The following are brief profiles of the Board of Directors and executive officers of Morneau Shepell:

Jill Denham

Gillian (Jill) Denham is a corporate director and currently serves on the board of directors of Canadian Pacific Railway Limited, Kinaxis Inc. and National Bank. She is also the chair of Munich Reinsurance Company of Canada and Temple Insurance Company (both private companies). Ms Denham is a board member and chair of the Investment Committee of CAMH (Centre for Addiction and Mental Health). Ms Denham spent her career at Wood Gundy and CIBC. She has held senior positions in investment banking, was President of Merchant Banking / Private Equity and had regional responsibility for CIBC in Europe. She was also head of the Retail Bank for CIBC. She holds an Honours Business Administration (HBA) degree from the Ivey Business School, the University of Western Ontario and an MBA from Harvard Business School.

Luc Bachand

Luc Bachand is a corporate director and currently sits on the boards of Cominar Real Estate Investment Trust, the École des Hautes Études Commerciales, the Fondation Jeunes en Tête, the Institute of Corporate Directors of Canada and the J. Armand Bombardier Foundation. Mr. Bachand was Vice-Chairman and the Head of BMO Capital Markets in Québec from 2006 until his retirement in 2016. Mr. Bachand joined BMO Financial Group in 1983 where he held several positions within the Capital Markets Group. He holds a Bachelor’s degree in Business Administration from the École des Hautes Études Commerciales (HEC) and a Master’s degree in Business Administration (MBA) from Concordia University. He is a Fellow of the Institute of Canadian Bankers and has obtained the ICD.D designation.

Kish Kapoor

Kish Kapoor is a corporate director and currently serves on the boards EQ Bank, Richardson Financial Group Limited, Richardson GMP and GMP Capital Inc. Mr. Kapoor is the former President of Wellington West Holdings Inc., a full service brokerage, capital markets, asset management and financial planning services firm. He was one of the founders of Assante Corporation, one of Canada’s largest wealth management firms. Mr. Kapoor also served on the Board of Directors of Manitoba Telecom Services Inc. until March 2017, and Medicure Inc. until 2008. He has a Bachelor of Science from the University of Manitoba and is a Chartered Professional Accountant and former tax partner with KPMG LLP.

Ron Lalonde

Ron Lalonde is a corporate director. Prior to his retirement in 2010, Mr. Lalonde was Senior Executive Vice President, Technology & Operations at CIBC. Prior to this, Mr. Lalonde was the Chief Administrative Officer of CIBC, with responsibility for finance, legal, compliance, human resources, marketing and other support functions. Mr. Lalonde also held senior executive positions in London, England and New York. Mr. Lalonde currently serves as a director of Street Capital Group Inc. and is as a Commissioner on the Board of the Toronto Transit Commission. Mr. Lalonde holds a BA from Western University and an MBA from the Ivey Business School.

Stephen Liptrap

Stephen Liptrap is President and Chief Executive Officer of Morneau Shepell. Mr. Liptrap first joined the Company’s senior executive team in 2008, bringing with him more than 25 years of senior executive experience in the high tech, consumer packaged goods and retail sectors. In 2010, he was appointed Executive Vice President and General Manager of Morneau Shepell’s largest business unit, Employee Support Solutions. Then in July 2016, Mr. Liptrap was appointed Chief Operating Officer, responsible for leading the Company’s business operations and functions. Mr. Liptrap is a member of the Business Council of Canada, and a member of the National Committee for CAMH’s 150 Leading Canadians for Mental Health. He has served on the HR Committee for the 2015 PanAm Games, the Canadian Board of Directors for NCR and the Pension Board for Europe for a large technology company. He is a frequent speaker and thought leader on HR issues facing organizations today. Mr. Liptrap holds an Honours Business Administration degree from the Ivey Business School (University of Western Ontario), is a recent graduate of the Harvard Advanced Management Program and is a Certified Human Resources Executive (CHRE).


Jack M. Mintz

Jack Mintz is the President’s Fellow of the School of Public Policy at the University of Calgary after serving as its founding director until July 1, 2015. Dr. Mintz also serves as the National Policy Advisor for EY since July 2015. He presently serves on several boards including Imperial Oil Limited and Chair of the Social Sciences and Humanities Research Council of Canada. Dr. Mintz also served as a director and the past audit chair for Brookfield Asset Management and CHC Helicopter. He has been appointed to lead or participate in several government panels over the years including the Federal Technical Committee on Business Taxation 1996-7, the Federal Minister of Health and Innovation panel 2014-2015, and research director for the Federal-Provincial Territorial Minister’s Working Group on Retirement Income Research in 2009. In 2015, he was appointed as a member of the Order of Canada.

Kevin Pennington

Kevin Pennington is currently the Special Advisor to the CEO of Fiserv, Inc., after serving five years as the Chief Human Resources Officer (CHRO) of Fiserv a leading global technology provider for the financial services industry. Throughout his more than 37-year career, Mr. Pennington has held increasingly senior human resources roles in both the United States and Canada having served as a CHRO for 27 years. He served as Executive Vice President, CHRO and Administration with Agere Systems Inc., a semi-conductor company spun off from Lucent Technologies, from 2001 to 2005, followed by six years as Executive Vice President, CHRO with Toronto-based Rogers Communications Inc. Mr. Pennington holds a BSc degree in Behavioural Science / Management and an MSc degree in Counselling, both from Shippensburg University of Pennsylvania.

Dale R. Ponder

Dale Ponder is the National Co-Chair of Osler, Hoskin & Harcourt LLP and also serves on the firm’s Partnership Board. She is the immediate past Managing Partner and Chief Executive of Osler, a position she held for nine years. As a senior member of the firm’s Mergers and Acquisitions practice, she has had extensive experience throughout her career leading transactions relating to public and private merger and acquisition matters and advising boards of public companies. Ms. Ponder’s practice background has focused on M&A, securities regulation and corporate governance. In the course of her practice, she was inducted into the WXN Top 100 Most Powerful Women Hall of Fame and has been recognized as a leading corporate and M&A lawyer by various peer ranking publications, including Chambers Global: The World’s Leading Lawyers for Business, the Lexpert / American Lawyer Guide to the Leading 500 Lawyers in Canada, Lexpert’s Leading Corporate Lawyers and Best Lawyers in Canada. Ms. Ponder serves on the board and is the Chair of the Governance and Compensation Committee of the Canadian Real Estate Investment Trust and is Chair of the Canadian Business Growth Fund. She is also a member of the Advisory Board of Canada’s Top 40 Under 40, the Governors’ Council of St. Michael’s Hospital Foundation and the CGCA Advisory Board, and is a mentor in the Women’s Executive Network.

Michele Trogni

Michele Trogni is a corporate director. Until May 2017, she was Executive Vice President of Consolidated Markets and Solutions for IHS Markit. In this role Ms Trogni was responsible for all Markit’s Managed Services businesses, along with Product Design & Engineering, and Technology, Media & Telecoms. Prior to joining Markit in 2013, Ms Trogni had more than 25 years of experience in banking, most recently acting as Group Chief Information Officer for UBS and, prior to that, as head of UBS investment bank operations. She holds a BA (Hons) in Accounting from Northumbria University and is a qualified accountant (ACCA).