In accordance with the Canada Mortgage and Housing Act, the Board of
Directors is responsible for managing the affairs of the Corporation and the
conduct of its business. The Board is comprised of eleven members, including
the Chair, and the President and Chief Executive Officer; the Deputy Minister
of the Minister for CMHC; and the Deputy Minister of Finance.
Derek Ballantyne
Chair
Derek Ballantyne was appointed as Chair of Canada Mortgage and Housing
Corporation’s Board of Directors in April 2018.
Mr. Ballantyne brings extensive experience in the development and management
of housing, as well as the development of financial models for housing
development and operations and innovative approaches to attract new sources of
capital to housing.
With more than 20 years of experience in the management of large and mid-size
housing organizations, he brings broad knowledge of the complex public and
private environments and a comprehensive knowledge of housing, real
estate management and development sectors. He also brings deep knowledge of
the non-profit, charitable, social entrepreneurship, cooperative and
foundation sectors at the local, provincial and federal levels.
Mr. Ballantyne was Chief Operating Officer of Build Toronto, where he assisted
in the establishment of the corporation, development of the first business
plan, and execution of several large transactions and development initiatives.
He also served as Chief Executive Officer of Toronto Community Housing, a
large rental housing provider, with over $6 billion in real estate assets in
Toronto. He led organizational and financial restructuring of the company, and
the recapitalization and redevelopment of a significant portion of the
portfolio (including the Regent Park community) as well as the
commercialization of non-core functions. He is currently CEO for Encasa
Financial Inc., a multi-fund provider and a partner in
New Market Funds, an innovative platform that develops and
manages impact investment products.
Romy Bowers
President and CEO
Romy Bowers was appointed President and Chief Executive Officer of Canada
Mortgage and Housing Corporation in April 2021. She leads a team of housing
experts who share a single goal: that “By 2030, everyone in Canada will
have a home that they can afford and that meets their needs.” As
CEO, Ms. Bowers believes CMHC can be a catalyst for solving housing
affordability challenges and a leader in building a housing system that is
equitable and free of systemic racism.
Ms. Bowers joined CMHC in 2015 as the company’s Chief Risk Officer.
She has also served as CMHC’s Chief Commercial Officer and most recently
was Senior Vice-President of Client Solutions, where she led a team that
brings together the expertise of CMHC’s commercial and assisted housing
businesses to better understand the housing needs of Canadians and develop new
client-focused products and services to meet those needs.
Prior to joining CMHC, Ms. Bowers had a diverse career in the Canadian
banking industry, including 12 years with the Bank of Montreal, where she
gained extensive experience in treasury operations and risk
management.
Ms. Bowers received an M.A. in Business Administration (Finance)
from the University of Toronto and an M.A. in Arts from McGill
University.
Graham Flack (ex-officio)
Deputy Minister of Employment and Social Development
In October 2018, Graham Flack assumed the position of Deputy Minister of
Employment and Social Development. He is also the founding chair of the Deputy
Minister committee on Policy Innovation and Deputy Minister Champion for
Dalhousie University.
Mr. Flack was the Deputy Minister of Canadian Heritage from 2014 to 2018.
Previously (2010 to 2013), he was the Associate Deputy Minister and then
Acting Deputy Minister at Public Safety Canada.
With more than 20 years of experience, Mr. Flack held a variety of roles at
Natural Resources Canada, the Department of Finance and the Privy Council
Office.
Mr. Flack holds degrees in political science and economics from Dalhousie and
Oxford University where he was a Rhodes Scholar. He is a former law clerk of
the Supreme Court of Canada and graduated with an LL.B. from Dalhousie
University and an LL.M. from Harvard University.
Michael Sabia (ex-officio)
Deputy Minister of the Department of Finance
Michael Sabia was appointed the Deputy Minister of the Department of Finance
Canada as of December 14, 2020.
Mr. Sabia was previously appointed Chair of the Board of the Canada
Infrastructure Bank in April 2020. He was named Director of the University of
Toronto’s Munk School of Global Affairs and Public Policy in February
2020.
Mr. Sabia brings a wealth of experience in the public and private sectors to
his new role at Finance Canada. He has been President and Chief Executive
Officer of la Caisse de dépôt et placement du Québec
(CDPQ) – a role he served in from 2009 until 2020. During his tenure, he
led the rebuilding of CDPQ into a global financial institution.
Prior to joining CDPQ, Mr. Sabia was CEO of Bell Canada Enterprises and CFO of
Canadian National Railway. He began his career in the federal Public Service,
serving principally in the Department of Finance and the Privy Council Office,
where he was Deputy Secretary to the Cabinet (Plans).
In addition to serving on government advisory groups in Canada, he has also
participated in a number of international initiatives, including the United
Nations Net Zero Alliance and as co-chair of the World Economic Forum’s
working group on infrastructure and development. During Canada’s
presidency of the G7 in 2018, he co-chaired the Investor Leadership Network on
Climate Change, Diversity and Infrastructure Development.
In 2017, he was named an Officer of the Order of Canada.
Mr. Sabia was educated at the University of Toronto (B.A.) and at Yale
University (M.Phil).
