TORONTO, March 24 /CNW/ - Richard Bird, Executive Vice-President, Chief Financial Officer and Corporate Development of Enbridge Inc. and Cynthia Devine, Chief Financial Officer of Tim Hortons Inc. have been chosen winners of Canada's CFO of the Year(TM) Award for 2010. Mr. Bird and Ms. Devine will be honoured at a gala dinner on May 6, 2010 in Toronto. This is the first time in the award's eight year history that two CFOs have received the award.
Canada's CFO of the Year(TM) Award is presented annually by Financial Executives International Canada (FEI Canada), PricewaterhouseCoopers LLP and The Caldwell Partners International. The award honours and recognizes the quality, insight, direction and leadership of Canada's senior financial executives.
"In a time where the challenges brought on by Canada's economic turbulence have tested the mettle of CFOs all across this country, we are very pleased to recognize, for the first time, two outstanding financial professionals like Richard Bird and Cynthia Devine, who have demonstrated vision, innovation and leadership within their organizations and in their communities," says Michael Conway, Chief Executive & National President of FEI Canada.
Mr. Bird and Ms. Devine were named Canada's CFO of the Year(TM) by an independent committee, chaired by Peter Dey, and composed of some of Canada's most prominent business leaders. The criteria by which nominees were judged are: Vision and Leadership, Corporate Reporting and Performance, Social Responsibility, Innovation and Business Complexity. Award candidates were nominated in all business sectors by CEOs, members of boards of directors, financial analysts and other senior executives.
Mr. Bird joined Enbridge in 1995, and previously served as Vice-President and Treasurer, Senior Vice-President of Planning and Development, and Executive Vice-President of Enbridge's Liquids Pipelines division. He serves on the boards of directors of Enbridge Income Fund, Enbridge Pipelines Inc., Enbridge Gas Distribution, Noverco Inc. and Bird Construction Income Fund. Mr. Bird holds a Bachelor of Arts degree from the University of Manitoba and a MBA and Ph.D. from the University of Toronto.
Ms. Devine joined Tim Hortons in 2003 having served as Senior Vice-President of Finance of Maple Leaf Consumer Foods and Chief Financial Officer of Pepsi-Cola Canada Ltd. She serves on the board of directors of ING Direct Canada. Ms. Devine is a graduate of the Richard Ivey School of Business at the University of Western Ontario (HBA) and is a Chartered Accountant.
"These two professionals are leading examples of how CFOs help to drive business profitability and position their company for the next stage of success," says Gino Scapillati, National Managing Partner of PricewaterhouseCoopers. "This year's winners come from differing industries and backgrounds, and are equally deserving of this distinction to recognize the outstanding achievements they are making as champions of their business."
Ron Charles, Managing Partner, The Caldwell Partners International adds, "The role of a CFO goes far beyond balancing the books of their business. It takes superior strategic leadership, financial management and corporate development skills, a commitment to good governance and a passion for making a positive impact on their industry. This award recognizes individuals who possess all of these characteristics and shed light on the instrumental role CFOs play in Canadian business."
Previous recipients of Canada's CFO of the Year(TM) Award include:
2009: David Garofalo, Senior Vice-President, Finance and Chief Financial
Officer of Agnico-Eagle Mines Ltd.
2008: Bruce Waterman, Senior Vice-President, Finance and Chief Financial
Officer of Agrium Inc.
2007: Marvin Romanow, Executive Vice-President and Chief Financial
Officer of Nexen Inc.
2006: Karen Maidment, Chief Financial and Administrative Officer of BMO
2005: Claude Mongeau, Executive Vice-President and Chief Financial
Officer of CN
2004: Peter Rubenovitch, Senior Executive Vice President and Chief
Financial Officer of Manulife Financial Group
2003: Peter W. Currie, Vice-Chairman and Chief Financial Officer of RBC
Canada's CFO of the Year(TM) Award is also sponsored by American Express, The Canadian Institute of Chartered Accountants, Lerners LLP and The Fairmont Royal York. The media sponsor is The Globe and Mail. Air travel services are provided by Air Canada and presentation technology for the gala dinner is provided by AVW-TELAV Audio Visual Solutions.
More information on Canada's CFO of the Year Award can be found at www.cfoy.ca.
About Financial Executives International Canada (FEI Canada)
FEI Canada is the all-industry professional membership association for senior financial executives. With 11 chapters across Canada and 2,000 members, FEI Canada provides professional development, thought leadership, and advocacy services to its members. The association membership, which consists of Chief Financial Officers, Audit Committee Directors, and senior executives in the Finance, Controller, Treasury, and Taxation functions, represents a significant number of Canada's leading and most influential corporations. For further information, please visit www.feicanada.org.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,300 partners and staff in offices across the country.
About The Caldwell Partners
The Caldwell Partners International Inc., founded in 1970, was Canada's first executive search firm. Today the human capital services company serves clients across Canada, in the United States, and internationally with offices in Montreal, Toronto, Calgary, Vancouver, San Francisco, and Los Angeles. The Caldwell Partners focuses, in particular, on recruiting "C-class" executives (chief executive, chief financial, chief information officers, as well as other senior executives). The Caldwell Partners takes pride in delivering unmatched depth of service and expertise to its clients, the calibre and experience of its staff, and the successful completion of its engagements. The Caldwell Partners founded and continues to promote the prestigious national awards programs recognizing Canada's Outstanding CEO of the Year(TM) and Canada's Top 40 Under 40(TM), and advises and supports the Canada's CFO of the Year Award(TM) program.
The Caldwell Partners' Class-A non-voting shares are listed on The Toronto Stock Exchange (TSX: CWL.A). Please visit our website at www.caldwell.ca for further information.
About Enbridge Inc.
Enbridge Inc., a Canadian company, is a North American leader in delivering energy. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 6,000 people, primarily in Canada and the U.S. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com.
About Tim Hortons Inc.
Tim Hortons is the fourth largest publicly-traded restaurant chain in North America based on market capitalization, and the largest in Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including our trademark donuts. As of January 3rd, 2010, Tim Hortons had 3,578 system wide restaurants, including 3,015 in Canada and 563 in the United States. More information about the Company is available at www.timhortons.com.
For further information: For further information: Jessica Draker, PricewaterhouseCoopers LLP, (416) 869-8723, firstname.lastname@example.org; Caroline Spivak, FEI Canada, (416) 371-9740, email@example.com