CPAB’s Board of Directors has overall responsibility for supervising the management of CPAB's activities and affairs.
The Board has nine directors, all appointed by the Council of Governors. At least four, but no more than five of the directors, must be professional accountants to ensure the Board has directors with accounting expertise. At least two directors must have regulatory experience or regulatory/audit oversight experience.
Although CPAB’s By-Laws specify that directors are reappointed annually by the Council of Governors, CPAB has a policy that individual directors are appointed up to a maximum of nine years, subject to annual reappointment by the Council of Governors, unless CPAB has recommended the extension of the appointment, limited to one, one-year term.
Benita Warmbold is the past Senior Managing Director and Chief Financial Officer at the Canada Pension Plan Investment Board (CPP Investment Board) where she spent nine years. Prior to joining CPP Investment Board she held senior positions with Northwater Capital Management Inc. and Canada Development Investment Corporation. Warmbold, a chartered professional accountant, is active on several boards, including Bank of Nova Scotia, SNC-Lavalin, Methanex Corporation, Crestone Peak Resources and Queen’s University Board of Trustees. A Fellow of the Institute of Chartered Accountants of Ontario and ICD.D, she is also a WXN Hall of Fame inductee. Warmbold lives in Toronto, Ontario.
Sheryl Kennedy is the Chair of Promontory Financial Group Canada, an IBM Company. Promontory is a global consulting firm to the financial services industry that provides strategy, risk management and regulatory advice. Kennedy was the Deputy Governor of the Bank of Canada from 1994 to 2008 and chaired the Markets Committee at the Bank for International Settlements in Basel, Switzerland from 2003 to 2006. She served as Senior Advisor for International Strategy for Scotiabank in 2006. Prior to her time with the Bank of Canada, Kennedy worked in the federal Department of Finance and served as Finance Counsellor at the Canadian Embassy in Paris, France. She also serves on the University of Waterloo Board of Governors and its Audit and Risk and Financial Investment Committees, is a Trustee of the Anglican Church of Canada General Synod Pension Plan and is Vice Chair of the Mothers Matter Centre, proud home of the HIPPY Program in Canada. Kennedy lives in Toronto, Ontario.
Ian Bourne was the Chair of Ballard Power Systems Inc. He was a Director of the Canada Pension Plan Investment Board and Hydro One Ltd. He has served on the boards of Canadian Oil Sands, Wajax Corporation and a number of not-for-profit organizations. Bourne acted as Chair of SNC-Lavalin Group from 2013 to 2015 and interim CEO of SNC-Lavalin during 2012. He is a former Executive Vice President and Chief Financial Officer of TransAlta Corporation. Prior to this, he held a number of senior management positions with General Electric and Canada Post Corporation. Bourne was recognized as a Fellow of the Institute of Corporate Directors in 2011. Bourne is a member of CPAB’s Human Resources and Governance Committee and lives in Calgary, Alberta.
Julie Dickson is a former Superintendent of Financial Institutions of Canada and member of the Financial Stability Board in Basel, Switzerland. She was formerly a Director of the Canada Deposit Insurance Corporation, the Toronto Leadership Center, a member of the Basel Committee on Banking Supervision and a member of the Supervisory Board of the European Central Bank from 2014-2017. Dickson is a recipient and Member of the Order of Canada, having been recognized for her work related to financial supervision and regulation in Canada and globally. She is currently a member of the Board of the Dubai Financial Services Authority. Dickson is a member of CPAB’s Risk and Audit Committee and lives in Ottawa, Ontario.
Sheila Fraser, a chartered professional accountant, was the Auditor General of Canada from 2001-2011 and the first woman to serve in this role. She was appointed as an Officer of the Order of Canada in 2018. In 2009, Fraser received the Award of Outstanding Merit, the highest honor bestowed by Ontario’s Institute of Chartered Accountants. She serves on the Board of Directors of Manulife Financial Corporation, IISD Experimental Lakes Area Inc. and IFAC, and is a Trustee and Vice Chair of the IFRS Foundation. Fraser lives in Ottawa, Ontario.
Guy Fréchette is a former Vice Chair and member of the Executive Committee at Ernst & Young LLP and was Managing Partner for the Province of Québec until 2008. He sits on several boards, including the Montréal Symphony Orchestra Endowment Fund Board, where he chairs the Audit Committee. Fréchette was a board member of HEC-Montreal from 1999 to 2015 and he chaired the Audit Committee for that period. In 2012 he was appointed Chair of the Board of HEC-Montreal Foundation. He serves on the Boards of CEPSUM of Montréal University. He is past President of the Foundation for Mental Illness (Québec) Inc. and is a past President and Chair of the Board for the Montréal Board of Trade. Fréchette also sits on the Board of Otera Capital, a subsidiary of the Caisse de Depot du Québec, where he chairs the Human Resources Committee and sits on the Audit Committee. Fréchette is a member of CPAB’s Risk and Audit Committee and lives in Montréal, Québec.
Bruce Jenkins retired as Deputy Chief Executive of Deloitte & Touche (Canada) in 2009. During his career he was also a member of the firm's Executive Committee and Board of Directors. Jenkins is also a past member of the Board of Directors of CPA Canada and a past Chair of CPA Ontario. He was recognized as a Fellow of that Institute in 1991. Jenkins has also chaired the Board of the Oakville Centre for the Performing Arts and been a board member of Junior Achievement of Canada and Big Brothers and Sisters of Canada. Jenkins is Chair of CPAB's Risk and Audit Committee and lives in Toronto, Ontario.
Kevin Kelly has served on the Board of Directors of The Canadian Imperial Bank of Commerce since 2013. He has also served on both the Risk and Audit Committees of the bank. Kelly was Lead Director of the Ontario Securities Commission from 2010 to 2012 and Commissioner from 2006 to 2010. He has more than 30 years’ experience in wealth and asset management in both Canada and the US. Kelly was President and Co-Chief Executive Officer of Wellington West Capital from 2004 to 2005, President of Fidelity Brokerage Company from 2000 to 2003, President of Fidelity Investments Institutional Services from 1997 to 2000, President of Fidelity Canada from 1996 to 1997 and President of Bimcor Inc. from 1992 to 1996. He is a past director and Chair of the Foundation For Educational Exchange Between Canada and the United States of America (Fulbright Canada). Kelly lives in Toronto, Ontario.
Alice Laberge is currently a Director of the Royal Bank of Canada, Nutrien Ltd., Russel Metals Inc. and the BC Cancer Foundation. She previously was on other boards in a wide range of organizations including crown corporations, universities and not-for-profit organizations. Laberge is formerly the President and Chief Executive Officer and prior to that Chief Financial Officer of Fincentric Corporation. Prior to this, she held a number of senior management positions with MacMillan Bloedel Limited, including Chief Financial Officer. Laberge was recognized as a Fellow of the Institute of Corporate Directors in 2015. Laberge is Chair of CPAB’s Human Resources and Governance Committee and lives in Vancouver, British Columbia.