Navjeet (Bob) Dhillon
Member of the Board of Directors
Navjeet (Bob) Dhillon was appointed to the Board of Directors of Canada
Mortgage and Housing Corporation in February 2015.
Mr. Dhillon is the founder, President & CEO of Mainstreet Equity Corp., a
Calgary-based publicly traded company listed on the Toronto Stock exchange
that acquires underperforming assets (low rent rental-apartments), clusters
them into apartment complexes, and upgrades them to mid-market rental units.
Mr. Dhillon has more than two decades of experience in acquiring and
repositioning all types of properties.
He is also founder, owner & President of Pan Pacific Mercantile Group, an
international trading and export company focused on real estate development in
emerging markets such as Belize and India, and founder and co-owner of
National Payments, a point of sale payment solutions organization for small
business merchants.
Bob holds an MBA from the Richard Ivey School of Business at the University of
Western Ontario. He is the Honorary Consul General for Belize in Canada.
Janice Abbott
Member of the Board of Directors
Janice Abbott was re-appointed to the Board of Directors of Canada Mortgage
and Housing Corporation in December 2020.
Ms. Abbott has been the CEO of Atira Women's Resource Society since 1992.
She has lead the Society through its growth from a single transition house
located in South Surrey with a staff of seven to a large multi-service agency
with two, for-profit subsidiaries, a development arm and more than
500 staff. She has led numerous innovative capital projects including
Canada’s first multi-unit recycled shipping container housing
development, which was completed in August 2013 and Olivia Skye, a
198-unit mixed income rental building built in partnership with a large
Vancouver development firm and opening in January 2018.
She was recognized by Vancouver Magazine on its Power 50 list in November
2017, BC Business Magazine as among one of BC's 35 Most Influential Women
in 2016 and BC’s Most Influential Women in Not-for-Profit, Culture
& Media in 2015.
Linda Morris
Member of the Board of Directors
Linda Morris was appointed to the Board of Directors of Canada Mortgage and
Housing Corporation in December 2017.
Ms. Morris served as Senior Vice-President of Business Development,
Member and Community Engagement at Vancity, from 2011 to 2017. She was
responsible for engaging and growing the credit union’s membership
through its member experience, products and services, and commitment to
communities.
Previously, she was the CEO of the Canadian Breast Cancer Foundation,
BC/Yukon; prior to this she was Deputy Minister in the Public Affairs Bureau
for the Government of BC, Vice President, and Communications & Community
Engagement for Vancouver Coastal Health, and Director of Public Affairs for
the Vancouver Port Authority.
Anne Giardini
Member of the Board of Directors
Anne Giardini was appointed to the Board of Directors of Canada Mortgage and
Housing Corporation in January 2018.
An executive, lawyer, director and writer, Ms. Giardini, O.C., Q.C. was
president of Weyerhaeuser Company Limited from 2008 to 2014 after
serving as Weyerhaeuser's General Counsel. A long-time leader within
Canada’s resource industry, she has served on many related boards
including B.C.’s Council of Forest Industries, the Alberta Forest
Products Association, the Forest Products Association of Canada, and
Sustainable Forestry Initiative, Inc.
In 2014 and again in 2016, Ms. Giardini was recognized by WXN as one
of Canada's 100 most powerful women. In 2015, she received a Western
Canada General Counsel Lifetime Achievement Award. In 2016, she was appointed
Officer of the Order of Canada for her contributions to the forestry sector,
higher education and the literary community.
Ms. Giardini served on Simon Fraser University's Board of Governors for
five years before being appointed Chancellor in 2014.
Gordon J. Laing
Member of the Board of Directors
Gordon J. Laing was appointed to the Board of Directors of Canada Mortgage and
Housing Corporation in December 2018.
Mr. Laing is the President and CEO of Southwest Properties Limited, a leading
developer of residential and commercial property in Atlantic Canada, where he
started as a Chief Operating Officer in 2006. He was named one of Atlantic
Canada’s Top 50 CEOs for the fourth time in 2012. Southwest earned
Platinum Member status of Canada’s Best Managed Companies after
maintaining Best Managed status for seven years.
Mr. Laing holds a Bachelor of Business Administration from Acadia University
in Wolfville, Nova Scotia. He is a Chartered Professional Accountant and was
designated in 2006 a Fellow of the Society of Management Accountants of Canada
— an honorary title for his outstanding achievements.
André Hébert
Member of the Board of Directors
André Hébert was appointed to the Board of Directors of Canada Mortgage and
Housing Corporation in February 2019.
Mr. Hébert is Head of Technology at Air Canada Vacations, where he is
responsible for all strategic and operational aspects of technology for the
business. He brings to CMHC’s board more than 35 years of hands-on
experience in large IT transformation projects, as well as unique operational
and strategic insights in this complex and ever-evolving field.
A seasoned CIO with a strong business background, Mr. Hébert has led
the implementation of a number of global IT strategies and systems to achieve
corporate objectives.
Mr. Hébert started his career with Unisys Canada (Sperry) and
subsequently held a number of senior IT positions, including at Air Canada,
Aeroplan, Aimia and recently returned at Air Canada. He holds a
Bachelor’s degree in Management and an MBA from École des Hautes
Études Commerciales in Montréal.
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