The government has appointed Janice Fukakusa as the inaugural chair of the board of the Canada Infrastructure Bank.
Fukakusa is a corporate director and former chief administrative officer and chief financial officer of Royal Bank of Canada, from which she retired in January 2017. She currently serves on the boards of a number of corporate and not-for-profit organizations, including Cineplex Odeon Corp., General Growth Properties Inc., the Princess Margaret Cancer Foundation and Wellspring Cancer Support Foundation. She also serves as the chair of Ryerson University’s board of directors.
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In the coming months, the federal government will finalize the selection for the infrastructure bank’s board of directors and chief executive officer, according to a press release. Fukakusa will play a key role in these selection processes and the continued development of the Canada Infrastructure Bank, including establishing the governance and oversight that will enable it to successfully deliver on its mandate.
In its 2017 budget, the government said the infrastructure bank would be operational by late 2017. It noted the bank will invest $35 billion over 11 years in infrastructure planning and funding and will bring together investment partners from various levels of government as well as the private sector.
“Today’s announcement is another step forward in fulfilling our commitment to have the Canada Infrastructure Bank operational by the end of 2017,” said Amarjeet Sohi, the minister of infrastructure and communities.
“Janice Fukakusa has extensive experience and an established reputation within the financial services sector, and I am confident that her leadership will ensure that the bank delivers on its ambitious mandate.”
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