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TORONTO (November 23, 2007): In celebration of retiring Ontario Teachers' Pension Plan President and CEO Claude Lamoureux's career, friends and colleagues have donated $1 million to foster his exemplary business values in the next generation of leaders. The Richard Ivey School of Business, at The University of Western Ontario, is honoured to be the recipient of this generous gift, which, with matching government funding, will result in a $3-million student scholarship endowment in Mr. Lamoureux's name.
“This donation exemplifies Claude's passion for students and for education. Helping the best and brightest with their education is imperative for Canada to continue to compete on the global stage. Ivey is honoured to be the recipient of this generosity," said Carol Stephenson, Dean, Richard Ivey School of Business.
“We hope to instill in each Ivey student Claude's passion and enthusiasm for business along with his sense of personal integrity and unwavering support for strong corporate governance," said Ms. Stephenson.
Mr. Lamoureux is Teachers' inaugural CEO. He was appointed by then Chair Gerald Bouey in 1990, when the Ontario government established the new independent corporation to replace the Ontario Teachers' Superannuation Fund. As CEO, he was responsible for building an organization that could significantly grow the existing fund, and meet members' needs for service. In 1990 the fund's $19 billion in assets were invested in Ontario government bonds. Under his leadership, the fund has grown to a well-diversified $106 billion as of year-end 2006, and the plan's client service is second to none worldwide.
“Above all else, Claude is a leader and a mentor," said Jim Leech, Teachers' CEO-designate. “Every one of us at Teachers' is a product in some way of the knowledge and wisdom that he has shared with us. He has been our teacher and we have been his students. His friends and colleagues from across Canada's business and investment communities are proud to capture that teaching legacy forever in this invaluable, one-of-a-kind gift."
“I am overwhelmed, but thrilled," said Mr. Lamoureux of the establishment of the scholarship fund in his name. “Education is a priceless asset – our future prosperity depends on it. The thought that Ivey students will be benefiting from such a generous gesture on the part of my friends, is the most thoughtful and meaningful gift I can imagine receiving."
Mr. Lamoureux, who has been called “One of the most powerful voices in Canadian public markets", received the gift at a gala retirement dinner last night in Toronto. The $3-million endowment will help up to 10 students each year achieve their dreams of studying business.
About Ontario Teachers' Pension Plan
With $106 billion in net assets as at December 31, 2006, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 271,000 active and retired teachers in Ontario.
About the Richard Ivey School of Business, The University of Western Ontario
The Richard Ivey School of Business at The University of Western Ontario (www.ivey.ca) offers full-time undergraduate (HBA) and graduate degree programs (MBA, Executive MBA and PhD) in addition to non-degree Executive Development programs. Ivey has campuses in London (Ontario), Toronto, and Hong Kong. Ivey recently redesigned its curriculum to focus on Cross-Enterprise Leadership – a holistic issues-based approach to management education that meets the demands of today's complex global business world.
Contact:
Mary Weil
Manager, Media & Public Relations
Richard Ivey School of Business
(416) 203-0664
mweil@ivey.ca
Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
(416) 730-5347
deborah_allan@otpp.com
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(l-r): Claude Lamoureux, Lorraine Lamoureux, Carol Stephenson, Dean, Richard Ivey School of Business, and Teachers’ CEO-designate, Jim Leech. |
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