Nancy Lockhart has been appointed to the board of directors of the Canada Deposit Insurance Corporation (CDIC), Finance Minister Jim Flaherty announced today.

“I am very pleased to appoint someone with such a wealth of business experience and distinguished public service to this board,” said Flaherty.

Lockhart is currently chief administrative officer of Toronto-based property development and management company, Frum Development Group. She was formerly a vice-president of Shoppers Drug Mart Corp and was awarded the Order of Ontario in 2006.

The newest CDIC board member is also a director of Loblaw Companies Ltd., where she is chair of the environmental, health and safety committee and a member of the governance, employee development, nominating and compensation committee. And Lockhart’s other board memberships include the Toronto Community Foundation and the Stratford Chefs School.

Prior to joining CDIC, Lockhart was a trustee of Retirement Residences REIT, where she sat on the audit committee, the governance and nominating committee and the customer care committee. Other positions held include: past chair of the Ontario Science Centre, past president of the Canadian Club of Toronto and past chair of the Canadian Film Centre.