TORONTO, June 5, 2024
/CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the "Company")
announces a new slate of nominees for election to the Company's
Board of Directors at the Company's Annual General Meeting
scheduled for August 9, 2024.
The director nominees are:
- Dan Daviau
- Michael Auerbach
- Shannon Eusey
- Terry Lyons
- Cindy Tripp
As previously announced, current Chairman David Kassie intends to step down following the
Company's upcoming Annual General Meeting. While Mr. Kassie will
not continue in a formal governance role, he will be given the
honourary title of Chairman Emeritus.
"David has been a valued colleague and friend for many years and
a source of wise counsel which has been instrumental in positioning
our Company for long-term success. I will always be grateful for
his dedication and partnership," said Dan
Daviau, President & CEO of Canaccord Genuity Group
Inc.
Current Director Jo-Anne O'Connor
will not seek re-election. Since joining the board in 2022, Joanne
has provided thoughtful perspective grounded in decades of
financial services industry experience. Current Director
Rod Phillips will also not stand for
re-election, as he will continue in his role as Vice Chairman of
the Company's Canadian broker-dealer. Additionally, current
Director Amy Freedman will not stand
for re-election and will focus on other endeavours which align with
her extensive capital markets and governance advisory
expertise.
"Amy, Joanne, and Rod have worked tirelessly on behalf of our
shareholders, particularly under the extenuating circumstances of
the past year. They have served as model directors, upholding
strong governance throughout their respective terms of service,"
said Michael Auerbach, Chair of the
Corporate Governance and Compensation Committee.
The role of Chairman will transition to President & CEO
Dan Daviau, who will continue in his
executive leadership role. The Board believes that the Company's
Chief Executive Officer is best suited to serve as Chairman of the
Board as he is most familiar with the company's history and
business strategy and most capable of leading the discussion and
enhancing the flow of information between management and the Board,
which is essential to effective governance. The combined role
of Chairman and Chief Executive Officer, together with a Lead
Independent Director provides the most appropriate balance of
strategic development and independent oversight to ensure
accountability and sound risk management while operating in the
best interests of shareholders. Michael
Auerbach will assume the role of Lead Independent Director
and Terry Lyons will continue as an
independent director and Chair of the Audit and Risk Committee.
Additional biographical information about Mr. Lyons and Mr.
Auerbach can be found in the Company's Management Information
Circular which is expected to be filed and mailed to shareholders
prior to the end of June.
Two new independent directors are also being nominated for
election at the Annual General Meeting: Shannon Eusey is the Chief Executive Officer of
Beacon Pointe Advisors LLC, one of the largest registered
investment advisory firms in the United
States and will bring outstanding wealth management
experience to the board, and Elizabeth
Cynthia (Cindy) Tripp, former member of the Board of the
Ontario Securities Commission and member of the Ontario
Government's Capital Markets Modernization Taskforce will bring
deep expertise in capital markets and regulatory frameworks.
Additional biographical information about Ms. Eusey and Ms. Tripp
will also be made available in the Company's Management Information
Circular.
The proposed slate of Directors possesses an optimal mix of
experience to guide the long-term strategy and ongoing business
operations of the Company. This smaller, focused Board is expected
to provide greater agility and accountability over strategic
priorities and direction while effectively carrying out fiduciary
duties and other Board responsibilities. The two new independent
director nominees bring an enhanced focus on wealth management and
regulatory affairs. With these changes, the Board will be comprised
of five (5) directors, of which four (4) are independent, with 50%
female representation amongst independent directors.
ABOUT CANACCORD GENUITY GROUP
INC.
Through its principal subsidiaries, Canaccord Genuity Group Inc.
(the "Company") is a leading independent, full-service financial
services firm, with operations in two principal segments of the
securities industry: wealth management and capital markets. Since
its establishment in 1950, the Company has been driven by an
unwavering commitment to building lasting client relationships. We
achieve this by generating value for our individual, institutional
and corporate clients through comprehensive investment solutions,
brokerage services and investment banking services. The Company has
wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of
Man and Australia. The Company's
international capital markets division operates in North America, UK & Europe, Asia,
and Australia.
Canaccord Genuity Group Inc. is publicly traded under the symbol
CF on the TSX.
CAUTION REGARDING FORWARD-LOOKING
STATEMENTS
This press release may contain "forward-looking information" as
defined under applicable securities laws ("forward-looking
statements"). These statements relate to future events or future
performance and reflect management's expectations, beliefs, plans,
estimates, intentions and similar statements concerning anticipated
future events, results, circumstances, performance or expectations
that are not historical facts, including business and economic
conditions and Canaccord Genuity Group's growth, results of
operations, performance and business prospects and opportunities.
Such forward- looking statements reflect management's current
beliefs and are based on information currently available to
management. In some cases, forward-looking statements can be
identified by terminology such as "may", "will", "should",
"expect", "plan", "anticipate", "believe", "estimate", "predict",
"potential", "continue", "target", "intend", "could" or the
negative of these terms or other comparable terminology. By their
very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and a number of factors
could cause actual events or results to differ materially from the
results discussed in the forward-looking statements.
In evaluating these statements, readers should specifically
consider various factors that may cause actual results to differ
materially from any forward-looking statement. These factors
include, but are not limited to, market and general economic
conditions; the length of a regulatory review and approval of the
transaction; ability of the parties to meet closing conditions; the
dynamic nature of the financial services industry;; and the risks
and uncertainties discussed from time to time in the Company's
interim condensed and annual consolidated financial statements, its
annual report and its annual information form ("AIF") filed on
www.sedar.com as well as the factors discussed in the sections
entitled "Risk Management" and "Risk Factors" in the AIF, which
include market, liquidity, credit, operational, legal and
regulatory risks.
Although the forward-looking statements contained in this press
release are based upon assumptions that the Company believes are
reasonable, there can be no assurance that actual results will be
consistent with these forward-looking statements. The
forward-looking statements contained in this press release are made
as of the date of this press release and should not be relied upon
as representing the Company's views as of any date subsequent to
the date of this press release. Except as may be required by
applicable law, the Company does not undertake, and specifically
disclaims, any obligation to update or revise any forward-looking
statements, whether as a result of new information, further
developments or otherwise.
SOURCE Canaccord Genuity Group Inc.
