The board of directors is comprised of the president of the Corporation and ten directors appointed by the Lieutenant-Governor-in-Council (the provincial cabinet), with one director designated as chair. Board members are business and community leaders representing a range of interests with the responsibility of directing the affairs of the Corporation in a manner consistent with sound business practices.

The board reviews issues related to business planning, finance, performance targets, risk management (environmental, health and safety) and senior management performance. Committees of the board are responsible for specialized areas:

• the Audit Committee reviews corporate financial information, internal control systems and audit processes
• the Environment, Health & Safety Committee reviews environmental and safety policies and protection programs
• the Human Resources and Corporate Governance Committee oversees corporate human resources strategy development and monitors governance issues

Members

Francis McGuire, Chairman of the Board of Directors
Francis McGuire is currently president and chief executive officer of Major Drilling Inc. Prior to joining Major Drilling, he served as vice-president of business development for MITI Information Technology Inc. from 1998 to August 2000, identified by Profit magazine in 1999 as the fastest growing company in Atlantic Canada. McGuire has also served as deputy minister of the Department of Economic Development and Tourism of New Brunswick. He holds a Masters of Arts in International Studies, Trade and Economics from Johns Hopkins University, a diploma in European Politics from the Institut d'Etudes Politiques in Paris and a Bachelor of Arts from Dalhousie University. He recently served as co-chair of the Self-Sufficiency Task Force.

Edward Barrett
Mr. Barrett has a great deal of experience at senior levels in the business world. He holds a masters' degree in Public Administration and was co-Chief Executive Officer of Barret Corporation, an international management company. His former posts have included CEO of Barrett Marketing Group (a North American distribution company) and CEO of Atlantic Rentals Ltd.

Patrice Merrin Best
Ms. Best has a broad knowledge of the energy sector through her senior role at Luscar Energy Partnership, one of Canada's largest coal mining companies. She has a professional background in public policy and government relations, and was named one of Alberta's most influential people last year.

Norman Betts
Dr. Betts is an assistant professor, Faculty of Administration, University of New Brunswick. He serves as director and chair of the Audit Committee for both Minacs Worldwide Inc. and Slam Exploration Ltd. He co-chairs the board of trustees of the UNB Pension Plan for Academic Employees and is a director of the Nature Conservancy of Canada – Atlantic region.

Graham Brown
Mr. Brown is president and CEO of Carillion Canada Inc. He is past COO of Ontario Power Generation and has also been a board director with National Power in the U.K., as COO and interim CEO. He has served in a managerial capacity with several petroleum companies and as a senior advisor to Prime Minister Margaret Thatcher.

Normand Caissie
Mr. Caissie is the owner and CEO of Imperial Manufacturing Group, responsible for the financial and strategic direction of nine independent companies with sales totalling about $100 million per year.

Bernard Cyr
Mr. Cyr is owner of Cyr Holdings which operates the Chateau Moncton Hotel, develops commercial properties and operates various restaurants. Mr. Cyr is also owner and franchisor of the Dooly’s group. He is a director of the National Bank of Canada and the Dr. Georges-L. Dumont Hospital Foundation.

Eloi Duguay
Mr. Duguay is president of Pattison Sign Group. He is pastpresident and co-owner of Imperial Signs and a former city administrator for the City of Edmundston. He has been a member of numerous professional engineer associations, was president of the New Brunswick Economic Council, and is a past president of the New Brunswick Association of Professional Engineers.

Shirley Mears
Ms. Mears is the senior vice-president and chief financial officer of Hydro Ottawa Holding Inc. Her previous posts include vice-president and treasurer of Zarlink Semiconductor Inc, vice-president and treasurer of Mitel Corporation, and vice-president, Human Resources Canada and Corporate Taxation.

Jean-Marc Violette
Mr. Violette is a farmer and woodlot manager in St. Leonard and has been active in the agriculture sector. He has served on the Farm Debt Review Board and the Farm Development Board.

Fraser Walsh
Mr. Walsh is a Corporate Advisor for George Weston Ltd. His previous posts include President, Heritage Salmon Limited, Senior Vice President, Aquaculture, Connor Bros. Limited, as well as several other senior management positions with Connors Bros. Limited.

David D. Hay, President & CEO
Mr. Hay became president and chief executive officer in March 2004. He spent the past eight years as managing director of Delgatie Inc., and prior to that he was senior vice president and director with Merrill Lynch Canada Inc. and managing director within the firm’s Investment Banking Division in London, England.