news and information

CHANGES TO SEAWAY BOARD OF DIRECTORS

(CORNWALL, September 16, 2004) - The St. Lawrence Seaway Management Corporation (SLSMC) is pleased to announce the appointment of Doug Smith as Chairman of its Board of Directors for a two-year term. A board member since November 2000, Mr. Smith represents domestic carrier members, and has served on the Corporation's Asset Renewal and Audit Committees. Mr Smith replaces Mr. Swenor, who stepped down after serving as Chairman for 6 years and who will remain on the Board for the next 2 years, continuing to represent the iron ore and steel members.


Prior to joining the SLSMC's Board, Mr. Smith worked for Ontario Hydro for 26 years, engaged in a wide variety of roles spanning finance, procurement, and business planning. Following his retirement from Hydro, he served part-time as President of the Chamber of Maritime Commerce from 1995 to 2000, and worked as an independent consultant.


The SLSMC is also pleased to welcome Guy V+¬ronneau back to the Board, representing "other members". Mr. V+¬ronneau served as President and CEO of the SLSMC from 1998 to 2003 and oversaw the transition of the former public sector St. Lawrence Seaway Authority into the commercialized SLSMC. Mr. V+¬ronneau replaces Alan Holt, who has left the Board after serving two 3-year terms, the maximum permitted under the Corporation's Bylaws. Also leaving the Board this fall after six years of service will be Denise Verreault, the Federal Government representative and Marc Dulude, the Quebec Government representative. Their replacements will be announced in due course.


Richard Corfe, President and CEO of the SLSMC, stated that "We are sure that Doug Smith will be a worthy successor to Mr. Swenor" and that "we owe a debt of gratitude to Bob Swenor for his service as Chairman since the inception of the Corporation, as well as to the three departing Board members for their guidance and direction through the formative years of the corporation." He also noted that "we are pleased to have Guy return to the Seaway family and know that we can count on his support as we work to turn our vision into reality."