Untangling The Web of Canadian Business Leaders

Have you ever wondered who really runs the show when it comes to the top Canadian publicly traded companies? Yes, of course it’s the CEO, but in many instances they have their hands in overseeing several other top Canadian businesses, serving as independent directors of other companies or as the Chairman of the Board of their own company as well.

I began to think, who is the one person with the most influence over S&P/TSX Composite companies? What roles do they play? How long have they been in the job? Or as Danny DeVito in The Rainmaker would say:

So you’re the guy, you’re the main guy, you’re the cheese. The buck stops with you.

With my curiosity peaked and coronavirus boredom settling in, I did some sleuthing and came up with a list of Canadian business leaders and director members for the 226 S&P/TSX Composite member companies, along with their positions and length serving in their current capacity with each company.

And the winner is…

Marcel R. Coutu

Mr. Coutu serves as Independent Director at:

  • Great West Lifeco

  • Brookfield Asset Management

  • Enbridge

  • Power of Canada

  • IGM Financial

At 65 years old, Mr. Coutu’s longest appointment has been to Brookfield Asset Management (since 2006) and his most recent appointment was to IGM Financial (since 2014). According to his bio on the Enbridge Corporate website:

Mr. Coutu was the Chairman of Syncrude Canada Ltd. (integrated oil sands project) from 2003 to 2014 and was the President and Chief Executive Officer of Canadian Oil Sands Limited from 2001 until January 2014.

Quite a resume, and it begs the question: does Mr. Coutu follow success, or does success follow him? I don’t think any rational person would really believe that it’s just a coincidence he’s a director of five successful S&P/TSX Companies. In addition and according to Wallmine, Mr. Coutu is also a director at:

  • IG Wealth Management

  • Mackenzie Inc.

  • Calgary Exhibition and Stampede Board

The next well-connected directors are:

  • Gary Albert Doer: Independent Director at Power of Canada, IGM Financial, Great West LifeCo, and Air Canada

  • J. Robert S. Prichard: Independent Director at George Weston, Bank of Montreal, ONEX, and Alamos Gold

  • Paul Desmarais: Senior Vice President and Chairman of the Board at Power of Canada, Independent Director at IGM Financial and Great West Lifeco

Wow, it certainly seems that Power of Canada, IGM Financial, and Great West LifeCo seek out these types of directors. Coincidence, or just the hallmarks of well-run companies? Let me know what you think in the comments!

The ETF Daddy1 Comment