Guelph City Council adjusts governance of Guelph Junction Railway

Guelph, Ont., July 12, 2019–As the sole shareholder of Guelph Junction Railway (GJR), Guelph City Council is thanking its former board directors for their service following its decision to streamline the governance of the entity.

Until last month, GJR—an asset wholly owned by the City of Guelph—was governed by a board comprised of two independent directors (Ian Brown and Richard Puccini) and one City employee (the Deputy Chief Administrative Officer of Corporate Services). Council, as shareholder, made the decision to release the independent directors and appoint the City’s Chief Administrative Officer as the CEO and sole director of GJR. (The DCAO of Corporate Services is acting in that capacity while the City recruits a new CAO.)

“On behalf of Council, I’d like to thank Ian and Richard for their steadfast leadership and commitment to GJR over the years,” said Mayor Cam Guthrie.

The change is in keeping with the governance structure of Guelph Municipal Holdings Inc.—a corporation formed to manage City-owned assets. It also consolidates oversight of GJR decisions that affect the City with Council, resulting in alignment of City assets, resources and planning.

There is no financial impact associated with the change, as former directors were not compensated and there is no additional compensation for Guelph’s CAO for his/her work as CEO of GJR.

Resources

Guelph Junction Railway (GJR) Limited Annual Report to the Shareholder

Guelph Junction Railway (GJR) Limited Assessment of Business and Governance

Media Contact

Mayor Cam Guthrie
mayor@guelph.ca
519-837-5643