TORONTO, May 11, 2016 /CNW/ -Morneau Shepell Inc. (the "Company" or "Morneau Shepell") (TSX: MSI) told shareholders at its annual meeting that in 2015, the Company maintained its track record of growth, continuing to increase value for all stakeholders. Held at the Fairmont Royal York in Toronto, the meeting included the election of the board of directors and presentations by Chair of the Board Jill Denham, President and Chief Executive Officer Alan Torrie and Chief Financial Officer Scott Milligan.
"I am pleased to say that in 2015 – and to date in 2016 – the Company demonstrated its continued ability to deliver consistent, profitable growth," said Alan Torrie, President and Chief Executive Officer. "Last year, we were presented with the opportunity of building on the exceptional growth we delivered in 2014, while also navigating through some very uncertain macro-economic conditions. Revenue for the year reached $567.3 million, increasing by $31.4 million, or 5.9 per cent compared to the previous year. I am pleased with how our team rose to this challenge and how we have continued to make progress against our financial goals."
In its 50th year of business, Morneau Shepell continues to grow through the development of its existing client relationships and expansions throughout North America. "Our client satisfaction remained in the top quartile of our industry, as indicated by our annual survey, which found that nine out of 10 clients were very satisfied with our service overall," said Torrie. "We also positioned ourselves to advance further in international markets by acquiring Ceridian's U.S. health and welfare administration business and U.S. EFAP provider Bensinger, DuPont & Associates."
"Throughout its evolution, Morneau Shepell has helped all types of organizations build programs that increase the financial security, health and productivity of their employees," said Jill Denham, Chair of the Board. "I have seen the Company's growth over the past several years and I am pleased with the results and the excellent work from our management team. We are excited about the future of Morneau Shepell and we are confident that under the leadership of the executive team, we will chart the course for the next 50 years."
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:
- Jill Denham: 94.80 per cent
- Ron Lalonde: 99.92 per cent
- Diane MacDiarmid: 99.95 per cent
- Jack M. Mintz: 99.88 per cent
- W.F. (Frank) Morneau Sr.: 99.94 per cent
- Dale R. Ponder: 99.94 per cent
- John Rogers: 99.92 per cent
- Kevin Pennington: 99.94 per cent
- Alan Torrie: 99.94 per cent
KPMG LLP was reappointed as the auditors of the Company.
The recorded webcast of the meeting is also available at the Investors section of morneaushepell.com.
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, 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 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.
SOURCE Morneau Shepell Inc.
For further information: Nathan Gibson, Morneau Shepell, 416-390-2641, [email protected]