Archived - Minister of Finance Announces Appointment to the Canada Pension Plan Investment Board
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Minister congratulates Tahira Hassan on her appointment
February 11, 2015 – Ottawa, Ontario – Department of Finance
Finance Minister Joe Oliver today announced the appointment Ms. Tahira Hassan to the Board of Directors of the Canada Pension Plan Investment Board (CPPIB).
Her appointment to the Board of Directors is for a three-year term.
Ms. Hassan is currently a non-executive Director with both Brambles Limited and Recall Holdings Limited.
- The CPPIB is a professional investment management organization that invests the assets of the Canada Pension Plan (CPP) not currently needed to pay pension, disability and survivor benefits.
- The CPP Fund ended its fiscal year on March 31, 2014, with net assets of $219.1 billion, compared with $183.3 billion at the end of the 2013 fiscal year. The portfolio delivered a gross investment return of 16.5 per cent for fiscal year 2014.
- In the most recent triennial review released in December 2013, the Chief Actuary of Canada reaffirmed that, as of December 2012, the CPP remains sustainable at the current contribution rate of 9.9 per cent throughout the 75-year period of his report.
- Operating at arm’s length from government, the CPPIB is responsible for prudently investing CPP investment funds in a diversified portfolio of assets to serve the best interests of CPP contributors and beneficiaries. Directors of the CPPIB are selected by the federal government, in consultation with participating provincial governments, from a list of qualified candidates submitted by a joint federal-provincial nominating committee.
“I am pleased to announce the appointment of Tahira Hassan to the CPPIB. I would like to congratulate her on this prestigious appointment. I am confident that her vast experience in management and operations and her international experience will greatly benefit the Board.”
- Joe Oliver, Minister of Finance
Office of the Minister of Finance
Department of Finance
Tahira Hassan is a non-executive Director serving on the Boards of Brambles Limited and Recall Holdings Limited.
Ms. Hassan held various executive leadership roles with Nestlé for over 26 years, including Senior Vice President & Head of Global Supply Chain, Global Business Head for Nescafé Ready to Drink and President of Ice Cream in Canada. Throughout her international career, Ms. Hassan has also held positions on several management and joint venture boards, as well as with industry associations such as the Food & Consumer Products Manufacturers of Canada and GS1. She also served on the Dean’s advisory council of the Laurier School of Business & Economics at Wilfrid Laurier University.
Ms. Hassan is a Certified Management Accountant of Canada and a Fellow of the Chartered Institute of Management Accountants in the United Kingdom.