{"id":19327,"date":"2020-08-21T15:15:36","date_gmt":"2020-08-21T19:15:36","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/omers-sponsors-corp-changing-board-structure-149094"},"modified":"2020-08-21T15:15:36","modified_gmt":"2020-08-21T19:15:36","slug":"omers-sponsors-corp-changing-board-structure","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/08\/21\/omers-sponsors-corp-changing-board-structure\/","title":{"rendered":"OMERS Sponsors Corp. changing board structure"},"content":{"rendered":"
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Staff<\/span> | August 21, 2020 <\/p>\n

The Ontario Municipal Employees Retirement System\u2019s Sponsor Corp. board is changing from a co-chair to a chair and vice-chair system.<\/p>\n

After discussions on changes to the governance model that took place in 2019, the board voted unanimously to elect Frank Ramagnano and Barry Brown as its first chair and vice-chair, respectively, replacing its legacy arrangement, where the employer sponsor group and the employee sponsor group each chose a co-chair.<\/p>\n

\u201cThis good news represents a key evolution for the OMERS governance and decision-making model,\u201d said Michael Rolland, chief executive officer of the OMERS Sponsors Corp., in a press release. \u201cThis change reinforces the [Sponsor Corp.] board\u2019s fiduciary responsibilities, in that both the chair and vice-chair will formally focus on the best interest of OMERS as a whole, rather than being elected to represent the employee and employer groups\u2019 perspectives.<\/p>\n

Read: Ontario Teachers\u2019 invests in supply chain tech, announces CFO to retire<\/a><\/strong><\/p>\n

\u201cFor the first time in its history, the [Sponsor Corp.] board\u2019s leadership has been chosen with the full participation of the entire board. The unanimous support for Frank and Barry underlines their aptitude, experience and close understanding of OMERS.\u201d<\/p>\n

Ramagnano joined the OMERS Sponsors Corp. in 2009, rising to co-chair of the board in 2016. For more than 25 years, he\u2019s been a full-time firefighter and became the president of the Toronto Professional Fire Fighters Association in 2014, before which he served as its secretary-treasurer. He\u2019s also been a board member of the Fire Department Credit Union and the Ontario Professional Fire Fighters Pension Committee.<\/p>\n

Read: Caisse appoints Marc-Andr\u00e9 Blanchard as EVP, head of CDPQ global<\/a><\/strong><\/p>\n

\u201cI am honoured to have been chosen to serve the OMERS Sponsors Corp. in my new role,\u201d he said. \u201cI look forward to working with Barry and our fellow [Sponsors Corp.] board members, our OMERS Administration Corp. colleagues and all OMERS stakeholders to help ensure that, in today\u2019s complex environment, the OMERS pension plan remains affordable, meaningful and sustainable.\u201d<\/p>\n

Meanwhile, Brown was appointed as part of the OMERS Sponsors Corp. in 2015, becoming co-chair in 2019. He\u2019s a retired lawyer who practiced employment and labour law at Hicks Morley Hamilton Stewart Storie LLP until 2014.<\/p>\n

Read: OMERS appointing Ingrid Chingcuanco as VP, pension operations<\/a><\/strong><\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | August 21, 2020 The Ontario Municipal Employees Retirement System\u2019s Sponsor Corp. board is changing from a co-chair to a chair and vice-chair system. After discussions on changes to the governance model that took place...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19327"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19327"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19327\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}