John Manley, Deputy Prime Minister and Minister of Finance, today announced two appointments to the board of directors of the Canada Pension Plan Investment Board.

Germaine Gibara of Montreal, and Ronald Smith of Dartmouth, Nova Scotia, have been appointed to the board. Both appointees have extensive business experience and are active in public service at both the local and national level.

Gibara is currently the president and CEO of Avvio Management Inc., a management-consulting firm she founded, which specializes in strategic planning and the commercialization of technology. She has held senior positions with a number of financial service and resource-based companies, including the Caisse de dépôt et placement du Québec, TAL Global Asset Management Inc and Alcan Aluminium Ltd.

Smith his former CFO with Aliant Telecom Inc. and now serves as senior vice president and CFO of Emera Inc., a Halifax-based energy company.

“I would like to congratulate Ms. Gibara and Mr. Smith on their appointments and wish them well in their work as directors,” Minister Manley said. “I am confident that their strong business backgrounds and sound knowledge of financial issues will make them valued members of the CPPIB’s board.”

The directors were appointed by the federal government based on a recommendation from the Minister of Finance, following consultations with his counterparts in the participating provinces. Prior to making his recommendation, the Minister reviewed a list of qualified candidates provided by a joint federal-provincial nominating committee, led by Michael Phelps, chairman of Dornoch Capital, and formerly chairman and CEO of Westcoast Energy Inc.