of the Chair and the CEO. The LCBO's board has transferred CEO
responsibilities to the agency President. Bob Peter, who has been LCBO
President and COO since 2001, is now CEO as well as President. Mr. Peter will
oversee day-to-day operations and lead the LCBO's experienced management team
and its more than 6,000 employees.
    Mr. Olsson was appointed to the LCBO board as Vice Chair in June 2004 and
became Acting Chair and CEO in February 2006. His term as Chair runs until
March 2010.

    
    Disponible en français

                               ontario.ca/pir



    Backgrounder
    -------------------------------------------------------------------------

                        PHILLIP J. OLSSON, CHAIR LCBO
    

    Philip Olsson is a partner in K J Harrison & Partners Inc., a
privately-held investment firm for private individuals. He has had a career of
more than 30 years in finance, as an investor and investment and commercial
banker, including Managing Director, Private Equity, at Altamira Investment
Services Inc., where he restructured and oversaw Altamira's private equity
functions.
    Prior to that he was Managing Director of Royal Bank Equity Partners
Limited, the Royal Bank Financial Group's merchant banking unit, and, before
that, was Vice Chairman of RBC Dominion Securities, Canada's largest
investment bank.
    Mr. Olsson holds BA and MBA degrees from Vanderbilt University,
Nashville, Tennessee, and studied monetary economics as a postgraduate at the
London School of Economics. He holds a CBV designation from the Canadian
Institute of Chartered Business Valuators.
    He has long been active in community and civic affairs on behalf of such
organizations as the United Way, Wilfrid Laurier University, the Shaw Festival
and Trout Unlimited.
    He was appointed to the LCBO Board as Vice Chair in June, 2004, became
Acting Chair and Chief Executive Officer on February 6, 2006, and was
appointed Chair for a five-year term ending in March 2012.

    
    Disponible en français

                               ontario.ca/pir
    





For further information:

For further information: Media Contacts: Amy Tang, Minister's Office,
(416) 325-4048; Daniele Gauvin, LCBO, (416) 864-6721

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Ontario Ministry of Public Infrastructure Renewal

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