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 TORONTO (February 20, 2007): Captain Norman Stark has been appointed Chief Executive Officer of GCT Global Container Terminals Inc., the newly-named marine terminal corporation acquired recently by Ontario Teachers’ Pension Plan (Teachers’). Joining Captain Stark as the corporation’s Chief Financial Officer is Brian Pettipas, CA, CBV.
Captain Stark and Mr. Pettipas were executives of TSI Terminals Systems Inc., Vancouver, when it was acquired by Teachers’ in early 2007, as part of its infrastructure investments portfolio. (Other operations included in the acquisition agreement are in Bayonne, New Jersey and Staten Island New York. The Bayonne acquisition closed at the same time as Vancouver. Regulatory approval is pending for New York).
 “Norman and Brian bring a unique industry understanding to their roles and to GCT Global Container Terminals as a whole,” said Jim Leech, Senior Vice-President, Teachers’ Private Capital. “They have the drive and vision necessary to build and expand the company’s operations in Canada and the U.S and the proven expertise and industry respect to make it happen.”
Captain Stark joined TSI Terminal Systems Inc. in 2001 as President and Chief Executive Officer, and has over 40 years experience in the marine industry. He headed the Vancouver Port Authority from 1990 to 2001, during the most aggressive period of expansion in the port’s history. He also is former Port of Halifax Harbour Master and former Port of Saint John Assistant Harbour Master. As a 12-year member of the British Merchant Marine, Captain Stark also has considerable experience at sea. He currently is a member of the boards of the British Columbia Maritime Employers’ Association, the Asia Pacific Trade Council, and the Delta Chamber of Commerce.
Mr. Pettipas joined TSI Terminals Systems Inc. in 2003 after two years at Sigma Aerospace Ltd. in the UK, and 11 years with Grant Thornton LLP in Vancouver, where he achieved partnership in 2001. He received his Chartered Accountant and Chartered Business Valuator designations in Canada and is well regarded for his in-depth knowledge and experience in mergers and acquisitions, strategic planning and project financing. Since joining the newly-named GCT Global Container Terminals, he has successfully negotiated significant lease extensions for Deltaport and Vanterm, and the Vanterm improvement agreement.
Container terminals are the interface between sea and land-based container transport, where containers are either loaded onto ships from trucks or trains or are unloaded from ships for further transport by either truck or rail to their destinations.
Teachers’ Private Capital is the private investment arm of the CDN$100 billion Ontario Teachers’ Pension Plan, an independent corporation responsible for investing the fund and administering the pensions of Ontario’s 264,000 active and retired teachers. With more than $15 billion in assets, Teachers’ Private Capital is one of North America’s largest private investors, providing equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide.
Contact:
Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
(416) 730-5347
deborah_allan@otpp.com
Download photos:
Captain Norman Stark
Brian Pettipas
Deltaport 1
Deltaport 2
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