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TORONTO, Aug. 19, 2019 /CNW/ - Morneau Shepell Inc. (the "Company" or "Morneau Shepell") (TSX:MSI) today announced Grier Colter has been appointed the Company's Chief Financial Officer (CFO) and Executive Vice President, effective October 1, 2019. Grier will report to the Stephen Liptrap, President and Chief Executive Officer and will oversee Morneau Shepell's financial activities, corporate accounting and reporting, investor relations, corporate strategy, and mergers and acquisitions.
"We are thrilled that a person of Grier's calibre is joining our team. In his impressive 25-year career, including global financing, structured deals, corporate banking, and treasury, he has earned an excellent reputation as a finance executive, leading CFO and business driver," said Liptrap. "As we continue to expand globally, Grier's proven track record and deep knowledge as a strong financial leader, business builder and M&A expert will be important to executing our long-term strategic plan."
With Colter's appointment, Scott Milligan will move to a role as Chief Corporate Officer and Executive Vice President and will continue to report to Liptrap.
In this new role, Milligan will be responsible for leading the Company's transformation efforts, as well as a number of key areas that support the Company's global growth including implementation of new finance, HR and Professional Services systems, building of the Company's workplace of the future, sustainability and corporate social responsibility, corporate communications, legal, corporate services, risk, and internal audit. "Scott's new role will be crucial to implementing the next phase of our strategic plan and our continued growth, global expansion and being more scalable," said Liptrap.
"During Scott's 10 years as CFO, the Company has seen revenue and EBITDA more than triple and the market capitalization of the Company has more than quadrupled," said Liptrap. "His commitment to maintaining a strong balance sheet and his strong financial discipline have helped us continue to grow the business. Scott brings the same rigor, focus and commitment to his new role."
Grier Colter joins Morneau Shepell as Chief Financial Officer and Executive Vice President bringing approximately 25 years of finance experience. Prior to joining Morneau Shepell, he was Chief Financial Officer of ECN Capital Corp. and a key member of the management team that transformed the company through several divestitures and acquisitions. Prior to that, Mr. Colter served in senior level positions at large publicly traded corporations including Canadian Tire Corporation and Barrick Gold Corporation. Mr. Colter earned his Chartered Accountant designation with Ernst and Young LLP. He is a Chartered Financial Analyst and holds a Bachelor of Business Administration with Honours from Wilfrid Laurier University.
About Morneau Shepell Inc.
Morneau Shepell is the leading provider of technology-enabled HR services that delivers an integrated approach to well-being through our cloud-based platform. Our focus is providing everything our clients need to support the mental, physical, social and financial well-being of their people. By improving lives, we improve business. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement and benefits consulting, actuarial and investment services. Morneau Shepell employs approximately 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries. 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 sedar.com) and in the Company'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 Inc.
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