Scotiabank Welcomes Michael D. Penner to Its Board of Directors

TORONTO, June 26, 2017 /CNW/ - Scotiabank (TSX: BNS) (NYSE: BNS) today announced the appointment of Michael D. Penner to the Bank's Board of Directors.

"Michael Penner brings an in-depth knowledge of the small and medium-sized business and energy sectors to our Board as well as a unique combination of leadership experience that spans the public and private sectors in Quebec and across Canada," said Thomas O'Neill, Chairman of the Board of Directors at Scotiabank. "He is well-recognized for his proven ability to lead transformational change, including turning around a manufacturing business in challenging economic times. His business acumen along with his passion for success will be an asset to our Board of Directors."

A lawyer, entrepreneur and chairman, Michael D. Penner was President and Chief Executive Officer of Peds Legwear (Peds) prior to selling his company to Gildan Activewear Inc. (NYSE: GIL) in August 2016. 

In October 2014, Mr. Penner was appointed Chairman of the Board of Directors of Hydro-Québec, Canada's largest electric utility and power generation company and the world's fourth largest hydropower producer. During his tenure Mr. Penner has led the renewal of the governance practices at Hydro- Québec.

Mr. Penner has been active in the community, serving last year as Chair of the Montréal Museum of Fine Arts' annual fundraising activity and in the past as a member of the Board of Directors of Les Grands Ballets Canadiens de Montréal, Selwyn House School, Hofstra University School of Law and McGill University Football.

Mr. Penner holds a Bachelor of Arts degree from McGill University and a Juris Doctor from Hofstra University in New York.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $921 billion (as at April 30, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

For further information: For media enquiries only: Heather Armstrong, Global Communications, PH: (416) 933-3250

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