Minister of Finance Announces Appointments to Canada Pension Plan Investment Board
July 12, 2018 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada is committed to appointing highly qualified candidates able to best serve the interests of Canadians, through open, transparent and merit-based selection processes for all Governor-in-Council appointments.
In keeping with this commitment, Finance Minister Bill Morneau today announced the re-appointment of Dr. Heather Munroe-Blum as Chair of the Canada Pension Plan Investment Board (CPPIB) and the appointment of new Board member Charles “Chuck” Magro.
Dr. Heather Munroe-Blum is a distinguished academic administrator and renowned scholar in the fields of psychiatric epidemiology and public policy, and serves as Director and Chair of the Canada Pension Plan Investment Board. She sits on the boards of the Royal Bank of Canada, CGI Group and the Gairdner Foundation, and was the Principal and Vice-Chancellor (President) of McGill University from 2003-2013.
Chuck Magro is President and Chief Executive Officer of Nutrien Ltd. He also plays an active role on the boards of the International Fertilizer Industry Association and the International Plant Nutrition Institute and serves as chair of Canpotex Limited, The Fertilizer Institute and the Nutrients for Life Foundation.
"Congratulations to both Dr. Munroe-Blum and Mr. Magro. With the appointments of these highly qualified individuals, the Canada Pension Plan Investment Board will be able to continue its excellent work of building a diversified portfolio of assets that help ensure the long-term sustainability of the Canada Pension Plan. The efficient management provided by the CPPIB helps contribute to a safe, secure and dignified retirement for all Canadians."
- Bill Morneau, Minister of Finance
- 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.
- 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. Federal legislative changes in 2014 allow the CPPIB to name up to three non-resident directors to the board.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada
Dr. Heather Munroe-Blum
Dr. Heather Munroe-Blum is Chairperson of the Canada Pension Plan Investment Board (CPPIB) and Emerita Principal and Vice-Chancellor at McGill University. She is a Director at the Royal Bank of Canada (RBC) and has previously served as Chair of RBC's Corporate Governance Committee. She is also Director of the CGI Group, Director and Vice-Chair of the Gairdner Foundation, member of the board of Stanford University's Center for Advanced Study in the Behavioral Sciences, and a member of the Trilateral Commission.
Dr. Munroe-Blum was the Principal and Vice-Chancellor (President) of McGill University from 2003-2013, and prior to that, was the Vice-President (Research and International Relations) at the University of Toronto. She serves and has served on numerous corporate, hospital and community boards, is extensively published in epidemiology and public policy, and has been principal investigator on major research programs funded by the National Institutes of Mental Health in the United States and by Canadian research agencies. She has consulted various domestic and international governments on policy matters relating to science, innovation and related economic development, health and post-secondary education.
Dr. Munroe-Blum is a graduate of McMaster University, Wilfrid Laurier University, and the University of North Carolina at Chapel Hill, where she received a Doctor of Philosophy in Epidemiology (with distinction). She is also the recipient of numerous domestic and international honorary degrees. In addition, Dr. Munroe-Blum is an Officer of the Order of Canada and of l'Ordre national du Québec, and a fellow of the Royal Society of Canada.
Chuck Magro is President and Chief Executive Officer of Nutrien Ltd. He was previously President and Chief Executive Officer of Agrium, which he joined in 2009. Other key leadership roles he held at Agrium include Chief Operating Officer and Executive Vice-President; Chief Risk Officer and Executive Vice President of Corporate Development; and Vice-President, Manufacturing. He joined Agrium following a productive career with NOVA Chemicals.
Chuck plays an active role on the boards of the International Fertilizer Association and the International Plant Nutrition Institute. He also serves as chair of Canpotex Limited,The Fertilizer Institute and the Nutrients for Life Foundation.
Chuck holds a Bachelor of Applied Science (Chemical Engineering) from the University of Waterloo and a Master of Business Administration from the University of Windsor.