BURNABY, BC, Nov. 1 /CNW/ - Terasen Inc. (TSX:FTS) today announced its
newly formed Board of Directors.
"To be successful, a utility must be operated and managed in the
community it serves," says Stan Marshall, President and Chief Executive
Officer, Fortis Inc. "The establishment of the Terasen Board of Directors
completes a significant step as planned when Fortis announced its acquisition
of Terasen last May. Like all of our utilities, Terasen operates as a
stand-alone company with its own Board of Directors who will provide oversight
to the company as it remains focused on meeting the needs of its customers,"
Board members will be directors for both Terasen Inc. and Terasen Gas
Inc. Terasen Inc. is the parent company of the Terasen Gas companies, which
deliver natural gas and propane safely and reliably to more than 900,000 homes
and businesses in B.C., representing 95 per cent of all natural gas customers
in the province, and Terasen Energy Services, an emerging company focused on
integrating alternative energy into district energy systems.
"We are fortunate to have this calibre of talent on our boards. We look
forward to working with the board members and the tremendous contribution they
will make to Terasen through their collective expertise and regional
perspectives," said Randy Jespersen, President and CEO of Terasen Inc.
Newly appointed directors include:
- Harold Calla - is the Chair of the First Nations Financial Management
Board and a member of the Squamish Nation.
- Ida J. Goodreau - is the President and CEO of the Vancouver Coastal
- Harry McWatters - is the founder and President of the Sumac Ridge
Estate Wine Group, and is a leader in the British Columbia wine
- Linda S. Petch - is the President of Petch & Associates Management
Consultants Ltd., which provides governance and accountability
framework services to Boards.
- David R. Podmore - is the President and CEO of Concert Properties
Ltd., a national real estate enterprise.
The newly appointed members join board members appointed from within the
Fortis Inc. group of companies, including:
- H. Stanley Marshall (Chairman) - is the President and CEO of Fortis
- R.L. (Randy) Jespersen - is the President and CEO of Terasen Inc. and
the Terasen Gas group of companies.
- Barry V. Perry - is the Vice President, Finance and CFO of Fortis
- John Walker - is the President and CEO of FortisBC Inc.
Terasen Inc. is a Canadian corporation headquartered in British Columbia
and the parent company of the Terasen Gas companies, the principal natural gas
distributor in the province of British Columbia. Terasen Inc. is a direct,
wholly-owned subsidiary of Fortis Inc. Fortis Inc., the largest investor-owned
distribution utility in Canada, serves almost two million gas and electric
customers and has approximately $10 billion of assets. Its regulated holdings
include Terasen Gas and electric utilities in five Canadian provinces and
three Caribbean countries. Fortis Inc. owns non-regulated hydroelectric
generation assets across Canada and in Belize and upper New York State. It
also owns hotels and commercial real estate in Canada. Fortis Inc. shares are
listed on the Toronto Stock Exchange and trade under the symbol FTS.
Additional information can be accessed at www.fortisinc.com or www.sedar.com.
Backgrounder with detailed director biographies attached.
Terasen Inc. Board of Directors
Harold Calla - is a member of the Squamish Nation and has served two
terms on its Council. Since 1986 he has worked with the Squamish Nation
representing its interests in commercial business, economic development and
accommodation negotiations. Mr. Calla is on the Board of Directors of
Partnerships B.C. and of Canada Mortgage and Housing Corporation, as well as
serving as Chair of the First Nations Financial Management Board. In 2005, he
was awarded the Aboriginal Financial Officers Association of Canada and Xerox
Canada Ltd. National Award for Excellence in Leadership. He lives in North
Ida J. Goodreau - is the President and Chief Executive Officer of the
Vancouver Coastal Health Authority. She previously held executive positions in
both the forestry and natural gas sectors in Canada and internationally. Ms.
Goodreau currently serves on the Board of Directors of the Vancouver Board of
Trade and serves as Chair of the Western Canada Health CEO Forum. She
previously served on the Boards of Terasen Inc. and Shell Canada. She lives in
Harry McWatters - is the founder and President of the Sumac Ridge Estate
Wine Group, and a leader in the British Columbia wine industry. He is
President of Black Sage Vineyards Ltd., Hawthorne Mountain Vineyards Limited,
and Okanagan Estate Wine Cellars Ltd. and is responsible for government and
industry relations in Western Canada for Vincor Canada. He has served on
FortisBC's Board of Directors since 2005, serving as Chairman since 2006. Mr.
McWatters joined the Fortis Inc. Board in 2007. In 2003, he was awarded the
Order of British Columbia, for outstanding achievement. He lives in
Linda S. Petch - is the President of Petch & Associates Management
Consultants Ltd., a company providing governance and accountability framework
services to Boards. She is a member of the Board of Governors of RBC Mutual
Funds and RBC Private Pools and serves on the Board of Directors of the
Vancouver Island Health Authority and of the Health Employers Association of
B.C. Ms. Petch is a recipient of the Queen's Jubilee Medal, the YWCA of
Victoria Women of Distinction Award, and the MBA Mentor of the Year Award from
the University of Victoria Faculty of Business. She lives in Victoria.
David R. Podmore - is the President and Chief Executive Officer of
Concert Properties Ltd., an award-winning national real estate enterprise that
he co-founded in 1989. Under Mr. Podmore's leadership, the company has
undertaken numerous diverse initiatives to build better communities and
contribute to the availability of skilled, well-trained trades people. Mr.
Podmore is the Chair of the Vancouver Convention Centre Expansion Project and
Chair of the BC Pavilion Corporation. He is also Vice Chair of the British
Columbia Institute of Technology Foundation, and past president of the Urban
Development Institute of BC. He is the first recipient of the Award of
Excellence established by the Real Estate Institute of BC. He lives in
The newly appointed members join the existing Terasen Inc. board members
appointed from within the Fortis Inc. group of companies. Existing members
H. Stanley Marshall (Chairman) - is the President and Chief Executive
Officer of Fortis Inc., serving in this role since 1995. He is a member of the
Law Society of Newfoundland and a Registered Professional Engineer. Mr.
Marshall serves on the Boards of all Fortis companies and is a Director of
Toromont Industries Ltd. He lives in St. John's, Newfoundland.
R.L. (Randy) Jespersen - is the President and Chief Executive Officer of
Terasen Inc. and the Terasen Gas group of companies. He has been with Terasen
Gas Inc. since March 1996. Previously, Mr. Jespersen spent 20 years in various
management positions with Amoco and Dome Petroleum. Mr. Jespersen serves on
the board of FortisBC Inc., is Chair of the Board of the Canadian Gas
Association, and a former Chair of the Western Energy Institute. He lives in
Barry V. Perry - is the Vice President, Finance and Chief Financial
Officer of Fortis Inc. He served in this position since 2004. Prior to his
current position at Fortis, he held the position of Vice President, Finance
and Chief Financial Officer of Newfoundland Power Inc. Mr. Perry also serves
on the Boards of FortisAlberta Inc. and FortisBC Inc. He lives in St. John's,
John Walker - is the President and CEO of FortisBC Inc. He has worked
with the Fortis group of companies since 1983, where he began his career with
Newfoundland Power Inc. He is a member of several boards within the Fortis
group of companies, including FortisBC Inc., FortisAlberta Inc. and
Newfoundland Power Inc. He lives in Kelowna.
For further information:
For further information: Media contact: Joyce Wagenaar, Corporate
Communications Manager, Phone: (604) 592-7682, E-mail: